Letters of credit may be a necessary evil that prolongs the trade process, but financial regulators in the two cities are pushing blockchain as a way to solve an old problem.
While the People’s Bank of China hopes cuts to its reserve rate ratio will inject liquidity into the SME market, the fundamentals still weigh heavily against it.
In China, where fintech is already ubiquitous, one company has set its sights on serving millions of SMEs neglected by the existing supply chain finance system.