COSCO Shipping Group signs strategic cooperation agreements with Alibaba and Ant Group

On July 6th, China COSCO Shipping Group signed a tripartite strategic cooperation agreement with Alibaba and Ant Group to jointly promote blockchain cooperation and application in shipping logistics, and carry out deep cooperation based on the global shipping logistics network in the future.

According to the agreement, in the future, China Ocean Shipping will collaborate with Ant Group to jointly research and promote the deployment and implementation of blockchain technology in shipping and logistics in China. We will work together to promote strategic connections based on blockchain technology in shipping, ports, logistics, finance, and other fields, and achieve data interconnection through cross chain cooperation, creating a platform for cooperation between upstream and downstream systems in the industrial chain. In the business scenarios of international shipping, logistics, and trade, the two parties cooperate to continuously expand the application scenarios of blockchain, conduct research on the basic data format specifications based on blockchain applications, and promote the development of data standards in related fields. Both sides will also strengthen cooperation in smart shipping, smart ports, and supply chain finance, jointly promoting the digitization of shipping operation processes and documents.

Ant Group Chairman Jing Xiandong expressed his expectation to deeply integrate "logistics+technology" and solve the digital asset and multi-party collaboration problems in the logistics field through technologies such as blockchain, jointly promoting the digital upgrading of global logistics, and jointly building a globally leading integrated logistics supply chain with China Ocean Shipping Group, making global trade more transparent, smooth, and efficient.

Jing Xiandong also pointed out that the whole society is accelerating the digitalization process comprehensively, and blockchain technology can become a key infrastructure for reconstructing the multi-party collaborative trust system and realizing asset digitization. We can create a trustworthy value circulation platform through blockchain technology, build a decentralized multi-party collaboration trust system, and enable the full chain circulation of digital assets, truly realizing the explosive development of multi-party collaboration.

As the world's largest comprehensive shipping enterprise group, China COSCO Shipping Group is committed to building a leading global integrated logistics supply chain service platform while actively grasping the trend of digital development. By utilizing new technologies such as data technology, blockchain, and supercomputing, it deeply integrates with the shipping industry, promotes the application of digital technology in the shipping logistics field, continuously improves service safety and efficiency, promotes the digital transformation and upgrading of the shipping industry, and provides reliable digital services for customers.

Xu Lirong, Chairman of China Ocean Shipping Group, expressed his expectation to continuously deepen cooperation with all parties through technologies such as blockchain, Internet of Things, and 5G, and promote the seamless connection and smooth flow of goods, funds, and information in the upstream and downstream of the shipping industry chain. This will become an important area for the integration of technological progress and industrial direction, and promote the digital transformation and collaborative innovation of the logistics supply chain.