Transactions of Chinese companies on BUCE rise by 14%

02/21/2023

The amount of transactions made by Chinese companies on BUCE in 2022 increased by 14% compared to the year before reaching nearly 53 million USD. The number of registered participants from China increased as well – from 67 to 113, with two of them acting as exchange brokers.

These figures were revealed during the presentation of BUCE's potential as part of Belarus-China investment forum organized by the Embassy of the Republic of Belarus in the People's Republic of China with support of the Ministry of Economy of Belarus. The event was held on February 17 via Zoom and brought together some 70 participants from both countries.

BUCE’s presentation focused on the advantages of using the exchange mechanism when selling Belarusian goods in China, as well as when purchasing Chinese products, particularly for import substitution purposes. Last year, BUCE served as a one-stop-shop platform for exporting Belarusian lumber, rapeseed oil, milk powder, wet blue leather and synthetic fibers to China, while Belarusian enterprises purchased Chinese-made ferrous metal products and soybean meal.

The upward trend in Belarus-China exchange trade was achieved thanks to BUCE’s efforts to involve more companies from China in exchange trades, as well as by creating favorable conditions for the representatives of the Chinese business community. Among other things, BUCE simplified the accreditation procedure, allowed settling exchange contracts in China’s national currency, and provided round the clock consultations and technical support in the Chinese language. In addition, during 2022, special export trading sessions focused on the Chinese market were held on a regular basis. They enabled Chinese importers to buy Belarusian lumber with delivery to convenient locations in mainland China.

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Personal data processing policy

The policy with which the user agrees by submitting their contact information through the feedback form on the official website of the Belarusian Universal Commodity Exchange.

Personal data processing policy

1. Personal data processing policy (hereinafter – Policy) regulates the legal relationship between the Belarusian Universal Commodity Exchange (hereinafter – BUCE) and the User (a capable individual aged 18 and above who wants to order services or leave feedback) regarding personal data processing. Personal data means any information related directly or indirectly to a specific or identifiable individual (citizen). Personal data processing means any action (operation) or a set of actions (operations) with personal data performed using automation tools or without them. Such actions (operations) include but are not limited to: collection, receipt, recording, systematization, accumulation, storage, clarification (updating, editing), extraction, use, transfer (distribution, provision, access), depersonalization, blocking, deletion, and destruction of personal data.

2. The User agrees to this Policy by entering their e-mail address and phone number in special fields in the feedback request form available on the BUCE website and then clicking the “Submit” button. When performing these actions, the User sends BUCE their e-mail address and phone number for further communication purposes.

3. By providing their personal data, the User agrees to have these data processed (until the User decides to withdraw their consent to processing of such data) in order to provide the User with advertising and reference information as well as other purposes in accordance with clause 4 of this Policy. When processing personal data, BUCE shall act in compliance with the Law of the Republic of Belarus of November 10, 2008 No. 455-3 “On Information, Informatization and Information Protection” taking into account the provisions of the General Data Protection Regulation of the European Union of April 27, 2016, the Law Of the Republic of Belarus of May 10, 2007 No. 225-3 “On Advertising” as well as local regulatory documents.

4. If the User wishes to amend personal in cases when such data are incomplete, inaccurate or irrelevant, or wants to revoke their consent to personal data processing, the User must submit an official request to BUCE: a letter with the subject “Amend personal data” or “Stop processing personal data” to the email address uc@ecp.by. The letter must include the User’s email address and the corresponding request.

5. BUCE uses the data provided by the User for the following purposes:

5.1. further communication with the User;

5.2. advertising and awareness raising activities;

5.3. promotion of goods and services;

5.4. surveying and polling;

5.5. analyzing efficiency of advertising campaigns.

6. BUCE undertakes not to transfer the information received from the User to third parties. Disclosure of personal data to advertisers and third parties acting under a contract with BUCE in order to fulfill obligations to the User shall not be deemed a violation of this Policy.

7. Disclosure of personal data in accordance with reasonable and applicable requirements of the legislation of the Republic of Belarus shall not be deemed a violation of this Policy.

8. BUCE has the right to use the “cookies” technology. “Cookies” do not contain confidential information and are not transferred to third parties.

9. BUCE has access to information about the User's ip-address and the original link that led the User to BUCE website. This information is not used to identify the User.

10. When processing personal data, BUCE takes necessary and sufficient organizational and technical measures to protect personal data from unauthorized access as well as any other actions of illegal nature.