BEIJING, July 1, 2022 /PRNewswire/ -- The Xinhua-Kelan Cashmere Goat Price Index was released on Wednesday in Kelan County, north China's Shanxi Province, aiming to boost the high-quality development of Kelan cashmere goat industry.

As the first cashmere goat price index in China, the index comprehensively and objectively reflects the price information of all links of Kelan cashmere goat industrial chain, provides pricing reference for the market, and boosts the revitalization of characteristic industries with digital tools.

Located in the northwest of Shanxi Province, Kelan County has unique advantages in developing goat raising industry. Over the years, Kelan has gradually formed a cashmere goat processing system integrating leather, wool, cashmere and meat production.

By the end of 2021, Kelan County had raised nearly 660,000 goats, including 550,000 cashmere goats, with 136 tonnes of cashmere and 306 tonnes of wool having been produced. The annual output value of goat industry reached 252 million yuan, accounting for 60 percent of the total output value of local animal husbandry.

Jointly developed by China Economic Information Service (CEIS) and the government of Kelan County, the index is expected to objectively reflect industrial development trend and improve market circulation efficiency, which will be of great significance to the goat industry development and decision-making departments.

The index is an important opportunity for Kelan County's agricultural high-quality transformation and upgrading, as well as a major measure for industrial revitalization and animal husbandry development, which will have a far-reaching impact on the development of the local goat industry, said Meng Hongbin, secretary of Kelan county committee of the Communist Party of China (CPC).

The goat index will guide the market to circulate more smoothly, promote the better dissemination of brand value, accelerate the digital transformation of the industry, and achieve high-quality development of the local cashmere goat industry, according to Zhang Zhaoxin, researcher of the Research Center for Rural Economy (RCRE).

CEIS is an economic information provider under Xinhua News Agency and boasts multiple key information service platforms such as the Xinhua Finance, Xinhua Silk Road, Xinhua Credit, and Xinhua Indices. Xinhua Indices provides comprehensive indices compiling, releasing, operating and promotion services.