Home>Policies

Announcement of Shanghai Customs on Developing Futures bonded Delivery Business in China (shanghai) Pilot Free Trade Zone

Updated:2017-07-24

With a view to pushing forward the construction of the China (Shanghai) Pilot Free Trade Zone (hereinafter referred to as the Pilot Zone), and in accordance with the Customs Law of the People’s Republic of China and the Notice of the State Council on Printing and Distributing the Framework Plan for the China (Shanghai) Pilot Free Trade Zone (SC G [2013] No. 38), upon approval by the General Administration of Customs, matters about developing futures bonded delivery business in the Pilot Zone are hereby announced as follows:   

1. Futures bonded delivery means a marketing mode of taking goods under bonded supervision status in the Pilot Zone as the subject matter of delivery.

2. Shanghai Futures Exchange (hereinafter referred to as the SFE) conducting futures bonded delivery business shall computer-network with the customs and provide to the Customs the real-time bonded delivery statement, bonded standard warehouse receipt and such other electronic information. The description of goods in futures bonded delivery business shall be the variety listed in the SFE.

The designated bonded delivery warehouse means the place designated by the SFE, with bonded warehouse qualification, where futures bonded delivery is made. The enterprise registered with the customs in the Pilot Zone that operates the designated bonded delivery warehouse (hereinafter referred to as the “delivery warehouse”) shall establish a computer management system in line with supervision requirement of the customs, able to network with the customs supervision informatizaion system via the data exchange platform or other computer network in the mode of attestation as required by the customs, to submit to the customs relevant data that can satisfy the customs supervision requirement (for detailed networking conditions and handling formalities, see the Announcement of Shanghai Customs No. 5, 2014)

3. Bonded delivery goods shall be piled up at the place of the delivery warehouse designated by the SFE, marked with obvious signs, and separated from common bonded goods.

4. After the futures bonded delivery is finished, in need of taking delivery of goods out of the border, the delivery warehouse shall complete formalities of goods exit declaration with the customs by presentation of sales documents issued by the SFE (Shanghai Futures Exchange Client Bonded Delivery Statement and Shanghai Futures Exchange Bonded Standard Warehouse Receipt Bill) (see Annex 1, and Annex 2) as attached documents; in need of taking delivery out of the Zone to the area within the border, the consignee of export goods or his/her agent shall go through goods import declaration formalities by presentation of sales documents issued by the SFE as attached documents with the customs, and pay import link taxes.

5. The holder of bonded standard warehouse receipts (hereinafter referred to as the “warehouse receipt holder”), upon examination by the competent customs in the Pilot Zone (hereinafter referred to as the “competent customs”), may finance through banks (hereinafter referred to as the “warehouse receipt pledge”), and the warehouse receipt holder, when going though the warehouse receipt pledge filing formalities with the competent customs, shall submit the following documents:

1 2 >

0