China's first paper NCD pledge launches in Liangjiang

China's first paper-based negotiable certificate of deposit (NCD) pledge financing transaction under the New International Land-Sea Trade Corridor has been executed at Guoyuan Port in Liangjiang New Area.

The shipment originated in Vientiane, Laos, and entered China through Mohan Port in Yunnan province, then traveled via a cold-chain railway to Liangjiang. This innovative initiative offers tailored financial support to Chongqing enterprises importing goods from Laos, addressing the challenges associated with financing cross-border railway trade under transferable documents.

The Chongqing Branch of Bank of China utilized the pledgeable and transferable property rights of paper NCDs to facilitate trade financing for import payments, meeting the requirements for fast turnover, stable payments, and secure sourcing in trade.

This initiative also provides valuable experience for the practical application of the NCD Convention in cross-border trade involving transferable documents.