The first-ever nationwide bonded trading of soybeans with spot delivery was launched in Zhoushan on Dec 22.

As a new model for the imported soybean trade, bonded trading with spot delivery breaks through the traditional regulatory framework and holds significant milestone significance, said Xiong Bang, deputy director of the International Trade Department of Zhoushan Lianghai Grain and Oil Co, located in the Zhoushan Grain Industrial Park.

Xiong added that with the implementation of bonded trading with spot delivery for imported soybeans, the soybeans can be stored in the bonded trading warehouse before being transferred and distributed, greatly enhancing the flexibility of the trade and improving its circulation efficiency.

The bonded trading warehouse for imported soybeans will not only generate certain income by providing warehousing and logistics services, but will allow the company to obtain more soybean raw materials at lower costs, and participate in bonded trading for imported soybeans as a trader, according to Xiong.