Tianjin Cross-Border Financial Blockchain Service Platform Helps SMEs Financing

According to China Financial News Network, in October this year, according to the "Notice of the Comprehensive Department of the State Administration of Foreign Exchange on Further Expanding the Pilot Work of Cross-Border Financial Blockchain Service Platforms", Tianjin was officially approved to launch a cross-border financial blockchain service platform ( (Hereinafter referred to as "cross-border blockchain platform") pilot. As of the end of November, Tianjin had completed 18 receivables financing through cross-border blockchain platforms within the jurisdiction of Tianjin, with a loan amount of nearly 6 million US dollars, and 8 service companies, all of which were financing for SMEs. According to the relevant person in charge of the Tianjin Branch of the State Administration of Foreign Exchange, the pilot has effectively alleviated the financing difficulties and expensive financing problems of small and medium-sized enterprises, and also effectively solved the problems of bank financing risk control and foreign exchange department supervision, and achieved "a policy, A win-win situation for all parties. "