Vallis Commodities Limited (Vallis) was pleased to host the president of CAWS, the China Association of Warehouses and Storage, Mr Shen Shaoji, during a visit to our head office in Somerset, England yesterday.
Mr Shen was accompanied on a fact finding mission by Mr. Wang Chunlu, Chairman of Junhe and Baian Storage Technology Co Ltd, and their interpreter, Ms. Serena Yao.
IFC (International Finance Corporation) has invested in China since 1985. Now with the support of IFC, China is establishing a collateral register and publication system. Of course, Vallis has close ties with the IFC and World Bank; I have presented to the World Bank in Washington (see our newsletters from October 2013) and last year Vallis conducted a large audit on collateral management in Tanzania for the IFC.
Mr Shen was briefed in detail on collateral management contracts, mechanisms and the risk reduction measures employed by Vallis in securing collateral in its operations in Africa and the Middle East.
CAWS (China Association of Warehouses and Storage), founded in 1995, is a not-for-profit warehousing trade organization. It promotes best practice in the warehousing industry in China and has nearly 1,000 member enterprises and 8 affiliated agencies in related logistics activities.
Some statistics – China has:
• Approximately 30,000 warehousing enterprises
• One million related practitioners
• Total stored assets of 2,000 trillion Yuan (326 trillion USD)
• Warehouse capacity of 900 million square metres
• Cold storage capacity of 80 million cubic metres