Caixin Global – Latest China News & Headlines

Home >


CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

Mobile Browser Crackdown Ensnares Big Names
Chinese Biotech Startup Genecast Bags $149 Million in Series E Funding Round
Founder and CEO in ‘Divorce’ With Dating App Momo
Chinese Medical Rehabilitation Robot Maker Fourier Closes $15 Million Funding Round
Caixin Investigation Uncovers Shady Business In Myanmar
Tencent Bets Big on Chinese E-Sport Firm, Leading $100 Million Funding Round
Chinese Companies Line Up to Take Advantage of Huawei’s U.S. Troubles
Trending in China: Social Media Applauds Jack Ma’s Detailed Critique of China’s Financial Sector
Trending in China: Female Student Fights ‘Period-Shaming’ – Social Media Discusses the Pros and Cons
Chinese Auto Tech Startup Closes $194 Million Series A Funding Round Led by Baidu
iQiyi to Create Genre-Specific Content to Meet Different Audience Demands
Gaw Capital Inks JV With Manbang Group to Develop Smart Logistics Properties in China
Tesla Recalls Nearly 50,000 U.S.-Made Cars in China over Suspension Problems
Fintech Giant Lufax’s U.S. IPO Could Raise $2.36 Billion
WeChat Judge Won’t Pause Temporary Order Blocking Trump Ban
Mongolia Delivers First Batch of Donated Sheep to China
Signs of Stormy Weather Ahead for One of China’s Largest Semiconductor Makers
Trending in China: Finding Pleasure in the Pain of Everyday Life – China’s Youth Mock Their Own Reality
‘Double 11’ Shopping Fest Faces Covid-19 Supply Chain Pressures
Trending in China: Scalpers Take Advantage of Lack of New iPhone 12s in Stock in China
Alibaba’s Ant Group Launches Blockchain-Based Platform to Streamline Cross-Border Trade

By Ding Yi / Sep 28, 2020 12:22 PM / Business & Tech

Photo: IC

Photo: IC

Alibaba’s Ant Group, which operates China’s ubiquitous mobile payment service Alipay, has launched an international trade payment platform powered by its blockchain technology Antchain, in an attempt to simplify the process of cross-border trade especially for small- and medium-sized enterprises (SMEs).

The platform, named Trusple, adopts technologies including artificial intelligence (AI), the Internet of Things (IoT) and secure computation that are needed to generate a smart contract after buyers and sellers upload a trading order onto the platform, Ant Group said in a statement released on Friday.

When an order is executed, a “smart contract” is automatically updated with key information including order placements, logistics and tax refund options, and can be used by banks to process the payment settlement, Ant Group said, describing it as a means of improving efficiency of cross-border trade

China’s financial institutions are increasingly using blockchain encryption technology to enhance the efficiency and security of their business operations due to the fact that the emerging technology can help build trust and credibility among parties to a transaction as it creates permanent, unalterable and traceable records.

In October last year, Chinese President Xi Jinping showed his endorsement for the development of blockchain technology, which he said would play a key role in the country’s new round of technological innovation and industrial transformation.

Contact reporter Ding Yi (

Related: Exclusive: PBOC Issues Rules to Standardize Blockchain Applications in Finance

Share this article
Open WeChat and scan the QR code