CICC has not made it clear that treasury bonds futures are not allowed to be delivered by individual investors. Treasury bond futures are delivered in kind, using a combination of centralized delivery at maturity and rolling delivery.

Deliverable bonds shall meet the following conditions:

(1) Book-entry treasury bonds issued by People's Republic of China (PRC) and the Ministry of Finance;

(2) Listed and traded on the national inter-bank bond market, Shanghai Stock Exchange and Shenzhen Stock Exchange at the same time;

(3) Fixed interest rate and regular interest payment;

(4) The remaining term on the first day of the contract expiration month is 6.5 to 10.25 years;

(five) in accordance with the relevant provisions of the transfer of treasury bonds;

(6) Other conditions stipulated by the Exchange.