Guangdong Successfully Implements Cross-Border Financial Service Platform's "Background Verification for New-Type Offshore International Trade" Application Scenario
Guangdong successfully launched the pilot program on October 15, 2025. On the first day, China Construction Bank and Bank of China facilitated offshore trade transactions for five enterprises, with total foreign exchange receipts and payments reaching $1.6 million. By leveraging blockchain technology to integrate multi-source data, the platform has reduced the offline verification process from 2-3 days to under 30 minutes. This effectively addresses challenges in verifying trade authenticity, enhances the efficiency and security of cross-border financial services, and supports enterprises in their global operations.
State Administration of Foreign Exchange