On July 8, the Shanghai Institute and the Free Trade Zone Administration of China (Shanghai) signed a strategic cooperation framework agreement in Shanghai to co-ordinate the development of onshore and offshore business and jointly promote the internationalization of China's commodity industry.
At the same time, Chen Yanfeng, deputy director of the Administrative Committee of China (Shanghai) Free Trade pilot Zone and deputy director of the bonded Zone Administration Bureau, Zhang Yi, deputy director of Shanghai Customs, Li Hui, deputy general manager of the Shanghai Institute, and Liu Hong, chairman of Waigaoqiao Group, jointly unveiled the designated delivery warehouse of Shanghai Copper-Shitianwei Logistics (Shanghai Waigaoqiao bonded Logistics Park) Co., Ltd. (hereinafter referred to as Shitianwei Waigaoqiao).
According to reports, Shanghai Waigaoqiao bonded Logistics Park, which was closed in 2004, is the first "zone-port linkage" pilot area in the country. After 17 years of exploration and practice, the comprehensive bonded area of Waigaoqiao Port, which was integrated and optimized by the original site, in-situ and original area of Waigaoqiao bonded Logistics Park, officially landed in 2021, and the special customs supervision area with the function of bonded port area after the park was upgraded. it integrates the functions of bonded area, export processing zone, bonded logistics zone and port, bringing a new engine for the high-quality economic development of the bonded area.
According to the Futures Daily reporter, Shitianwei Group is an internationally renowned multinational commodity warehousing service provider with service outlets all over the world's major commodity consumption centers and distribution centers. It is also the delivery warehouse operator of the three major commodity exchanges in Shanghai, London and New York. With the help of the establishment of the comprehensive insurance zone in Waigaoqiao Port and the landing of the customs warehousing cargo classification supervision policy, Shitianwei Waigaoqiao has become the first batch of international copper delivery warehouses in the last phase of energy in 2020, and has become the designated delivery warehouse for copper futures in the previous period, which marks that the copper varieties are on the basis of domestic and international double contract transactions. For the first time, it has realized the connection of "domestic futures, bonded futures, domestic spot and bonded spot" in the same reservoir area, and realized the "futures spot linkage and domestic and international connection" with zero logistics cost. This will help international copper and domestic copper futures to further form a joint force, better serve industrial enterprises at home and abroad, make overall use of two kinds of resources in both domestic and international markets, and enhance the global resource allocation ability of relevant market subjects. it is also conducive to attracting more international resources and elements into China, improving the efficiency and level of domestic circulation with international circulation, and better serving and leading the development of the real economy.
The reporter learned that international copper futures is the first futures variety to achieve domestic and international double contract trading in China's futures market. Since the listing, the trading and position of international copper futures have increased steadily, and the delivery volume has increased month by month. The international copper price has been gradually recognized by the copper industry in the Asia-Pacific region and has been adopted by some enterprises as the benchmark price of trade contracts. At the same time, the international copper futures warehouse receipt pledge business, bonded warehouse receipt transfer, physical customs declaration import and other businesses have all been opened.
The relevant person in charge of the last session said that 2021 is the first year of the 14th five-year Plan and coincides with the 100th birthday of the Party. In order to actively implement General Secretary Xi Jinping's requirement of "enhancing the price influence of important commodities, better serving and leading the development of the real economy" at the celebration meeting for the 30th anniversary of the development and opening up of Pudong, The Shanghai Stock Exchange will join hands with the Management Committee of the Shanghai Free Trade Zone and take the signing of this strategic cooperation agreement as an opportunity to strengthen business cooperation and information exchange, promote the internationalization of relevant futures varieties, explore innovative businesses such as overseas warehousing and bonded warehouse receipt trading, improve the operation quality of the comprehensive bonded zone, and jointly promote the Shanghai Free Trade Zone and the Shanghai futures market to move to a higher level and achieve a higher level of development. Create a world-class comprehensive bonded area and derivatives market, and constantly enhance the radiation and global influence of Shanghai International Financial Center.
