From 20 10, 12 and 1, the subject matter of futures bonded delivery traded by members and customers of Shanghai Futures Exchange is still temporarily exempted from VAT. The seller of bonded delivery of futures shall provide the written explanation of bonded delivery of futures in the current period, the delivery slip of Shanghai Futures Exchange, bonded warehouse receipts and other materials when filing tax returns with the competent tax authorities. However, the physical delivery of non-bonded goods futures is still carried out in accordance with the provisions of the Notice of State Taxation Administration of The People's Republic of China, People's Republic of China (PRC) on Issuing the Specific Measures for the Collection of Value-added Tax on Goods Futures.

Previously, in China, the physical delivery of some futures was carried out after the goods entered the customs, and the transaction risk and transaction cost were relatively high. After the futures bonded delivery business is launched, enterprises can place orders on the Shanghai Futures Exchange, and international suppliers will directly put the goods into the bonded delivery warehouse. On the one hand, this trading method will strengthen the linkage relationship between the varieties of the previous period and the prices of foreign commodities, and make it play an increasingly important role in the pricing system of related commodities in the international market; On the other hand, the exemption of value-added tax for futures delivery in the bonded area will attract more processing traders to use the domestic futures market for hedging operations, and further broaden the scope of the domestic futures market to serve the real economy.

In addition, the pilot of bonded futures delivery is also of great benefit to the construction of Shanghai International Shipping Center. With the promotion of preferential policies, more international merchants may consider building delivery warehouses in Shanghai Yangshan Port and other bonded areas, which will further expand Shanghai's shipping market.