On the same day, China Railway Chengdu Bureau Group Co, Ltd. released the relevant documents on the pilot financial innovation of the "one-single system" for international railway intermodal transport, and announced the pilot rules of the "one-single system" trading mode of the first international letter of credit based on the international railway intermodal transport bill, which was jointly designed with the Bank of China. Accordingly, the Bank of China, Sichuan Branch, Jinjiang Branch, Chengdu, opened the first international letter of credit under the "one-single system" project of international railway intermodal transport bill in China. This is an innovative pilot project based on the financialization of railway waybill. The successful implementation of this work also marks the initial results of the integration of innovative development among different modes of transport, logistics and finance.
As early as September last year, Chengdu Railway Administration Group Co, Ltd. of China, in conjunction with the Bank of China, completed the first domestic L/C settlement pilot of goods trade based on Railway waybill, which was listed as an important achievement of replication and promotion of innovation in FTA. This time, the railway and bank cooperate again, providing new trade settlement and financing services for railway transport enterprises, especially international railway intermodal transport enterprises. It is of positive significance to promote related enterprises to reduce logistics costs, supply chain capital costs, especially to alleviate the financing difficulties of small and medium-sized enterprises.
The purpose of this work is to implement the relevant policy of Article 18 of the State Council Notice on Measures to Support the Deepening Reform and Innovation of Free Trade Pilot Zones (Guofa No. 38, 2018), "Exploring the Function of Real Right Documents of International Railway Transport Documents". It is of great significance to Promote Railway domestic and international trade and implement the "one belt and one road" initiative.
Next, China Railway Chengdu Administration Group Co, Ltd. will explore and formulate new rules for international settlement and financing based on inter-border railway transport, which will provide more convenience for enterprises in international trade.
