Aerial photo shows a China-Europe freight train bound for Helsinki, Finland departing from Putian Station of Zhengzhou, central China's Henan Province, Nov. 20, 2020. (Xinhua/Hao Yuan)

by Xinhua writers Ma Yujie, Yang Di and Li Like

CHENGDU, April 11 (Xinhua) -- Blockchain is being used to boost trade through the China-Europe train routes, which have contributed significantly to lowering logistics costs and served as a lifeline stabilizing global trade amid the pandemic.

On April 1 at the Chengdu International Railway Port, a major port in southwest China's Sichuan Province for China-Europe cargo trains, a new version of the blockchain-powered platform Sino-Europe Trade Link 2.0 was put into operation by the Industrial and Commercial Bank of China (ICBC).

The updated platform, which allows enterprises to raise funds directly from the bank, will lower costs and speed up the cash flows of relevant foreign trade companies.

Riding the Belt and Road Initiative proposed by China in 2013, the China-Europe freight train service has connected over 60 domestic cities with major European countries.