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Xinhua-China banana producing area price index released in Chengmai County, Hainan Province

25.5.2018

"Xinhua-China banana producing area price index" compiled jointly by the People's Government of Chengmai County of Hainan Province and China Economic Information Service (CEIS) of Xinhua News Agency was officially released in south China's Hainan Province on May 15.

The index aims to monitor the operation status and development trend of banana producing areas in China and create a barometer for the industry.

It is reported that the base date for the index is set on July 3, 2017, with the base point standing at 100 points. As of May 11, 2018, the index was reported at 87.05 points, up 0.63 points or 0.73 percent from the previous release date and down 12.95 points or 12.95 percent from the base period.

The "Xinhua-China banana producing area price index" selects the transaction prices of the five major banana producing areas (Hainan, Guangxi, Yunnan, Guangdong and Fujian) as samples, and collects price data every two days. The weights of the index are adjusted according to market production, consumption and seasonal features.

The index is a classic example of deep integration of big data and the real economy. It takes full advantage of Chengmai County's location and industrial expertise in banana production. It is of positive significance to assisting the government's decision-making, guiding the industry development, fostering scientific cultivation of banana farmers, and building the Hainan free trade zone (port), said deputy County director of Chengmai County Wang Baohan.

The index can objectively and accurately reflect the operation conditions of the banana producing areas in China, provide open and transparent price information for the industry, and avoid the price confusion in the banana market, according to Su Huizhi, vice president of CEIS.

CEIS is a wholly-owned company of Xinhua News Agency and boasts five national-level platforms including Xinhua Finance, Xinhua Silk Road, Xinhua Credit, Shanghai Petroleum and Natural Gas Exchange (SHPGX) and Xinhua Think Tank. As China's first professional institution studying, releasing, promoting and operating composite indices, Xinhua Indices have been committed to building four product systems: Xinhua Price Index, Xinhua Theme Index, Xinhua Evaluation Index and Xinhua Finance Index, and launched a series of influential products.

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