Core Insights - The International Chamber of Commerce's Digital Standards Initiative Executive Director, Pamela Mar, expresses optimism about the future of digital trade in Hainan Free Trade Port [2] - The transition from paper-based trade processes to digital solutions is seen as essential for reducing costs and improving efficiency [2][3] - The establishment of international digital standards for key trade documents is crucial for enhancing customs efficiency and policy benefits [3] Group 1: Digital Trade Development - The shift towards digital trade is driven by the need to eliminate traditional paper documents and manual verifications, which are becoming obsolete [2] - Digital tools such as electronic bills of lading, electronic warehouse receipts, and electronic signatures are pivotal in overcoming bottlenecks in trade processes [2] - Hainan Free Trade Port is encouraged to align closely with international high-standard trade rules to accelerate digital trade development [2] Group 2: Implementation of Digital Standards - The focus is now on the practical application of established international digital standards rather than on the discussion of technical standards [3] - The digitalization of certificates of origin is highlighted as a key area that can significantly enhance customs efficiency and expedite the realization of policy benefits [3] - All certificates of origin issued or traded in Hainan should undergo full-process digitalization to improve traceability and security [3] Group 3: Regulatory and Operational Benefits - Digitalization is not only about speed but also about accuracy and security, providing stronger risk assessment capabilities for customs and maritime authorities [3] - The move towards electronic documents allows for better regulatory transparency and supports a new trade supervision model that balances openness and control [3]