Research On The Development Strategy Of Huazhong Petrochemical Exchange Center

China's economy has experienced a rapid development for nearly 40 years since the implementation of the policy of reform and opening up.During the process of its rapid rise,China,as one of the most important industrial producers in the world,consumes a large amount of raw materials for industry and increases the demand for bulk commodities.Though the development of the bulk commodities trading market in China has only less than 30 years,its existence has effectively promoted China's circulation of commodity market,development and improvement of pricing mechanism,and greatly improved the allocation efficiency of main resource.However,the blind expansion and the lack of management and other problems caused by the rapid development have also appeared in the bulk commodities trading industry in China.Under this condition,some general problems occur,such as lack of management system,absence of restrictions,laws and regulations,leading to a large number of illegal transactions such as over-the-counter and futures-likeness.Those issues not only disrupted regional financial development,but also affected economic health.In this situation,how to build a bulk commodities trading center in accordance with the policies and regulations and benefits to the economic demands has become the primary concern.Based on the theory of competitive strategy,competitive advantage theory and other strategic analysis theories,this paper attempts to take PEST analysis,SWOT analysis as tools to investigate and analyze the current situation and the internal and external situation of the Huazhong petrochemical exchange center(Abbreviated as HPEX)in order to find out the development strategy and formulate a strategy suitable for the development of future needs.The main research framework of this paper is as bellowed.The first part is a brief description of the development characteristics and experience of the same kind of trading places at home and abroad,as well as the research results of experts.The second part sketches the developing situation,the operation results and the analysis of the internal and external factors.In addition,this part contains the reasons for HPEX's establishment,operation goals and existing problems.Then,by using PEST and SWOT tools,this part attempts to find out the potential impact of each factor towards the future development by studying the internal and external environmental factors.The third part,basing on the conclusion of PEST analysis and SWOT analysis,tries to determine the basic principles and strategic objectives of the subsequent development of HPEX.Then,it formulates the developing strategy and implementation processes.The fourth part is mainly to put forward strategic measures according to the actual demands of trading center.Finally,suggestions are put forward for China's bulk commodities trading centers and this part also summarizes the shortcomings and puts forward further research directions.The author hopes to find a strategic model(ST model)that can satisfy the needs of development of the trading center.With the upgradation of transaction mode,operation ability,and management system,HPEX will realize transformation and upgradation by completing the risk control and enhancing employees' talents.