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Two China Post practices selected as CIFTIS Service Demonstration Cases
Two China Post practices selected as CIFTIS Service Demonstration Cases
|China Post News|2022-09-10

The 2022 China International Fair for Trade in Services (hereinafter referred to as CIFTIS) released the service demonstration cases recently. China Post Land Greening Programs was ranked among Chinese Service Practice Cases, and the case Building Settlement Expressway and Establishing Payment Ecosystem entered by the Postal Savings Bank of China (PSBC) among Global Service Practice Cases. As one of the important brand activities of CIFTIS, the selection of service demonstration cases aims to show the development trend and cutting-edge achievements in global trade in services, highlight the exemplary and leading role of new services, new models and new business forms, expand the publicity and promotion for excellent service enterprises and projects, and facilitate the innovation-driven development of trade in services and international exchanges and cooperation in such trade.

The case China Post Land Greening Programs fully demonstrates that China Post adheres to the philosophy of green development, focuses on its Green Post Initiative to continue promoting land afforestation and make contributions to the construction of a beautiful China. It highlights China Post’s efforts in carrying out voluntary tree planting activities, building green post and spreading green development ideas. As is reported, from March 2019 to May 2022, China Post has planted more than 1.22 million trees by online and offline means, and donated a total of over 3.66 million yuan (about 530,000 US dollars) to related programs through various channels.

The case Building Settlement Expressway and Establishing Payment Ecosystem reflects that PSBC has actively carried out exploration of promoting renminbi cross-border settlement to better serve the real economy and facilitate trade and investment, improving the efficiency of renminbi cross-border clearing and boosting renminbi cross-border business innovation. Joining the RMB Cross-Border Interbank Payment System (CIPS), PSBC can realize the standardized and integrated transaction of cross-border payment, support cross-border fund collection and payment, accounts checking, business query and other business scenarios, help users complete transactions without leaving home, and remove the last-mile obstacles in the process of renminbi cross-border settlement. PSBC has also actively fostered an ecosystem of CIPS-based cross-border payment products including RMB direct loan and offshore settlement financing, and developed a cross-border service system with the whole process of logistics, payment, customs clearance, remittance and financing, so as to achieve deep integration of RMB cross-border business and traditional clearing business.

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