CR Partners with China Construction Bank to Launch Railway Logistics Financial Services Pilot

　　The spokesperson of the freight department of CR introduced that they earnestly implemented the important instructions and instructions of President Xi Jinping on railway and financial work. They adhered to market demand orientation and have established a joint task force with China Construction Bank. Focusing on reducing social logistics costs and supporting the development of the real economy, they explored and promoted the integration development of the railway logistics network and financial services network. This initiative aims to provide convenient services for railway logistics customers to expand financing channels and reduce financing costs.

　　Railway logistics financial services were piloted in provinces and regions such as Sichuan, Chongqing, Yunnan, Guangxi, and Hubei. It includes three products: “Railway Freight Financing,” “Letter of Credit Settlement,” and “Railway Document Financing.” The logistics financial section of the railway freight 95306 platform was launched and operated on the same day and can handle the aforementioned businesses. The “Railway Freight Financing” process involves registered customers of the railway freight 95306 platform authorizing the platform to submit historical transportation data online to the bank. Customers can apply for increased credit limits and preferential interest rates to pay logistics fees to railway logistics companies. The larger the historical shipping volume and the more freight paid, the larger the credit limit that can be applied for. This product can increase customer financing channels and reduce financing costs. The “Letter of Credit Settlement” process involves trade parties agreeing to settle transactions using letters of credit for railway transportation. The purchasing party applies to the bank for a letter of credit based on railway waybills, and after the selling party ships the goods, the bank pays the selling party after verifying the electronic waybill pushed by the selling party through the 95306 platform. This product can reduce the capital occupation of the purchasing party, accelerate the return of funds for the selling party, and enhance mutual trust between trade parties. The “Railway Document Financing” process allows railway logistics customers to apply for financing from the bank based on electronic bills of lading issued by railway logistics companies with unique delivery rights. Customers can also pledge goods for financing. This product can help customers activate assets of goods in transit and expand financing channels.