To Whom It May Concern:

To help build the Shanghai Futures Exchange (SHFE) into an international platform and make it easier for domestic and overseas investors to post China government bonds as margin collaterals, SHFE is hereby releasing the revised Guidelines of the Shanghai Futures Exchange on Posting Government Bonds as Margin Collaterals, which will come into effect from the date of release.

The English version of the Guidelines is available on SHFE’s English website. The English version is provided for reference only and in case of any inconsistency with the Chinese version, the Chinese version is definitive.

Questions may be addressed to the Clearing Department:
Contact: Zeng Zhijin, Yuan Bo
Telephone: (021) 6840 0423, (021) 6840 0421

Appendices:
1. Revision Note
2. Guidelines of the Shanghai Futures Exchange on Posting Government Bonds as Margin Collaterals

 Shanghai Futures Exchange
November 4, 2025