Bonded receipts carry SHA-256 proofs banks recompute independently. 50,000 t of natural rubber at CNY 100.5m value moves pledge funding from T+3 to T+0, lifting turnover to 10x+.

The transport and maritime regulators have widened the green bunker-fuel pilot — methanol and LNG — to more ports including Shanghai, Ningbo-Zhoushan and Guangzhou. Bonded bunkering is no longer just very-low-sulphur fuel oil; new rules for green-fuel bonded supply and settlement will reshape the cargo books of port operators and traders.