Bank of Communications and Construction Bank Sign Blockchain Trade Finance Cooperation Framework Agreement

According to Zhejiang Online News, Bank of Communications and China Construction Bank recently signed a blockchain trade finance cooperation framework agreement in Shanghai. According to the agreement, the two parties will establish a long-term and stable cooperative relationship, and regard each other as their important partner in the blockchain trade finance field, and actively carry out blockchain trade and financial cooperation. Hou Weidong, deputy governor of Bank of Communications, and Zhang Lilin, deputy governor of China Construction Bank, agreed that commercial banks should deepen their application of science and technology in the current and future of China's banking industry facing the challenges of rising debt costs, increased risk exposure, increased market competition and increased capital constraints. And the exploration and practice of financial innovation, accelerate the development and application of information technology, and provide customers with better products and services with more value-added. It is reported that the signing of this agreement will promote the development of blockchain trade finance cooperation between CCB and Bank of Communications, including the cross-linking of the Forfeiting trading platform.