Guangzhou Nansha launches Guangdong Province’s first offshore spot bonded transaction of soybeans

China News Service, Guangzhou, June 27 (Xu Qingqing Guan Yue) About 28,000 tons of imported soybeans aboard the "Zhunxing 9" cargo ship docked at Guangzhou Nansha Grain General Terminal on the 26th. Under the supervision of Nansha Customs officers affiliated with Guangzhou Customs, the batch of goods successfully completed entry customs clearance, bonded warehousing and physical delivery of the goods, marking the official launch of Guangdong Province's first offshore soybean spot bonded transaction in Nansha.

This is an important institutional innovation achievement in the implementation of the "Guangzhou Nansha Comprehensive Plan for Deepening Comprehensive Cooperation between Guangdong, Hong Kong and Macao facing the world", and is also a direct result of the coordinated development of the commodity field in the Guangdong-Hong Kong-Macao Greater Bay Area.

Customs officers from Nansha Customs, affiliated with Guangzhou Customs, supervise the first offshore spot bonded transaction of imported soybeans in Guangdong. Photo by Li Huopeng

Nansha Grain General Terminal is the largest grain import port in Guangdong Province. In February this year, the terminal was officially approved as the designated soybean delivery agency of the Qianhai Joint Trading Center, becoming the fifth soybean offshore spot bonded trading warehouse in the country and the only one in Guangdong Province, with an approved bonded storage capacity of 30,000 tons.

Under the traditional model, imported soybeans are subject to a fixed flow management of "one enterprise, one flow". Enterprises need to determine the final receiving and processing factory before the goods are shipped. There is a lack of flexible space in the intermediate links, and enterprises may face changes in market conditions, downstream demand, etc.

Nowadays, when companies apply for entry animal and plant quarantine licenses, they can set the Nansha Bonded Trading Warehouse as a domestic storage place. Soybeans in a bonded state can be freely traded and transferred among domestic industry chain operators, which helps companies flexibly adjust their sales strategies and improve capital turnover efficiency. It also improves the circulation efficiency of agricultural products in the country and opens up the "single-directional" purchase and sale model of soybeans.

Huang Yuewu, deputy chief of the comprehensive business section of Nansha Customs, said that the customs will continue to optimize the bonded transaction supervision service process, support more grain and oil trading and processing companies to participate in offshore spot transactions, and help promote Nansha to accelerate the creation of a bulk commodity resource allocation hub in the Guangdong-Hong Kong-Macao Greater Bay Area. (over)