News on November 6, the latest data shows. Chongqing, China has become one of the provinces and cities with the most application scenarios of cross-border financial blockchain platforms.
As of the end of September this year. The Chongqing Foreign Exchange Management Department facilitated cross-border trade financing and settlement totaling US$22.3 billion.
Cross-border financial blockchain service platform. It is the first blockchain platform to be filed with the State Cyberspace Administration of China under the leadership of the State Administration of Foreign Exchange.
This platform can achieve multiple functions. For example, by accessing multiple financial institutions, when a company applies for export accounts receivable financing from a directly connected financial institution, the other party only needs to enter financing information.
Linkage cross-border financial blockchain service platform. It will be able to complete the verification of the rationality of the company’s import and export data and the authenticity of the customs information, which will greatly improve the timeliness of financing and lending.