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China Railway Group Launches 'Railway Freight Bill' with Banks, Pilots in 10 Regions
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On September 21, China State Railway Group (国铁集团) announced the launch of a new logistics financial product called 'Rail Freight Ticket' (铁路运费票), in cooperation with commercial banks. This follows the earlier rollout of services such as freight loans, freight certificates, letter of credit settlement, and railway document pledge financing. The product's function has simultaneously gone live on the logistics finance section of the China Railway Logistics 95306 platform. The pilot program will initially be implemented in 10 provinces and municipalities: Beijing, Tianjin, Hebei, Shanxi, Inner Mongolia, Guangdong, Hunan, Hainan, Yunnan, and Xinjiang. The initiative aims to help railway logistics customers expand financing channels and reduce financing costs, according to the official announcement.
Source report
September 21 — Following the full rollout of logistics financial services including freight loans, freight certificates, letter of credit settlement, and railway document pledge financing, China State Railway Group has once again partnered with commercial banks to launch the "Railway Freight Ticket" logistics financial product.
On September 21, the "Railway Freight Ticket" function was simultaneously launched on the logistics finance section of the China Railway Logistics 95306 platform.
The pilot program will initially be implemented in 10 provinces and municipalities, including:
- Beijing
- Tianjin
- Hebei
- Shanxi
- Inner Mongolia
- Guangdong
- Hunan
- Hainan
- Yunnan
- Xinjiang
This new product is expected to help railway logistics customers expand financing channels and reduce financing costs.
Source
domesticEastern
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China State Railway Group launches 'Railway Freight Bill' with banks to ease freight financing