Four departments including the Central Bank jointly issued a document: Support Shanghai in using Blockchain technology to develop Supply Chain finance.

According to the Gate.io News bot, it was reported by Wu that four departments, namely the People’s Bank of China, the Financial Regulatory Administration, the State Administration of Foreign Exchange, and the Shanghai Municipal People’s Government, jointly released the “Action Plan for Further Enhancing the Facilitation of Cross-Border Financial Services in Shanghai International Financial Center.”

The plan clearly states that Shanghai will standardize the development of supply chain financial services, utilizing technologies such as blockchain and big data to put key aspects of information, such as orders, logistics, and warehousing, on the blockchain. At the same time, the plan proposes to leverage the role of leading enterprises in key industrial chains to carry out pilot projects for carbon footprint certification.