原油保税交割：含义与影响

中文版

原油保税交割是指在特定监管区域内，以保税状态进行原油期货合约的实物交割。这一过程涉及期货合约的到期履行，买卖双方通过交付或接收原油来平仓。原油保税交割的实施，标志着我国原油期货市场的进一步完善，同时也为原油贸易提供了更加灵活和便利的交易方式。

英文版

Oil bonded delivery refers to the physical delivery of crude oil futures contracts in a bonded status within a specific supervised area. This process involves the fulfillment of expired futures contracts, where buyers and sellers square their positions by delivering or receiving crude oil. The implementation of oil bonded delivery signifies the further improvement of China's crude oil futures market, providing a more flexible and convenient trading method for crude oil trade.

中文版

原油保税交割作为一种新型交易方式，具有以下显著特点。首先，它降低了交易成本，买卖双方无需在期货合约到期前进行平仓操作，从而避免了提前平仓可能产生的额外费用。其次，保税交割有助于提升市场流动性，吸引更多投资者参与原油期货交易，进一步活跃市场。最后，原油保税交割还有助于推动原油贸易的国际化，提高我国在国际原油市场中的影响力。

英文版

Oil bonded delivery, as a novel trading method, exhibits distinct characteristics. Firstly, it reduces transaction costs as buyers and sellers are not required to square their positions before the expiry of futures contracts, thus avoiding potential additional expenses incurred from early liquidation. Secondly, bonded delivery enhances market liquidity, attracting more investors to participate in crude oil futures trading and further boosting market activity. Lastly, oil bonded delivery promotes the internationalization of crude oil trade, elevating China's influence in the global crude oil market.

中文版

原油保税交割的实施对于我国原油期货市场具有重要意义。一方面，它有助于完善我国原油期货市场的交易制度和交割体系，提高市场的规范化程度。另一方面，保税交割有助于推动我国原油贸易的转型升级，增强我国在国际原油市场中的竞争力。同时，原油保税交割的实施还需要加强监管，确保市场的公平、公正和透明，防范市场风险。

英文版

The implementation of oil bonded delivery holds significant implications for China's crude oil futures market. On one hand, it contributes to improving the trading system and delivery mechanism of China's crude oil futures market, enhancing market standardization. On the other hand, bonded delivery facilitates the transformation and upgrading of China's crude oil trade, bolstering its competitiveness in the international crude oil market. Meanwhile, the implementation of oil bonded delivery necessitates strengthened supervision to ensure market fairness, impartiality, and transparency, and to guard against market risks.