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An Auction was held in CIFTIS for providing an Assistance for targeted Poverty Alleviation


As an important activity in the 5th CIFTIS, “Special auction for targeted poverty alleviation and IPR protection” closed on May 31st in Beijing. Through online and offline bidding, the total turnover of the auction was 354 million Yuan. The closing ratio of targeted poverty alleviation segment was 100% with over 310 million Yuan turnover.


It was the second auction which is an important type of trade in services since the 4th CIFTIS in 2017. Hosted by Beijing Municipal Commission of Commerce, the auction had 113 auction items in total among which there were 38 items for targeted poverty alleviation, 40 items for IPR and 35 items for artworks. It is reported that the auction items for targeted poverty alleviation including a large amount of agricultural futures products and spot products, such as jujubes and thin-shell walnuts from Hetian, Xinjiang, mung beans and millets from Chifeng, Inner Mongolia, and kiwi fruits from Huoqiu, Anhui.


Finally, through fierce online and offline bidding in three segments, the total turnover of the “Special auction for targeted poverty alleviation and IPR protection” was 354 million Yuan. The first auction item in targeted poverty alleviation segment was futures of 10,000 tons of mung beans from Chifeng, Inner Mongolia. With the starting price of 68 million Yuan, it was sold at 76 million Yuan at last. With the starting price of 4 million Yuan, futures of 200 tons of high-grade thin-shell walnuts from Hetian, Xinjiang was sold at 6.2 million Yuan at last. Finally, 6,250 tons of Luodian red pitaya from Qinnan Region, Guizhou were sold at a high price of 100 million Yuan after multi rounds of bidding.


Director of Beijing Municipal Commission of Commerce, Yan Ligang said, introducing a large number of agricultural products from several poverty-stricken areas into auction activities was an attempt and exploration. He believed that through CIFTIS – a national service platform, it could promote agricultural products from poverty-stricken families while developing the market of Beijing for agricultural products from poverty-stricken areas in such a new trade manner - auction, providing a targeted assistance for poverty alleviation of poverty-stricken areas.