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According to a report from Sinochem New Network, the China Securities Regulatory Commission issued a notice on January 23, officially adding the p-xylene (PX) futures, bottle sheet futures, and short fiber futures of the Zhengzhou Commodity Exchange (hereinafter referred to as ZCE), as well as the purified terephthalic acid (PTA) options, PX options, bottle sheet options, and short fiber options, to the list of specific domestic financial products. Xu Jien, deputy general manager of Yisheng Petrochemical’s Marketing Center, said that the internationalization of the polyester sector, as an important part of the higher-level opening up of the futures market, complements the existing domestic market to a great extent. It helps to optimize the structure of market investors and improve the efficiency of price discovery, facilitating the transformation of China’s polyester futures prices from \"Chinese prices\" to \"global prices.\" This in turn enhances China’s competitiveness and influence in the global polyester industry chain. According to officials from the Zhengzhou Commodity Exchange, thanks to years of development, China’s polyester industry has maintained its position as the largest in the world, and it now possesses the most complete polyester industry chain system globally. The polyester sector features a large number of enterprises at all stages of the value chain, including those involved in production, trading, processing, and other related industries; thus, a mature pattern of coordinated development within this industry chain exists. In recent years, amid the restructuring of global supply chains and the accelerated expansion of domestic companies overseas, price fluctuations in polyester products have intensified. As a result, companies face increasing pressures to manage cross-border price and exchange rate risks, leading to a significant rise in the demand for tools for cross-border pricing and hedging. Previously, the Zhengzhou Commodity Exchange had gradually launched pilot programs to open up various products in the polyester sector. As China’s first chemical futures product and the world’s first of its kind, PTA futures have seen stable market performance since foreign traders were allowed to trade them in 2018, and their functional roles have continued to be fulfilled. “The opening up of PTA futures to the international market has provided valuable experience for the overall internationalization of the polyester sector. Now, overseas PX traders are starting to refer to domestic futures prices when setting their quotes. The full internationalization of the polyester sector will further improve cross-border pricing mechanisms, help prevent vicious competition among domestic enterprises in international trade, and boost the global influence of China’s polyester industry. ”Liu Dewei, general manager of Xiamen Guomao Petrochemical Co., Ltd., said. To date, nearly 800 overseas clients from 33 countries and regions have opened accounts at the Zhengzhou Commodity Exchange. The exchange has also signed memorandums of understanding with 12 overseas exchanges, creating favorable conditions for the internationalization of the polyester sector. “Next, the Zhengzhou Commodity Exchange will continue to carry out market development and investor education activities to ensure the smooth internationalization and stable operation of the polyester sector. ”A relevant official from the Zhengzhou Commodity Exchange said.