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First financing business of blockchain electronic bills of lading of China-Europe Railway Express conducted in Chongqing

2023-06-06 11:51:59

CHONGQING (CQNEWS) -- Recently, Yuxinou Company has successfully conducted its first financing business of blockchain electronic bills of lading, marking another major breakthrough in the functional financing model of the cross-border logistics document of title of the China-Europe Railway Express in Chongqing.

China-Europe Railway Express (Yuxinou) (File photo)
China-Europe Railway Express (Yuxinou) (File photo)

Chongqing is a pilot city for the document of title of China-Europe Railway Express freight trains in China. The electronic bills of lading of international railway intermodal transportation, based on the blockchain electronic bill of lading system of the cooperative bank, are directly issued by Yuxinou Company and transferred to the consignee through the system. No collateral is needed, instead, with this electronic bill of lading, financing loans will be successfully made. It is paperless, visual, controllable, and traceable throughout the whole loan process.

Compared with the original paper bill of lading, this time, through the blockchain technology of the bill of lading digital platform, the transported goods will be put on the chain to form an electronic bill of lading, realizing online circulation and financing, which can solve the bottleneck of authenticity verification, anti-codification, etc., making it more efficient, realistic and convenient in operation, and truly making financial innovation of the supply chain of integration of business flow, logistics, information flow and capital flow.

It takes less than 2 days for the electronic bill of lading from issuance to circulation, financing and payment. The importers' capital turnover rate, supply chain management efficiency, and cargo control ability have been significantly improved, and operational risks have been further reduced.

It is worth mentioning that this financing model for railway electronic bills of lading is mainly "station to station", which can be replicated, promoted, and easily formed into standardized products. The expansion of railway bill of lading financing from "station to station" to "warehouse to warehouse" will be the development trend of the industry in the future. Once the model is formed, it will bring changes to the replication and application of railway electronic bills of lading in the cross-border logistics industry. (Translated by Hu Chuanmin, Fathom Language Limited)

Editor:Jiang Yiwei