China Citic Bank and Aliydatong Launched a new cross-border e-commerce product

In order to do a good job in the "six stability" work and fully implement the "six guarantee" task, China Citic Bank and Aliydatong Company recently launched an innovative export collection system for general trade of domestic cross-border e-commerce, to boost the stability of foreign trade with product innovation.

Specified in the system, through the ali's export seller in the international standing trading platform can be automated customs clearance, ali a da tong trade authenticity audit, citic bank for small and medium-sized foreign trade enterprise centralized settlement of exchange, and reduction of centralized declaration declare, solved the export electrical business customers "in the difficult, slow aging rate, big risk, high" pain points.

According to China Citic Bank, the foreign exchange collection system has four characteristics: compliance, efficient liquidation, safe capital and low cost. In terms of compliance, China Citic Bank, as a bridge between Ali International Station and downstream enterprises, conducts anti-money laundering compliance and trade background verification for both domestic and foreign transaction parties through direct connection with the platform's foreign exchange collection system to ensure business compliance. In terms of efficiency, the e-commerce platform will remit the withdrawal amount of cross-border e-commerce enterprises to China Citic Bank in advance on the same day, and China Citic Bank will conduct domestic clearing, so that the settlement of foreign exchange can be completed on T+0 day, and the average time to receive accounts can be reduced by 3-5 working days. In terms of security, China Citic Bank can obtain first-hand customer information and transaction information by docking with the e-commerce platform system to ensure the authenticity of business and facilitate customers to receive payment smoothly. In terms of the rate, the payment collection cost and intermediate link can be reduced by means of capital package entry, which can greatly reduce the cross-border foreign exchange collection and settlement fees of cross-border e-commerce enterprises.

Since the beginning of this year, the state council has set up 46 new comprehensive pilot zones for cross-border e-commerce, which have become new highlights of foreign trade innovation, new drivers of transformation and upgrading, new platforms for innovation and entrepreneurship, and new carriers for "One Belt And One Road" construction. The State Administration of Foreign Exchange issued the Notice of State Administration of Foreign Exchange on Supporting the Development of New Forms of Trade in May this year, which redefines the business extension of foreign trade comprehensive service enterprises.

In order to actively respond to national policies, China Citic Bank continues to increase its support for small and medium-sized foreign trade enterprises by means of fintech. As the top foreign trade comprehensive service platform enterprise in China, Alitone is the world's leading digital intelligent cross-border supply chain service platform. The China citic bank jointly launched with ali a da tong company specified in the system innovation, the State Administration of Foreign Exchange, the shenzhen foreign exchange bureau received strong support, the export of the settlement of exchange for electric business platform customers business "convenient, efficient, safe, low-cost" one-stop quality service, to transform and upgrade the healthy and standardizing development of foreign trade business, promote the foreign trade has played a positive role.