Shandong Bank Of China's First Performance Bond Business For Alumina Factory Warehouse Receipts in The Province

Recently, Bank of China in Shandong successfully processed a performance bond for a key enterprise in its jurisdiction for an alumina factory warehouse receipt of 26 million yuan, supporting the development of the alumina futures market in Shandong Province and further enriching the bond business to serve the real economy in new scenarios.
The performance bond for factory warehouse receipts is a written commitment issued by Bank of China to the futures exchange in response to the application of the designated futures warehouse. It guarantees that the warehouse will deliver physical goods that meet the quantity and quality requirements to the holders of standard warehouse receipts in accordance with the Factory Warehouse Agreement signed with the exchange and relevant rules of the exchange. It is an important part of connecting bank credit and commodity futures trading.
Aluminum oxide futures are a new variety listed and traded on the Shanghai Futures Exchange on June 19, 2023. As a major province in China's aluminum industry, Shandong has a promising market prospect. Bank of China has maintained good cooperation with the Shanghai Futures Exchange for a long time, and the balance of performance guarantees for factory warehouse receipts has always been leading in the industry.
To ensure the smooth listing of alumina futures products, Shandong Bank of China, as the only invited bank, participated in the alumina futures product training conference held by the Shanghai Futures Exchange, promoting the Bank of China's factory warehouse receipt performance bond product plan to participating enterprises. After the meeting, the bank took the initiative to serve and connect with alumina enterprises stationed in Shandong, providing a full process service plan, and ultimately successfully obtained the province's first alumina factory warehouse receipt performance bond for a key enterprise in Shandong Province.
The implementation of the performance bond business for alumina factory warehouse receipts not only demonstrates the innovative ability and brand advantages of Bank of China in the field of futures product financial services, but also reflects its determination to actively support the development of the real economy. In the next stage, Bank of China in Shandong will continue to practice the responsibility of state-owned banks, adhere to the value orientation of "putting the people at the center", continuously innovate financial products, optimize financial service processes, and assist in the high-quality development of local economy.

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