Guangxi launched a pilot cross-border financial blockchain service platform led by the State Administration of Foreign Exchange

On October 28th, Guangxi launched a pilot cross-border financial blockchain service platform to ease the problem of financing difficult financing for enterprises. The cross-border financial blockchain service platform is a business processing platform initiated by the State Administration of Foreign Exchange, and the local foreign exchange management bureaus and banks participate in the joint construction. According to the introduction of the Nanning Central Branch of the People's Bank of China, Guangxi was officially approved for the pilot on October 12, 2019. It is reported that the current platform pilot includes two business scenarios, namely, “export receivables financing (after delivery) and “enterprise cross-border credit information authorization verification”. Next, the People’s Bank of China Nanning Central Branch (Forex Administration Guangxi Branch) The banks with market and demand will be organized to participate in the pilot as soon as possible.