Many banks in Shanghai have launched cross-border financial services platforms to facilitate the payment of domestic freight in foreign exchange.

On April 1st, under the guidance of the Shanghai Branch of the State Administration of Foreign Exchange, the Bank of China Shanghai Branch, relying on its cross-border financial services platform, took the lead in facilitating domestic freight foreign exchange payments for numerous companies within its jurisdiction. On the same day, the first batch of new business applications were successfully implemented by the Construction Bank of China Shanghai Branch. In just one day, the bank completed the verification and payment confirmation of 49 invoices for freight expenses for 22 domestic enterprises, with a total amount of 769,000 US dollars.