Core Insights - The introduction of the "New Offshore International Trade Business Background Verification" application by the State Administration of Foreign Exchange aims to address the challenges of verifying the authenticity of offshore trade and promote healthy development in this sector [1][2] - Jiangsu Bank's Shanghai branch successfully completed the first offshore trade background verification on June 18, marking a significant breakthrough in serving the new offshore trade sector [1] Group 1: Application and Functionality - The new application integrates various authoritative third-party data resources, including customs declarations, international shipping bills, and port loading records, to provide a comprehensive digital verification service [1] - Key features include online document verification, transaction redundancy alerts, and electronic document endorsement, creating a digital risk control system that covers the entire business process [1] Group 2: Advantages and Future Plans - The successful implementation of the first transaction highlights Jiangsu Bank's three main advantages in cross-border finance: technological empowerment, a specialized team for precise control, and a customer-centric service approach [2] - The bank plans to continue leveraging the evolving capabilities of the cross-border financial service platform, exploring innovative application scenarios to enhance financial services for the real economy while ensuring compliance and risk control [2]

Core Viewpoint - The article emphasizes the importance of developing new offshore trade models in a cautious and tailored manner, avoiding blind imitation and ensuring that local conditions are respected [1][4]. Group 1: New Offshore Trade Model - New offshore trade involves purchasing goods from abroad and reselling them to other foreign locations, with settlements conducted through domestic enterprises [2]. - This model represents a shift from traditional offshore trade, allowing Chinese companies to transition from being suppliers to establishing local offshore companies and leading the trade process, enhancing their global competitiveness [2][3]. - A key feature of new offshore trade is the separation of document flow, capital flow, and logistics flow, which enables flexible global resource allocation and strengthens supply chain resilience [2]. Group 2: Industry Transformation - Traditional industries, such as a textile company in Suzhou, have adopted a three-stage offshore trade structure, resulting in an 18% reduction in logistics costs and a one-third decrease in delivery times [3]. - Emerging industries, particularly in renewable energy, are leveraging offshore trade to provide technology licensing and supply chain management services, embedding "Made in China" into global production networks [3]. - This approach allows high-end processes like R&D and settlement to remain in China while manufacturing is positioned overseas, facilitating a transition from a "world factory" to an "innovation hub" [3]. Group 3: Support and Development - The expansion of new offshore trade necessitates enhanced capabilities in digital economy, finance, logistics, and legal services, highlighting the need for collaborative development across these sectors [3]. - Financial support for offshore trade requires coordination in cross-border financial regulation, emphasizing the importance of data exchange and enterprise oversight [3]. - Risk management in this new trade model relies on advancements in digital technologies and blockchain, which are essential for improving risk identification and early warning capabilities [3]. Group 4: Local Adaptation and Global Integration - The development of new offshore trade should be tailored to local conditions, recognizing the diverse resource endowments and trade foundations across different regions [4]. - A differentiated approach that respects local characteristics can enhance foreign trade flexibility and attractiveness, ultimately improving quality and efficiency [4]. - As technology and services evolve, new offshore trade is positioned to become a significant driver of China's role in the global economic landscape, especially in an uncertain international trade environment [4].