Notice of the General Administration of Customs on

Announcement of the General Administration of Customs on carrying out bonded delivery business of natural rubber futures

in order to implement the "several opinions of the State Council on promoting the high-level opening and high-quality development of comprehensive bonded zones" (GF [2019] No. 3), support the development of bonded delivery business of natural rubber futures, and clarify the requirements of customs supervision, the relevant matters are hereby announced as follows:

I The bonded delivery business of natural rubber futures shall be carried out in the special supervision area or bonded supervision place of the customs. Shanghai International Energy Trading Center shall file with the General Administration of customs the deliverable varieties and designated delivery warehouses that carry out bonded delivery business of natural rubber futures

II. Shanghai international energy trading micro printer and other constituent centers shall realize computer connection with the designated delivery warehouse competent customs, and provide the customs with electronic information such as bonded delivery settlement sheet (Annex 1) and bonded standard warehouse receipt list (Annex 2) in real time

III. after the bonded delivery of natural rubber futures, the tax payment price shall be determined in the following ways:

(I) if the bonded standard warehouse receipt is adopted for due delivery, it is proposed to strive to determine the tax payment price by 2020 based on the bonded delivery settlement price of natural rubber futures of the international energy trading center plus the delivery premium under the gradual awakening of Shanghai in the international market

(II) if bonded standard warehouse receipts are used for spot delivery, the tax payment price shall be determined on the basis of the settlement price of the natural rubber futures contract in the latest month issued by Shanghai international energy trading center on the trading day before the date of application for spot delivery, which promotes industrial development in two aspects, plus the delivery premium

(III) if non-standard warehouse receipts are used for cash delivery, or bonded standard warehouse receipts are used but transferred or cancelled without futures bonded delivery, the duty paid price shall be determined according to the relevant provisions of the current domestic sale of bonded goods

IV. bonded standard warehouse receipts can be pledged with the permission of the customs

this announcement shall enter into force as of the date of promulgation

it is hereby announced