On July 25, 2026, the 12th Shanghai People’s Congress Deputies Forum was held at Shanghai Normal University under the theme “Supporting Shanghai’s International Trade Center and Building a Commodity Trade Supply-Chain Industrial System.” Discussions focused on upgrading Shanghai’s commodity trade hub, improving supply-chain systems, and strengthening industrial-chain resilience and security—through rule of law, financial support, digital transformation, and industrial clustering—to enhance market voice and pricing power, build a trusted trading environment, and promote trade innovation and high-quality growth.
1. Forum focus: upgrading the international trade hub
Against the backdrop of the 15th Five-Year Plan period, participants discussed how to upgrade Shanghai’s international trade center, build a more complete commodity supply-chain industrial system, and reinforce supply-chain resilience and security. Putuo District, as a core commodity-trade hub, is expected to continue leveraging industrial clustering, digital infrastructure, supporting services, and industry-academia-research collaboration to drive innovation along the Songhu commodity corridor.
2. Trusted trading and the influence of “Shanghai prices”
Remarks from the Shanghai Municipal Commission of Commerce centered on building a trusted commodity trading environment and raising the influence of “Shanghai prices,” covering global commodity trade trends and Shanghai’s market transition. Industry representatives also shared practices on trusted trading spaces, richer financial tools, and investment indicator systems. Experts urged stronger participation in protecting critical mineral resources, controlling processing and logistics rights, and building digital tracing systems to lift Shanghai’s voice in global markets.
3. Industrial clusters and platform development accelerate
Forum information indicates that the “Banmu Suhe” non-ferrous metals specialty cluster is advancing rapidly, with 2025 commodity trade scale projected at RMB 1.43 trillion; the Shanghai Nonferrous Metals Exchange has long ranked among China’s top commodity trading venues. Drawing on Free Trade Zone policy advantages, Putuo is advancing municipal upgrading plans and building the country’s first integrated trusted trading service platform for commodities, promoting data on-chain processes and business restructuring while deepening industry-finance integration.
4. Legal safeguards and coordinated progress
Deputies, district people’s congress standing committee members, and experts proposed legislation to support high-quality commodity trade development, digital transformation, trade-process standardization, talent development, and integrated financial services. Putuo is conducting targeted research and bringing together government, departments, and experts to improve the legal environment and form a coordinated advancement mechanism.
Looking ahead, Shanghai will continue building a distinctive commodity trade hub, advancing digital and green intelligent transformation, strengthening resilient supply chains, and driving trade innovation and structural adjustment—further enhancing the competitiveness of its international trade center and its global pricing voice.