On September 24, 2026, 66 Cloud Chain, a platform under Sinochem Holdings, completed its first spot delivery business of battery-grade lithium carbonate, a new energy product, and settled the funds through Commodity Clearing Net of Shanghai Clearing House (hereinafter referred to as CCNet).
The new energy industry occupies an important strategic position in China’s clean energy transition, energy security, and overall economic development. Known as “white petroleum” , lithium carbonate is a core upstream raw material of the lithium battery industry chain and is widely used in core new energy fields such as electric vehicles and energy storage. The delivery via CCNet is a concrete practice by which Shanghai Clearing House, together with relevant market institutions, implements the deployment of building a new energy system under the “15th Five-Year Plan” and serves the security and stability of the supply chains of key new energy materials.
In addition, under the framework of Shanghai’s authentic commodity trade rules and supportedd by financial infrustructures, the transaction integrated the transaction flow, goods flow, and fund flow. COSCO Shipping Logistics Supply Chain (Qingdao) ensured the authenticity and safety of the goods. Based on a spot-futures linkage business structure, CITIC Global Trade, the risk management subsidiary of CITIC Futures, a leading domestic futures company, conducted genuine trade with local enterprises in Shanghai and provided supporting price risk management services. This business has a demonstration effect on Shanghai’s efforts to build commodity resource allocation hub and credible, authentic trade environment.
Going forward, with the goal of establishing a core infrastructure for over-the-counter centralized clearing of commodities, Shanghai Clearing House will continuously expand the coverage of the Commodity Clearing Net in terms of clearing categories and application scenarios for key commodities such as new energy materials, providing solid financial infrastructure support for building a new energy system and promoting the high-quality development of the real economy.
Overview of Commodity Clearing Net and Its Services for the New Energy Industry
Commodity Clearing Net is the first and only fund clearing and settlement service in China based on enterprises’ genuine trade with the “three flows in one” and entity accounts. Featured as safety and compliance, high efficiency for large amounts, and cross-bank and cross-border capabilities, it solutes pain points for market participants in the transaction and delivery chains of commodity spot trade and effectively supports the development of key commodity industries in various regions through a “multiple spot platforms plus unified centralized clearing” model.
As of August 2026, the Commodity Clearing Net has continuously expanded its service scope, achieved steady growth in business scale, and delivered remarkable results. It has cumulatively connected with 11 platforms and 34 warehousing institutions, covering 72 products across 8 industries, i.e chemicals, non-ferrous metals, ferrous metals, oil and gas, agricultural products, new energy, carbon emissions, and precious metals. Together with 23 commercial banks, it serves more than 18,000 entity enterprises, most of which are small, medium, and micro-sized. It has cumulatively handled 840,000 spot transactions, with a delivery volume of over 500 million tons and a clearing amount exceeding RMB 3.6 trillion.
At present, the Commodity Clearing Net has been able to provide fund clearing and settlement services for the spot transaction and delivery of four categories of new energy products, namely lithium carbonate, lithium hydroxide, nickel sulfate, and cobalt sulfate.
