Loudi Branch of Agricultural Bank of China issues the first trade financing for foreign-related small and micro enterprises through a cross-border financial blockchain service platform

In recent years, in order to promote the pilot of the cross-border financial blockchain service platform, the Foreign Exchange Bureau's Loudi City Center Branch in Hunan Province has set up a working group to conduct business promotion online and offline through multiple channels, conduct centralized training for designated foreign exchange banks within its jurisdiction, and provide home-based guidance to banks. Starting a business guarantees the smooth launch of the platform in Loudi. Recently, the Bureau instructed the Loudi Branch of the Agricultural Bank of China to issue the first trade financing for small and micro enterprises involved in foreign affairs within the jurisdiction through a cross-border financial blockchain service platform, which amounted to USD 380,000. This is the platform ’s addition to the provincial capital Changsha in Hunan Province. The first foreign business is also the first foreign business handled by the Hunan Agricultural Bank system.