GACC Announcement No.71, 2016 on “Bonded Spot Trading” in Customs Special Control Areas

In order to standardize “bonded spot trading in staple commodities” in Customs special control areas, relevant matters are hereby announced:

1. The practice of “bonded spot trading in staple commodities” herein means that the Customs is responsible for controlling the bonded trading on spot trading platform in staple commodities (basic industrial raw materials, agricultural products and energy resources) warehoused within Customs special control areas.

2. This Announcement is applicable to all types of Customs special control areas.

3. The types of commodities under spot trading shall be registered with the Customs in advance by spot market operator or an authorized warehouse-warrant publisher.

4. In order to be warehoused in the control areas, the commodities from abroad or from outside of the control areas shall be subject to the Customs formalities for import goods and shall be stacked in marked locations in a designated warehouse.

5. The holder of bonded warehouse warrant shall designate an authorized publisher to publish the warrant to the public and relevant information to the Customs; the spot trading platform shall provide the Customs with commodity delivery/settlement price information.

6. The enterprises eligible for the “bonded spot trading in staple commodities” shall be connected with Customs-controlled information system through compliant authentication and shall deliver relevant data or information to the Customs.

This Announcement shall enter into force upon its issuance.




General Administration of Customs of China (GACC)
November 29, 2016