Five operation units of electronic ports in Jiangsu, Zhejiang and Anhui provinces as well as Shanghai recently signed the "Cooperation Agreement on the Application of Digital Technology in the Electronic Ports of the Hongqiao International Open Hub for Silk Road E-commerce" in Shanghai, marking a major achievement for the pilot zone for Silk Road e-commerce cooperation and empowering the integrated development of the Yangtze River Delta (YRD) region through digitalization.
Under the agreement, Shanghai-based E&P International, Jiangsu Electronic Port Co Ltd, Zhejiang Electronic Port Co Ltd, Anhui Qiantong Information Technology Co Ltd and Asia-Pacific Model E-Port Network Operational Center will utilize technologies such as cloud computing, blockchain and big data to promote cross-border mutual customs clearance, bolster interoperability of electronic invoices and launch pilot projects for the traceability of cross-border goods in the YRD region.
Specifically, a compliant channel based on trade and logistics data provides "one-time declaration, bilateral clearance" for "Silk Road e-commerce" enterprises in the YRD region. After the export enterprises submit declaration data, the electronic port will generate data that meets the customs clearance requirements of both China and the trading partner countries.
Also, they will build a platform for the interoperability of cross-border electronic invoices. Electronic invoices are more secure, flexible and cost-effective than traditional paper invoices, and can improve the efficiency of cross-border transactions.
The cross-border commodity traceability system collects key information in the commodity supply chain and utilizes blockchain characteristics such as "decentralization" and "tamper resistance" to provide consumers, traders, and regulatory authorities with authentic and tamper-proof traceability records.
Since the State Council approved the establishment of the "Silk Road e-commerce" cooperation pilot zone in Shanghai in October last year, the zone has set a benchmark for high-standard digital trade rules, built a platform for interoperability of cross-border electronic invoices and conducted pilot projects on cross-border mutual customs clearance and commodity traceability.
In the future, all parties will cooperate on the application of digital technology in developing electronic ports, serve enterprises in the YRD region, improve the level of paperless trade, and jointly create a new hub for trade facilitation.
