The state suspends the release of cotton reserves in the new year.

The state will suspend the release of cotton reserves in the next cotton year to guide enterprises to actively purchase, process and sell new cotton. In 2015, cotton imports will be properly arranged according to the domestic supply and demand situation. Except for issuing the tariff quota of 894000 tons promised by China's accession to the WTO, the import quota will not be increased in principle, so as to guide domestic textile enterprises to make more use of domestic cotton.

This is the decision made by the National Development and Reform Commission and other eight departments on the 25th. On the same day, the National Development and Reform Commission, the Ministry of Finance and other eight departments jointly held a national cotton work teleconference to analyze the cotton production and marketing situation in the new year, and to make arrangements for the reform of cotton purchase and marketing and other related work.

The meeting pointed out that in the past 2013 cotton year, the state effectively protected the interests of cotton farmers, ensured the needs of cotton for textile use, and maintained the smooth operation of the cotton market by implementing the temporary collection and storage policy, timely putting in cotton reserves, and rationally arranging cotton imports. At the beginning of this year, the state launched a pilot project to reform the target price of cotton in Xinjiang, and at the same time abolished the temporary collection and storage policy nationwide, realizing that new cotton prices are mainly formed by the market. we will gradually build a new cotton purchase and sales system that gives full play to the role of the market mechanism and the role of the government.

The meeting predicted that domestic cotton demand will recover in the new year, and the gap between domestic production and demand in that year shows an expanding trend. Relevant departments and local governments should earnestly perform their duties, properly handle the relationship between new cotton sales, reserve release and import arrangements, and the relationship between protecting farmers' interests and improving textile competitiveness, the relationship between market prices and government improvement regulation and control, guide the market cotton prices to operate within a reasonable range, and maintain the total balance of domestic cotton supply and demand and the basic stability of the market.