Beijing and Singapore Pioneer Digital Trade Interoperability in Construction Projects
In a landmark collaboration, the Beijing Free Trade Zone and the Singapore Infocomm Media Development Authority (IMDA) have successfully completed China’s first end-to-end digital trade interoperability pilot for foreign contracting projects. Launched on February 11, 2025, the pilot aims to enhance the efficiency and transparency of international engineering trade through blockchain technology.
Pioneering Digital Trade Transformation
The pilot project, implemented by China Road and Bridge Corporation (CRBC), involved the shipment of construction materials from Tianjin Port, China, to Dar es Salaam Port, Tanzania. Supported by technology from Global Trade Link Co., Ltd., the project leveraged blockchain to issue, circulate, and verify electronic bills of lading through the integration of the "Xinmao Chain" and Singapore's TradeTrust platform. This approach enhanced data security and credibility while achieving seamless automated data transfer across existing business systems, significantly boosting trade efficiency.
Key Innovations in Digital Trade:
Full-process digitalization of China's foreign contracting export material supervision model (Customs Code 3422) using blockchain, achieving online circulation and real-time tracking of electronic documents.
Cross-chain interoperability via the “Xinmao Chain” integrated with the TradeTrust standard, facilitated by the “Global Trade OS” on the Spark Chain's non-currency public blockchain.
A cross-border digital trade mechanism featuring blockchain-based document preservation and dual-code verification, covering 28 types of trade documents.
Secure data sharing between digital trade systems of different countries and regions, enabled through China-Singapore interconnectivity.
Efficiency Gains and Cost Reduction
The pilot project addressed critical challenges in international engineering trade, including opaque supply chain information, low efficiency, high costs, and complex processes. By adopting distributed interoperability technology, the initiative enhanced cross-department collaboration efficiency by 60% and reduced customs documentation costs by 50%, saving $150–$200 per container. Automated data circulation cut document processing time by 80%, improved logistics clearance efficiency by 30%, and lowered comprehensive costs by 15%, potentially saving enterprises over 100 million RMB annually in the international engineering sector.
Beijing's Broader Open Economy Initiatives
The successful pilot is part of Beijing's ongoing efforts to promote institutional openness in trade and investment. Since the launch of the Beijing Free Trade Zone and the Comprehensive Demonstration Zone for Further Opening Up the Service Sector, over 140 breakthrough policies have been implemented, with more than 70 nationally pioneering measures.
Notable initiatives include the establishment of the first scenario-based, field-level data outbound negative list for pilot free trade zones and the launch of the first ESG data evaluation and standardization pilot in the financial sector. Additionally, Beijing has spearheaded innovations in the biopharmaceutical sector, including fast-tracking clinical urgent drug imports and enabling real-time customs clearance of essential medications.
A Model for Global Trade Digitalization
As Beijing continues to enhance trade and investment facilitation, the successful digital trade pilot with Singapore sets a compelling precedent for the future of cross-border trade. By integrating blockchain solutions into complex international logistics and trade processes, Beijing and Singapore are laying the groundwork for a more interconnected and efficient global economy.
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