Chongqing Foreign Exchange Management Department: Cross-border financial blockchain service platform saves 90% of verification time compared to the traditional model

According to the China News Network, the State Administration of Foreign Exchange Chongqing Foreign Exchange Management Department announced today that the application of the cross-border financial blockchain service platform saves 90% of the verification time compared with the traditional model and significantly improves financing efficiency. In the next step, the Chongqing Foreign Exchange Management Department will continue to advance the pilot, explore new application scenarios in combination with the needs of the new land and sea trade channel in the western part of the country, and further promote cross-border settlement and investment and financing convenience.