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Macro-economy

China launches the first Sino-Europe trade link platform

November 08, 2019


Abstract : The Sino-Europe Trade Link, China's first multi-modal single-system cross-border platform, was officially launched recently in southwest China's Sichuan Pilot Free Trade Zone (FTZ), marking a significant step forward in the integration of China-Europe freight train and financial service.

BEIJING, Nov. 8 (Xinhua) – The Sino-Europe Trade Link, China's first multi-modal single-system cross-border platform, was officially launched recently in southwest China's Sichuan Pilot Free Trade Zone (FTZ), marking a significant step forward in the integration of China-Europe freight train and financial service.

Since the operation of the platform in late October this year, several enterprises have operated their business through the platform and realized instant data interconnection with several overseas institutions, such as the Industrial and Commercial Bank of China (ICBC) branches in Abu Dubai, involving transaction value of nearly 100 million yuan.

It is noted that the platform combines blockchain technology with multi-modal transport and single-system business links through innovation, connecting all parties to provide trade logistics information support for corporate finance.

Sichuan FTZ has granted the property right to the single-system platform through process re-engineering and system innovation, and it has been included in list of Deliverables of the Second Belt and Road Forum for International Cooperation.

Developed by Sichuan Branch of Industrial and Commercial Bank of China (ICBC), the platform will assist ICBC to realize the whole-process monitoring of the cross-border supply chain and effectively promote inclusive finance and international trade along the China-Europe freight train route. (Edited by Jiang Feifan)

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Keyword: China-Europe freight trains Sichuan FTZ

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