As warehouse receipt transaction is a specific transaction form between finance and commodity trade, it is strictly managed by the state in China, and warehouse receipt transaction is not allowed without the authorization of the state.

Therefore, warehouse receipt trading has a specific explanation in China, that is, warehouse receipt trading is carried out through the commodity trading market designated and authorized by the state. Domestic markets (institutes) that can engage in warehouse receipt trading are: China Commodity Exchange, Shanghai Futures Exchange, Zhengzhou Commodity Exchange and Dalian Commodity Exchange. Among them, China Commodity Exchange is a specialized market for warehouse receipt transactions designated by the state, while the other three exchanges are futures exchanges, and warehouse receipts only participate in the delivery of futures contracts. Warehouse receipt is the final delivery in futures trading.