1. For overseas institutional investors (including overseas brokerage institutions) who have not set up institutions or places in China, or those who have set up institutions or places, but their income is not actually related to their established institutions or places, their income from crude oil futures trading in China (excluding physical delivery income) will not be levied temporarily; Commission income obtained by overseas brokerage institutions in providing crude oil futures brokerage business for overseas investors in China does not belong to domestic labor income and is not subject to enterprise income tax.

2. From the date when crude oil futures are opened to the outside world, personal income tax will be temporarily exempted for three years on the income obtained by overseas individual investors from investing in crude oil futures in China.

Three, the State Council approved the opening of other commodity futures varieties, in accordance with the provisions of this notice of the tax policy.

Four, this notice shall come into force as of the date of promulgation.

Securities Regulatory Commission of the Ministry of Finance, State Taxation Administration of The People's Republic of China

20 18 mar 13