At the 20th CCISF, Chongqing Western Logistics Park joined hands with JCTRANS.com and decided to establish a Western Service Platform.In recent days, the platform of dollar.56yhc.com, which belongs to JCTRANS.com, has got approval from Chongqing Administration of Foreign Exchange and finished the system and procedure joint of banks.The platform is officially established in the Park and begins its on-line operation.Chongqing becomes the first inland city with the platform.
Traditionally, dollar serves as the settlement currency for international ocean freight. However, the handling procedure is complex and features low efficiency and high cost. In order to improve the status, JCTRANS.com cooperates with Bank of China to establish the platform of dollar.56yhc.com. On the platform,the invoice can be approved and payment can be achieved. The efficiency has been greatly improved and cost reduced. At present, the platform has been established in Dalian and Qingdao.
The platform has been initiated by JCTRANS.com and Chongqing Branch, Bank of China and promoted by Chongqing Western Logistics Park, Financial Office of Shapingba District and Financial Office of FTZ. With the operation of the platform, it is estimated that about 50% of dollar-payment ocean freight business of logistics enterprises in China will be settled on-line, which will improve the operation efficiency of logistic chain.