At the 6th China International Import Expo,Bank of Communications and Hangzhou-based cross-border e-commerce payment company PingPong officially released the"Silk Road E-commerce"cross-border e-commerce integrated financial service platform.

The service platform makes financial services more accurate by aligning financial products with the needs of the"Silk Road E-commerce"clientele;it makes it more convenient for enterprises to obtain credit by empowering bank credit and risk management through data imaging.Moreover,by actively supporting the construction of the"Silk Road E-commerce"cooperation pilot zone,financial services will be more closely integrated with the construction of the"Belt and Road".

The relevant person in charge of PingPong Financial Institutions Cooperation Center pointed out that Bank of Communications,as the only Chinese financial institution headquartered in Shanghai,embodies the role of a large state-owned bank,gives full play to the mechanism of"cross-border financial services in one thing",and actively serves the market entities of"Silk Road E-commerce"through the mechanism innovations such as"early and pilot implementation"and system authorization with an integrated mode and one-item mindset. "This also facilitates PingPong and Bank of Communications to have multiple rounds of communication and quickly reach an in-depth cooperation in the field of cross-border trade services,providing low-cost,efficient,safe and compliant comprehensive financial solutions for offshore enterprises.In the future,both sides will give full play to their own advantages and work hard for the high-quality development of"Silk Road E-commerce"and cross-border e-commerce under the consistent goal of serving enterprises'globalization.

It is known that through the one-stop technology service platform,PingPong,together with CBN,has built a number of local clearing networks along the Belt and Road,technology capabilities,compliance capabilities and global ecological resources to build a comprehensive financial service platform for cross-border e-commerce"Silk Road e-commerce"It can help global enterprises shorten their payment time from 2-3 days in the past to 2-3 minutes,reduce their payment costs by about 90%,and help them rapidly expand their business from a single region and a single platform to more than 100 online trading platforms around the world,thereby accelerating their globalization.

Up to now,the first phase of the cooperation between the two sides will be officially launched soon,and cross-border e-commerce enterprises can realize cross-border collection on the first global platforms through the Bank's"Silk Road e-commerce"/cross-border e-commerce integrated financial service platform.

Cross-border collection provides global multi-scene and multi-currency collection services,supports Amazon,Wish,Shopee,Shopify,Walmart and other 100+platform e-commerce and independent site scene collection,supports the use of RMB,US dollar,euro,Japanese yen,Canadian dollar,Hong Kong dollar and other more than 30 currencies for transaction settlement;PingPong flowmore trade for small and medium-sized foreign trade enterprises to provide one-stop payment solutions,0 opening fees,0 maintenance fees,0 account fees,real-time exchange rate of Bank of China and greater profits.

In the future,both sides will continue to explore more business scenarios and new modes of serving cross-border e-commerce and foreign trade enterprises,and jointly promote the new development of"Silk Road E-commerce".