Related News
Shanghai FTZ finalizes rules for commodity spot trading
Online Edition
RULES for spot trading of commodities in Shanghai’s pilot Free Trade Zone have been finalized, paving the way for the zone to set up international trading exchanges for various commodities.
The regulation, released today on the city government’s website, sets out requirements for market participants, transaction and settlement methods, regulations on fund management and product delivery as well as risk control measures.
The zone will allow the transactions of bonded commodities as well as warehouse receipts and bills of lading of underlying bonded commodities, according to the regulation.
Commodities traded in the FTZ should be at pretax prices that exclude import tariffs and value-added taxes, it said.
In a bid to prevent bogus transaction and enhance risk management, the rules require commodity market operators to employ separate third-party institutions to take care of trading, fund custody, fund settlement and commodity warehousing.
An international gold board has been installed in the zone to boost China’s sway in the global bullion market and promote yuan internationalization.
The Shanghai government has said earlier it plans to set up eight international platforms to trade oil, gas, iron ore, cotton, liquid chemicals, silver, bulk commodities and nonferrous metals in the zone by 2015 as the city bids to build itself into a global trading hub.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
