In Qingdao Customs District, 201.6 tons of natural rubbers (No. 20 rubber) from Thailand cleared customs at Huangdao Customs House on November 11. The imported rubbers, used for China’s first bonded delivery of No. 20 rubber futures, are stored in a bonded delivery warehouse at the port of Qingdao located in China (Shandong) Pilot Free Trade Zone, and they will be physically delivered in February 2020.
No. 20 rubber is a basic raw material for tire manufacturing. On August 12 this year, No. 20 rubber was officially listed by Shanghai Futures Exchange as the new trading item on China’s futures market. In Qingdao, there are six delivery warehouses designated for No. 20 rubber futures, with storage capacity totaling 260,000 tons, accounting for 70% of such nationwide capacity, thus making Qingdao the major delivery venue for No. 20 rubber futures.
Paying close attention to the bonded futures delivery, Qingdao Customs assigned special personnel to relevant control and services, guiding the warehouses to compliance with regulations and coordinating with Shanghai Futures Exchange in business and policy consultation for enterprises, to ensure the implementation of the delivery.
With customs support, bonded physical delivery of No. 20 rubber futures will further consolidate Qingdao’s advantage in rubber importation and achieve domestic, external interconnection of the futures and the spot, so as to better serve upstream and downstream enterprises in the rubber industrial chain.
General Administration of Customs of the People's Republic of China
Address: No.6. Jianguomennei Avenue, Dongcheng District, Beijing, China Postcode: 100730