Bank of Communications Governor Ren Deqi: Bank of Communications Landscaping "Block Chain Trade Finance" Innovation

According to Xinhua News, on November 6, Rende Qi, Governor of the Bank of Communications, said at the 2nd China International Import Expo “Importing Import and Trade Facilitation in the New Era”, Bank of Communications launched a pilot program of high-level trade facilitation and landed trade balances. Measures such as electronic document review, pilot foreign exchange receipts and payments facilitation of goods trade, etc., saving enterprise document preparation and review time of more than 50%. Actively participate in a single window in Shanghai, Shenzhen and other online business innovation, launch online trade financing services, truly "let the data run more, let the company run less errands", as of the end of September, the number of Shanghai single window signing customers in Shanghai Top in the list. Landing “blockchain+trade finance” innovation, launching a letter of credit and asset securitization platform based on blockchain technology, the business processing time was shortened by an average of 3-5 days.