Shanghai Pilot Free Trade Zone “TradeNexus” has turned to SITA and CHAMP Cargosystems to help digitalize the tracking of shipment and capital flows of enterprises registered in Shanghai Free Trade Zone.
Using CHAMP Cargosystems’ Traxon Premium Tracking solution, Shanghai FTZ will be able to register interest in a shipment and receive automatic status updates throughout its lifecycle.
Replacing its dated process of requesting physical air waybills, Premium Tracking enables high visibility with a single data-sharing point for all parties involved in an air waybill shipment, reducing the overhead of bilateral tracking.
Shanghai Pilot Free Trade Zone is part of the Shanghai Pudong District Government that focuses on free trade development and construction in Shanghai.
It has been mandated by the Shanghai municipal government to set up a cargo tracking service platform to track shipping information of offshore trade transactions.
The new system will revolutionize this process by automatically filing and verifying air waybills and transactions to the relevant municipal and central government authorities.
This will create vast efficiencies within the free trade zone in Shanghai.
By automating these processes, Shanghai FTZ ensures good governance and compliance with regulations – as well as ensures smooth transporting can continue around the world.
“In the past few years, we have seen the true benefits of digitalizing transactional processes such as tracking shipments and associate capital flows deliver more efficiency, speed, and security in the exchange of data,” says Sumesh Patel, SITA President for Asia Pacific.
“With Shanghai Waigaoqiao we are pleased to bring these benefits to China and the wider trade sector.
“We are thrilled to support Shanghai Waigaoqiao in its effort in automating its shipment checking process,” says Nicholas Xenocostas, Chief Commercial Officer at CHAMP Cargosystems.
“This will help save time accessing shipment records and capital flow transactions.
“CHAMP specialists were able to adjust its standard solution to meet the complex needs of managing and supervising the capital flows of the free trade activities in Shanghai.
“We hope the efficiencies gained will help further bolster growth for its industries.”