The Bohai Commodity Exchange (BOCE) Taicang Trade Center recently started trial operations. Preparatory work before product launches as well as investment attraction are fully under way, Tc.cn reported.

The Taicang Trade Center is the 161st agency authorized by the Bohai Commodity Exchange. It is jointly financed by Bohai Modern Logistics Co Ltd and Yalu Corporation with a total investment of 3 billion yuan ($505.61 million) and a registered capital of 1 billion yuan.

Relying on the excellent port conditions and fully utilizing Taicang Port’s strength in iron ore, coal, chemical raw materials and nonferrous metals, it aims to develop the center into an e-commerce platform and East China’s logistics center, integrating manufacturers, logistics enterprises, financial firms, e-commerce platforms and end customers.

After completion, the center will become the most influential commodity trade and delivery center and the Taicang branch of Bohai Commodity Exchange Commercial Bank, covering the area of Suzhou, Wuxi and Changzhou. It is expected that in 2015, turnover will reach 2 trillion yuan, with deliveries reaching 100 billion yuan.

The Bohai Commodity Exchange is the only comprehensive spot commodity exchange in China and has tens of industry leading enterprises, including Shenhua Group, Hebei Iron & Steel Group and Shandong Iron & Steel Group.