TWENTY Chinese forwarders in China have founded an online trading system for ocean shipping opening the Shanghai-based "ChinaSupplying" now registered in Hong Kong.
China's first ocean shipping service online trading system starts upTWENTY Chinese forwarders in China have founded an online trading system for ocean shipping opening the Shanghai-based "ChinaSupplying" now registered in Hong Kong.
The system will be a platform gathering domestic shippers, forwarders and carriers for trading of ocean shipping services and will deploy online payment technologies to enhance efficiency.
The system will cooperate with customs and banks on the settlement of payments and be a safe solution to the payment and issue relevant documents such as bills of lading.
The 20 founders, being the shareholders, each have an annual sales volume between CNY200 million (CNY32.18 million) to CNY1 billion. The annual volume of the system is expected to be CNY5 billion.
The system also allows the participants to pay taxes together via one single agent and thus able to enjoy tax concessions. This will give the participants the advantage of reducing both financial and labour cost.
