Frequently Asked Questions
QME offers two trading models: listing, purchase bidding and sale bidding. All transactions on the platform are full-payment and full-delivery transactions of which trading members must fully complete the transfer of ownership of goods, payment for the goods and issuance of invoices.
The trading hours for QME are from 9:00 a.m. to 4:30 p.m. on each trading day, which is from Monday to Friday (excluding national statutory holidays and market closure days announced by QME).
After an online transaction concluded through QME, trading members need to complete delivery of contract through QME trading system and upload supporting documents such as invoices, payment receipts and/or proof documents of receiving and delivering of the commodities as required by QME.
For domestic transactions, settlement methods include Telegraphic Transfer (T/T) and bill settlement (bank acceptance bills and commercial bills). For cross-border transactions, settlement methods include RMB Telegraphic Transfer (T/T), Documents against Payment (D/P), and Letters of Credit (L/C).
Enterprises who intend to trade on QME should first register as a professional Trading Member. Trading Member is restricted to enterprise legal entity and its branches only; natural persons are excluded.
Prospective enterprises first must submit an application along with required writing documentation to QME. After review and approval by QME, QME assigns a user ID in the trading system for the follow up registration by enterprise. And then the enterprise can download the client trading system and complete registration in the trading system.