中国基金报·2025-09-29 08:09Core Viewpoint - The introduction of the "Railway Freight Certificate" by Zheshang Bank in collaboration with China National Railway Group effectively alleviates the financial pressure on commodity enterprises related to railway transportation costs [1][3]. Group 1: Industry Challenges - Railway freight is a major component of bulk commodity transportation, with total railway freight volume in China expected to exceed 5.1 billion tons in 2024, of which coal accounts for over 55%, translating to an annual volume of approximately 2.8 billion tons [3]. - Transportation costs for coal can constitute 15% to 30% of total procurement costs, influenced by factors such as transport distance and energy price fluctuations [3]. - Commodity enterprises face significant pressure in freight payment due to rising costs from increased demand and adjustments in freight pricing mechanisms, coupled with a common industry practice of "upstream cash, downstream credit sales" [3]. Group 2: Innovative Solutions - The "Railway Freight Certificate" integrates domestic letters of credit with railway logistics, providing a fully online operational process that alleviates the financial burden of freight payments for commodity enterprises [2][4]. - The process allows companies to use bank credit to pay for freight, with repayment terms of up to one year, streamlining operations and reducing the need for physical documentation [4]. Group 3: Implementation and Impact - The first transaction of the "Railway Freight Certificate" was successfully executed for Huainan Mining (Group) Co., Ltd., with a credit amount of 100 million yuan, significantly easing their freight payment pressures [6]. - Following the initial success, Zheshang Bank has expanded the "Railway Freight Certificate" service to other regions, including Chengdu, Beijing, and Xi'an, demonstrating a replicable model for financial support in logistics [6]. - The initiative has created a win-win situation for the railway sector, banks, and enterprises, ensuring timely freight payments, reducing financial costs for companies, and expanding financial service opportunities for banks [8]. Group 4: Future Prospects - Zheshang Bank plans to deepen cooperation with China National Railway Group to promote the "Railway Freight Certificate" across major railway freight lines nationwide, enhancing the resilience and security of the supply chain [8].