Primera cohorte piloto del Banco Agrícola de Shanghai en el escenario de "Facilitación del pago en divisas por transporte nacional"

Yan Yuan

The cross-border financial services platform is a financial infrastructure developed by the State Administration of Foreign Exchange. In recent years, around the goal of building a more convenient, more open, safer, and smarter foreign exchange management system and mechanisms, the platform’s application scenarios have continued to expand, its functions have continued to deepen, and various application pilots have been launched one after another. This has provided banks with an efficient and authoritative channel for conducting business, strongly supporting market entities such as enterprises in obtaining convenient financial services. Under the guidance of the Shanghai Branch of the State Administration of Foreign Exchange, Agricultural Bank of China’s Shanghai Branch has actively participated in the Shanghai pilot of various application scenarios on the platform, striving to ensure that customers enjoy the convenience brought by the platform’s new scenarios at the first opportunity. On April 1, the platform launched the pilot application scenario “Convenient Foreign Exchange Payment for Domestic Freight” in the Shanghai area. All first-tier branches under the Agricultural Bank of China’s Shanghai Branch participated in the first batch of pilots and successfully implemented multiple applications. The bank handled multiple domestic freight foreign exchange payment business for a number of foreign trade, logistics, and freight forwarding enterprises, and the relevant enterprises have all felt improvements in service efficiency and greater ease in办理.

It is understood that this pilot’s “Convenient Foreign Exchange Payment for Domestic Freight” application scenario provides banks with value-added tax invoice authenticity and uniqueness online verification, as well as confirmation services to determine whether payments under the invoice exceed the approved amount. From the source, it eliminates the risk of duplicate invoice usage, providing authoritative and reliable support and tangible convenience for banks to carry out business related to domestic freight foreign exchange payments. It effectively reduces the banks’ review burden, improves their review efficiency, and enables enterprises with domestic freight foreign exchange payment needs to easily obtain bank high-efficiency and convenient services.

The person in charge of international business at Agricultural Bank of China’s Shanghai Branch stated that, under the guidance of the Shanghai Branch of the State Administration of Foreign Exchange, the bank will continue to do well with pilot practice and replication and promotion of the platform’s scenario applications, empower high-level convenient financial services through technology, and support the high-quality development of Shanghai’s foreign-related economy.

(Source: Shanghai Branch of Agricultural Bank of China)