Success for Shanghai's 'single window' blockchain application

At a press conference held on the third day of the second China International Import Expo, Shanghai promoted several achievements of the "blockchain plus" application at the city's "single window" service platform for international trade.

Also at the event, government authorities and a batch of enterprises signed a proposal marking the formal establishment of the Shanghai Electronic Port Blockchain Alliance.

On October 24, when Chinese President Xi Jinping hosted the 18th Collective Learning Session of the Politburo, he stressed that blockchain should be regarded as an important breakthrough in independent innovation of core technologies.

To date, the city's "single window" services platform integrates 10 major functions, with 22 departments covering all regulations and major procedures in international trade, according to Shen Weihua, deputy director of the city's Commission of Commerce (Office for Port Services).

The platform makes full use of blockchain technology, applying it in various areas, including digital financial insurance, digital supply chain, Internet of Things and intelligent manufacturing, all while providing free international trade-related public services for enterprises.

Experts from the World Bank spoke highly of Shanghai's single window platform, saying that it ranks among the best in the world in terms of diversity of functions and amount of business processing. They added that such platforms can be promoted to other countries.

Shanghai Customs and the Administrative Committee of the Hongqiao Central Business District have made joint efforts to push forward technology innovation, building an intelligent supervision and service system offering "6 + 365 days" bonded exhibition and trading services based on the blockchain technology.

The system helps reduce duplication in submitting data, promotes efficiency for enterprises, and improves customs regulation.

Blockchain technology has also been utilized in cross-border yuan trading and financing services, the city's international pharmaceutical supply chain information services, and services for small and medium-sized enterprises.