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Jinan Area of Shandong Pilot Free Trade Zone Promotes Orderly Development of Barter Trade

Source：The seanews 03-22-2022 14:37:04

Jinan Area of Shandong Pilot Free Trade Zone innovates to build four systems to help the healthy development of the barter trade.

First, creating an online and offline integration trading system. Establish a new system with organic integration of online supply and demand matching, offline physical mall and warehousing and logistics. Online digitization of inventory, production capacity and marketing channels to match supply and demand; offline physical mall to provide storage and display carriers for barter goods and set up overseas warehouses to provide comprehensive services for cross-border barter warehousing and logistics.

Second, creating a circulation value assessment and settlement system. Combining merchant credit, product flow rate and performance rate to determine barter goods, the value of barter goods is reflected in the form of "barter credit" to solve the problem of the unequal value of barter goods. Blockchain technology is used to sign electronic agreements and record the whole process of barter transactions, and the transaction settlement is realized through the "barter credit".

Third, creating a standard system for the barter industry. Take the lead in formulating industry standards for barter trade such as value assessment, solution planning, supply and demand matching, transaction settlement, risk prevention, etc., develop professional standards for barterers, and focus on creating a new ecology for the development of the barter industry.

Fourth, creating a barter risk prevention mechanism. Relying on the merchant credit and other big data information to establish a risk prevention and control model, and form a risk prevention system combining government supervision and industry self-regulation. Based on merchant credit and comprehensive strength to give the corresponding credit quota to carry out online and offline transactions, clear rights and obligations of all parties to avoid transaction risks.