Xinhua News Agency: Blockchain Technology Facilitates Trade Facilitation in the Greater Bay Area

According to Xinhua News Agency, China Merchants Port Group and Financial OneAccount held the signing ceremony of the “Guangdong-Hong Kong-Macao Greater Bay Area Port Logistics and Trade Facilitation Blockchain Platform Project” on the 31st in Shenzhen. Both parties will use blockchain as the underlying technology. Jointly promote the construction of smart ports, help ports and upstream and downstream companies to reduce costs and increase efficiency, transform and upgrade, and improve the overall efficiency of the customs clearance and business environment in the Greater Bay Area. Ye Wangchun, chairman and CEO of Financial OneAccount, said that based on blockchain technology, China Merchants Port can build a smart port logistics platform that connects customs, ports, carriers, shippers, freight forwarders, financial institutions and other relevant parties. Through the integration and sharing of "information flow, logistics, and capital flow", the platform can achieve the practical effects of improving efficiency, improving efficiency, controlling risks, and controlling costs. In the future, the platform will gradually realize its long-term vision of “precision regulation, intensive logistics, intelligent operation, process visualization, and financial inclusion”.