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      Bank of Communications Unveils Cross-Border Trade Service Plan at China Fair

      The 26th China International Investment and Trade Fair has commenced in Xiamen, China, where the Bank of Communications has introduced a new cross-border trade service plan. This initiative is guided by the People's Bank of China and is built on the 'Digital Currency Bridge' (CBETS) blockchain infrastructure. The plan aims to address the settlement and compliance needs of cross-border trade, enhancing the efficiency of capital, information, and document flows.

      The service plan utilizes on-chain rights confirmation and smart contracts to facilitate multi-party participation and data sharing. It offers essential services such as cross-border payments and trade background verification for import and export businesses, financial institutions, and regulatory bodies. The initiative seeks to lower compliance costs, reduce settlement times, and create opportunities for the integration of the digital renminbi into cross-border financial systems.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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