Press Release | Beijing and Singapore Launch First Africa-Singapore-China Digital Trade Documents Project

Beijing Two-Zone Office and IMDA Launch the First Africa-Singapore-China Bulk Commodity Import End-to-End Interoperable Digital Documents against Payment Cooperation Project

The first Africa-Singapore-China bulk commodity import end-to-end interoperable digital Documents against Payment (D/P) live trade cooperation project, jointly promoted by the Office of the Leading Group for the Work of the China (Beijing) Pilot Free Trade Zone and the Integrated National Demonstration Zone for Opening Up the Services Sector (referred to as the "Beijing Two-Zone Office"), and supported by Singapore’s Infocomm Media Development Authority (IMDA), was successfully completed on the 20th of January, 2026. Following the signing of the Memorandum of Understanding (MoU) on International Information Industry and Digital Trade Harbour Cooperation by the Beijing Two-Zone Office and IMDA in December 2023, this project marks another achievement in Beijing-Singapore digital economy collaboration guided by the Beijing Two-Zone Office and executed by the Beijing Borui Opening-Up Policy Research Institute.

This cooperation project was jointly implemented by CNMC New Bridge Logistics & Trading Pte. Ltd, a subsidiary of CNMC International Trading Co., Ltd located in Fengtai District, Beijing, and Jiangxi Copper Company Limited. The Singapore shipping company Pacific International Lines (PIL) was entrusted with shipping Anode Copper valued at USD 5 million in two shipments, from Durban Port, South Africa, to Ningbo Port, China. Through the integration of the Trusted Trade Collaboration Network (referred to as "AEOTradeChain") initiated by AEOTrade and TradeTrust developed by IMDA, an electronic Bill of Lading (eBL) was issued by PIL. Singapore’s DBS Bank and OCBC Bank acted as remitting banks, while Bank of China’s Jiangxi Branch served as the collecting bank, all of whom were key participants supporting the project.

This project achieved three significant innovations: First, it realised the first end-to-end, interoperable digital trade in the bulk commodity import segment. Tailored to the trading characteristics of high-value commodities like Anode Copper, it established an end-to-end digital complete procedure covering document circulation and payment settlement, utilising blockchain technology to achieve the secure transmission and real-time tracking of title documents. Second, it pioneered a cross-regional integration model of "China-Singapore Cooperation + South African Scenario", enabling secure data sharing across digital trade systems of different countries. Third, Singapore’s OCBC Bank participated as a remitting bank, collaborating with Bank of China’s Jiangxi Branch as the collecting bank, to execute cross-border settlement through an electronic document-based workflow, reinforcing the viability of interoperable digital trade finance.

Feedback from participating enterprises indicates that the digital D/P system has significantly enhanced trade efficiency. The time for title transfer has been shortened from 20 days under the traditional paper-based model to 5 days, while the BL processing time has been reduced from 5-10 days to 5 minutes. Cross-border digital collaboration has saved the mailing costs (saving 350-400 RMB per transaction) and reduced document error rates by 93% (from approximately 15% to less than 1%). Bank of China’s Jiangxi Branch was able to directly verify documents through the platform, significantly enhancing the security and efficiency of cross-border trade finance. For OCBC, the use of blockchain-enabled eBLs not only supports the Bank’s sustainability strategy, including reducing operational carbon footprint and helping clients decarbonise, but also reduces fraud risk, strengthens internal controls, and lowers verification costs. While DBS observed that the use of digital trade instruments that are interoperable and based on common standards are becoming increasingly common, and that trade digitalisation can help foster a more connected and efficient global trade ecosystem.

This cooperation project has received strong support from the Fengtai District Government. It serves as a benchmark project for Fengtai District to promote trade facilitation and digital transformation, and provides a practical example for China and Singapore to deepen digital economy cooperation under the framework of the Belt and Road Initiative.

Moving forward, the Beijing Two-Zone Office and IMDA will continue to expand more cross-country and cross-industry digital cooperation scenarios, fostering a collaborative ecosystem among cargo owners, financial institutions, and logistics service providers.

This press release was published by Beijing Two-Zone Office.