Shanghai Customs expands the function of Shanghai Free Trade Zone to help the development of bonded delivery of crude oil futures

Since the listing of crude oil futures with the innovative features of "international platform, net price trading, bonded delivery and RMB valuation", Shanghai Customs has actively innovated the customs supervision system and mode of bonded delivery of crude oil futures based on its own functions, helping to ensure the smooth operation of the market as a whole, the steady growth of turnover and position, and the overall performance of good development trend of "smooth transaction, smooth settlement, smooth delivery, strict supervision, in place of wind control, positive public opinion, and initial appearance of service entity economic function". According to statistics, since the listing of crude oil futures, five designated delivery warehouses in Shanghai, Dalian, Zhanjiang and Zhoushan have successfully completed seven deliveries, with a cumulative delivery volume of 7.19 million barrels. A total of 4125,000 barrels of warehouse receipts were generated, 1552,000 barrels of customs declaration and import were completed, and 650,000 barrels of customs clearance from Zhanjiang, Guangdong to Yangshan, Shanghai were completed.

"The key to futures commodities lies in their circulation. Customs fully considers the actual business needs of enterprises such as pledge of standard warehouse receipts, transferability and delivery in different places, and has done practical work for enterprises." Shengang International Oil Storage and Transportation Officer said. After carrying out bonded futures delivery business, the designated delivery warehouse and the same storage tank are allowed to store bonded Futures Crude Oil of different shippers without setting storage period, which can give full play to the financial attributes of crude oil futures as commodities. As the first internationalized futures in China, the smooth operation and function of crude oil futures have gradually been brought into play since its listing, which lays a foundation for the subsequent introduction of more internationalized futures and accumulates experience for the internationalization of market operation and supervision of China's futures market.

In order to support the development of bonded delivery of crude oil futures, Shanghai Customs has set up an advanced international standard, pays close attention to the actual business needs of enterprises, conducts research on the whole process of crude oil import, improves the process of importing crude oil into warehouses and customs clearance, and develops a good experimental field of trade facilitation and internationalization of crude oil futures. ,

"At present, when placing an order on the Shanghai Futures Exchange, international crude oil suppliers directly deposit their goods in bonded delivery warehouses without paying import-related taxes and fees. Since the implementation of bonded delivery of crude oil futures, transaction costs and transaction risks of enterprises have been reduced, and we have a real sense of gain. Shengang International Oil Storage and Transportation Co., Ltd. said excitedly.

上海海关积极创新原油期货保税交割业务

“现在在上海期货交易所下单，国际原油供应商直接将货物以保税方式存放在保税交割仓库，无需缴纳进口相关税费。原油期货保税交割推行以来，企业的交易成本和交易风险都得到下降，我们有了实实在在的获得感。”洋山保税港区内企业申港国际石油储运有限公司一位负责人说。

以“国际平台、净价交易、保税交割、人民币计价”为创新特点的原油期货自2018年3月26日在上海期货交易所子公司上海国际能源交易中心上市以来，上海海关积极创新原油期货保税交割业务、海关监管制度和监管模式，对标国际先进水平，紧盯企业实际业务需求，开展原油进口全流程研究，完善原油入库通关流程，种好贸易便利化、原油期货国际化试验田。助力保障市场整体运行平稳，成交量和持仓量稳步增长，总体呈现“交易平稳、结算流畅、交割顺利、监查严格、风控到位、舆论正面、服务实体经济功能初步显现”的良好发展态势。

“期货商品的关键在于流通性，海关想企业之想，充分考虑了我们对于标准仓单可质押、可转让和异地交割等实际业务的需求，为我们企业办了实事。”申港国际石油储运相关负责人说。开展期货保税交割业务后，允许指定交割仓库同一个储罐存放不同货主的期货保税原油，不设定存储期限，可以充分发挥原油期货作为大宗商品的金融属性。作为我国首个国际化的期货品种，原油期货上市以来的平稳运行和功能逐步发挥，为后续推出更多国际化品种奠定了基础，也为我国期货市场国际化的市场运作和监管积累了经验。

据统计，原油期货上市以来，上海、大连、湛江、舟山等地5家指定交割仓库顺利完成7次交割，累计交割量719.7万桶。累计生成仓单412.5万桶，完成报关进口155.2万桶，完成广东湛江至上海洋山转关65万桶。