Financial News
Written by: Zhang Weilun
2020-11-09 14:20
Last update date: 2020-11-09 14:20
The Digital Currency Research Institute of the People's Bank of China and the Monetary Authority signed a memorandum of cooperation, laying the foundation for cross-platform project cooperation between the trade finance blockchain platform and the trade linkage platform.
After the completion of the docking of the two platforms, it will provide more convenient trade financing services for enterprises in the Mainland and Hong Kong, which is conducive to improving the mutual trust and facilitation of cross-border trade financing, helping enterprises to "go global" and reducing the cost of foreign trade financing for SMEs .
The Bank of Communications pointed out that it is brave to be the "vanguard" of reform and innovation. By leveraging the advantages of the blockchain trade finance platform, it will combine blockchain technology with trade finance to solve traditional cross-border trade finance in identity authentication, information transmission, and data security. In terms of industry pain points and difficulties.
Enable financial services to enjoy the operational convenience, efficiency, security and sharing brought by blockchain technology.
The Bank of Communications pointed out that on October 19 this year, the Shenzhen branch of the Bank of Communications cooperated with the Hong Kong branch to land one of the first domestic trade financing businesses in the cross-platform project of the financial blockchain platform of the Central Bank's Digital Research Institute.
The Bank of Communications pointed out that in the future, it will continue to serve the win-win development of cooperation in the Guangdong-Hong Kong-Macao Greater Bay Area with practical actions, further promote the sustainable development of financial technology cooperation between the Mainland and Hong Kong, and help the global financial strategy to create an open, inclusive, and co-constructed financial ecosystem Make a contribution.
Bank of Communications trade linkage (eTradeConnect)