Core Viewpoint - The draft of the "Convention on International Transferable Goods Documents" initiated by China aims to address the inefficiencies in international trade caused by the lack of property rights attributes in railway transport documents, thereby facilitating smoother global trade operations [1][2][6]. Group 1: Importance of International Trade Documents - International trade documents are essential for various processes in cross-border trade, including payment, transportation, insurance, inspection, customs clearance, and settlement [1]. - The current system primarily relies on maritime bills of lading as property certificates, while railway, road, and air transport documents do not confer ownership rights, limiting their market circulation and financing capabilities [1][2]. Group 2: Challenges Faced by Inland Countries - Inland countries face significant challenges in cross-border trade efficiency due to the inability to utilize in-transit goods for financing, leading to increased trade costs and risks [2]. - Legal concerns regarding the transfer of ownership during transportation have been raised by multinational companies, highlighting the need for a clear legal framework [2]. Group 3: Proposed Solutions and Benefits - The draft convention proposes the creation of a new type of property certificate—transferable goods documents—that would function similarly to maritime bills of lading, enhancing the flexibility and resilience of international trade [2][3]. - The ability to transfer ownership of in-transit goods is a key value of the proposed documents, allowing for smoother transactions and legal protection across various transport modes [3]. Group 4: Digital Transformation and Security - The convention emphasizes the use of electronic documents to replace traditional paper-based systems, which can lead to delays and risks such as information loss or theft [4]. - The integration of blockchain technology is suggested to ensure the authenticity and immutability of documents, enhancing security and convenience in global trade [5]. Group 5: Economic Impact and Global Trade - The establishment of transferable goods documents is expected to support cash flow for businesses, particularly benefiting small and medium-sized enterprises by providing trade financing options [5]. - The convention is seen as a significant step towards creating a more efficient, transparent, and secure legal framework for global supply chains, with potential benefits for businesses, banks, and governments worldwide [6].