Digital warehouse receipts facilitate corporate financing

Source :General Office of Qianhai Authority

The Qianhai Mercantile Exchange (QME) recently launched the Qianhai warehouse receipt project with the help of the HKEX Group, so as to help enterprises obtain financing.

Utilizing technical means such as blockchain, Internet of Things, and artificial intelligence, the Qianhai warehouse receipt project provides core risk control technology for the registration, management, circulation, financing, and insurance of warehouse receipts, and transforms traditional spot commodity assets into standardized digital assets that meet financing requirements.

According to a senior staff member of the project, the project is an effort made by QME to explore methods for digital transformation of finance serving the real economy. The project can efficiently solve the problem of information asymmetry in spot commodity transactions and provides core risk control support for financial institutions to carry out warehouse receipt financing. As the commodity price continues to rise, the project effectively supports the financing needs of entity enterprises and helps enterprises ease cost pressures.

The project will also push forward the promulgation of multiple industry standards. Currently, more than 500 enterprises from the non-ferrous metals, energy, building materials and other industries have access to the Qianhai warehouse receipt system. In the future, the project will provide more compliant and efficient technological services for commodity trading companies and financial institutions, and continue to better serve the real economy.


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2021-08-20 15:54:32

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