Workflow
全环节贸易数字化,让粮贸企业降低30%成本

Core Insights - The transition from paper to electronic bills of lading using blockchain technology significantly reduces raw material consumption by approximately 5,000 A4 sheets per transaction, enhances document processing efficiency by 80%, and lowers operational costs by 30% [1][2] Group 1: Digital Trade Initiatives - In 2023, a pilot project for electronic bill of lading cross-border circulation was initiated by COFCO Group in collaboration with the Ministry of Commerce and local authorities in Beijing, focusing on the export business to Singapore [1] - The pilot project involved three phases, with the first phase completed in October 2023, successfully integrating China's "Trust Trade Chain" with Singapore's IMDA "Trade-Trust" to ensure the authenticity, security, and efficiency of bill of lading circulation [1] Group 2: Operational Efficiency and Cost Reduction - The use of electronic bills of lading in export operations is projected to improve document processing efficiency by at least 80% and reduce operational costs by 30%, with delivery times for cross-border transactions decreasing from approximately one month to 12 days [2] - The integration of shipping giant Maersk in 2024 to construct a digital trade network allows for a fully paperless process across all trade stages, including contract signing, customs clearance, bill of lading circulation, and payment [2] Group 3: Growth of Digital Trade in China - China's digital trade is rapidly expanding, with the total export and import value of digitally deliverable services reaching 1.5 trillion yuan and cross-border e-commerce reaching 1.3 trillion yuan in the first half of the year, both setting historical highs [2]