What does the net price trading of crude oil futures mean?
Net price transaction, excluding customs duties and value-added tax, is convenient for direct comparison with the duty-free price in the international crude oil market, and at the same time avoids the impact of changes in domestic tax policies on prices. Bonded delivery, also based on net price transactions, is delivered directly outside domestic and overseas customs, avoiding the impact of changes in tariffs, value-added tax and tax policies on delivery. The pricing of RMB mainly lies in trading and delivery, which enhances the international influence of RMB and is conducive to the stability of RMB exchange rate.