Warehouse receipt is a certificate issued by the custodian to the depositor to pick up the goods after receiving them. Warehouse receipts can not only be used as receipt documents and goods receipts, but also transfer the ownership of goods under warehouse receipts by endorsement, or be used for pledge. The transfer of warehouse receipts shall take effect after endorsement by the depositor and signature or seal by the custodian. When the depositor pledges the warehouse receipt, he shall sign a pledge contract with the pledgee, endorse the warehouse receipt and sign or seal it by the custodian. The pledge will take effect only after the warehouse receipt is delivered to the pledgee.

It is a convenient trading arrangement introduced by futures companies for spot entities, and the starting point is also to serve the real economy. It is an innovative spot business type of futures companies.