Xiamen Digital Trade Platform is officially launched for commercial use to facilitate digital RMB settlement of cross-border trade

China News Service, Xiamen, September 9th (Reporter Lin Yongchuan) On the 9th, the Xiamen Digital Trade Platform Commercial Promotion and Cross-Border Trade (Ci Yuan Going Overseas) Digital RMB Service Innovation Conference was held at the Xiamen International Expo Center.

On September 9, Xiamen Digital Trade Platform was commercially launched. The picture shows the launch ceremony scene. Photo courtesy of Huli District, Xiamen City

Chinese and foreign guests such as Lu Lei, Vice Governor of the People's Bank of China, Jiang Erxiong, Vice Governor of the Fujian Provincial People's Government, Chris Isokeponwu, Permanent Secretary of the Ministry of Industry, Trade and Investment of Nigeria, attended and delivered speeches.

At the press conference, the Xiamen Digital Trade Platform was commercially launched.

Xiamen Digital Trade Platform is an innovative application platform for cross-border trade digital renminbi that Xiamen City focuses on building. The platform focuses on the pain points of high cross-border trade settlement fees, slow arrival, complicated procedures, and difficult risk control. Relying on the CBETS cross-border settlement comprehensive service platform (CBETS) built by the Digital RMB International Operation Center, it cooperates with commercial banks and payment institutions to provide one-stop digital finance and trade supporting services for foreign trade companies and cross-border e-commerce. Among them, Shucoin, as a digital RMB cross-border payment infrastructure, can provide transaction transfer and payment settlement services based on both blockchain and centralized systems, and can load smart contracts on demand to achieve smart payments. The Digital Trade Platform provides comprehensive cross-border trade and e-commerce services to domestic and foreign import and export companies. All parties work together to help companies shorten cross-border trade payment links, reduce exchange costs, and improve capital turnover efficiency.

The press conference relied on real business links to connect nodes in Singapore and Hong Kong, China, to fully demonstrate the entire process of cross-border payment from order submission to fund arrival. The entire process was T+0, achieving low cost and traceability.

A number of cooperative banks, Ciyuan overseas enterprises and cross-border trade ecological enterprises have completed cooperation contracts with the platform, forming a "platform + bank + enterprise" commercial closed loop, marking the platform's official entry into the stage of large-scale commercialization from technology research and development.

This commercial launch is an important milestone in Xiamen’s digital financial innovation. The platform set up a booth in the financial area of ​​the 26th CIFIT to focus on displaying digital RMB special applications such as comprehensive cross-border trade services.