SHANGHAI :
CITIC Bank Unveils China's First Block Chain LOC Information Transmission System
Chen Juan
DATE:  Jul 31 2017
/ SOURCE:  Yicai
CITIC Bank Unveils China's First Block Chain LOC Information Transmission System CITIC Bank Unveils China's First Block Chain LOC Information Transmission System

(Yicai Global) July 31 -- China CITIC Bank Corp. [SHA:601998] has rolled out the country's first block chain-based letters of credit (LOC) information transmission system – the first time that a Chinese bank has applied block chain technology to LOC settlement.

China Minsheng Banking Corp. [SHA:600016] has also introduced the system.

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Keywords:   MSCI,LOC,Bank