The Shanghai project of the National Commodity Warehouse Receipt Registration Center has arrived, officially launched and running in Shanghai | Commodity | Warehouse Receipt
On June 30th, the Shanghai project of the National Bulk Commodity Warehouse Receipt Registration Center was officially launched and put into operation, marking a new stage in the construction of the full warehouse registration project and better serving the construction of the unified national market.
The project is jointly constructed by the Pudong New Area Government in conjunction with the China Free Trade Zone Management Committee, Lingang New Area Management Committee, Shanghai Local Financial Supervision Bureau, Shanghai Municipal Commission of Commerce, Shanghai Customs, Shanghai Futures Exchange, and Shanghai Commodity Warehouse Receipt Registration Co., Ltd. The aim is to create a digital commodity warehouse receipt registration and publicity system, achieving unified registration, digital supervision, integration of futures and cash, and industry finance interoperability for commodities. This is also another important progress after the pilot launch of low sulfur fuel oil and No. 20 rubber varieties in the Zhejiang Free Trade Zone and Qingdao Free Trade Zone in the early stage.
The registered varieties of the Shanghai project are bonded copper, No. 20 rubber, and low sulfur fuel oil, covering futures delivery warehouses such as Shitianwei Waigaoqiao, China National Reserve Lingang, Shitianwei Yangshan, Hengruibao, etc. in the Shanghai Free Trade Zone and Lingang New Area, as well as international logistics spot warehouses under Lingang Group's Shanghai Comprehensive Bonded Zone. On the day of launch, a total of 2493 tons of bonded copper and 2621 tons of No. 20 rubber standard warehouse receipts were registered and put on the chain. The first registration of the bonded copper variety on the chain is at the Shanghai Free Trade Zone Shitianwei Waigaoqiao Warehouse; The first order of No. 20 rubber variety is registered as the Lingang New Area Zhongchu Lingang Warehouse.
The person in charge of the Shanghai Futures Exchange stated that previously, with the strong promotion of the Pudong New Area government, Shanghai Futures Exchange, and various shareholder units of Cangdeng Company, the national bulk commodity warehouse receipt registration center was officially launched in Pudong on November 23, 2022, and the "Pudong New Area Bulk Commodity Warehouse Receipt Registration Center Management Measures" were issued and implemented on February 1, 2023. Next, all parties will further strengthen cooperation, jointly deepen the construction of system functions, implement the application scenarios of full warehouse registration business, expand the types of warehouse receipt registration, and leverage the policy advantages of local legislation in Pudong New Area to promote warehouse receipt legislation, promote the establishment of full warehouse registration associations, standardize and lead industry development, and promote the construction of a unified national market.
Industry experts believe that the steady progress of full warehouse registration, an important financial, trade, and digital infrastructure construction, will contribute to the continuous improvement of the ecosystem and integrity system of the commodity market, and is of great significance in ensuring the safe circulation and operational efficiency of the entire commodity industry chain.
