On August 31st, it was announced that COSCO Shipping and the Global Shipping Business Network (GSBN) signed a cooperation agreement online, officially becoming a new member of the GSBN alliance. The signing and implementation of this agreement marks that COSCO Shipping has become an important part of GSBN's expansion of non container business and the construction of a more complete global blockchain platform.

It is reported that COSCO Shipping Bulk Transportation will continue to promote the electronization of business documents, deepen the innovation of the digital economy model, and comprehensively drive the company's Digital transformation and upgrading, business collaboration upgrading, customer service upgrading, and technological innovation upgrading by virtue of the alliance's data resources, model innovation, and digital technology.

According to data, the Global Shipping Business Network (GSBN) is registered in Hong Kong, China and is an independent, non-profit technology alliance aimed at redefining global trade by building an operating system empowered by blockchain technology. The GSBN Alliance is jointly created by 8 globally renowned shipping and port companies, with founding members including COSCO Shipping, COSCO Shipping Port, Hebrot, Hutchison Port Group, Dongfang Overseas, Shanghai International Port Group, Shandong Port Qingdao Port, and PSA International Port Group.

On July 28, 2021, GSBN reached cooperation intentions with 8 Chinese port groups, including Guangzhou Port Group Co., Ltd., Fujian Port Group Co., Ltd., Zhejiang Port Investment and Operation Group Co., Ltd., Jiangsu Port Group Co., Ltd., Anhui Port and Channel Group Co., Ltd., Shandong Port Group Co., Ltd., Tianjin Port (Group) Co., Ltd., and Hainan Port and Channel Holding Co., Ltd.

It is worth mentioning that recently, Zhejiang China Small Commodity City Group Co., Ltd. (hereinafter referred to as the "Company") issued the "Announcement on Establishing Participating Subsidiaries through Foreign Investment" (hereinafter referred to as the "Announcement").

The announcement shows that the company plans to cooperate with international logistics company COSCO Shipping Logistics Co., Ltd. and Pros Investment (Shanghai) Co., Ltd., which focuses on supply chain and big data investment, to establish a joint venture.

The joint venture company will leverage the resource advantages of all parties to create a digital cross-border logistics third-party delivery platform, build a group cargo franchise network, aggregate high-quality service providers, provide full logistics performance services for small and medium-sized enterprises, and jointly expand market procurement and cross-border e-commerce new tracks.

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Original author: Song Yu

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