Deputy Director of Shanghai Municipal Commission of Commerce: Shanghai International Trade Single Window Adopts Blockchain Technology to Reduce Financing Risk

The Shanghai International Trade Single Window “Blockchain+” press conference was held on the morning of November 7th at the National Convention and Exhibition Center. Shen Weihua, deputy director of the Shanghai Municipal Commission of Commerce, said that with the support of the Shanghai headquarters of the People's Bank of China and the support of various financial institutions, Shanghai's international trade single window has added cross-border RMB trade financing services, relying on the single-window platform big data advantage, using blockchain. Technology, to solve the core problem of information asymmetry in the process of trade financing, reduce the financing risks of financial institutions, and reduce the financing costs of import and export enterprises.