Currently, importers in China are required to provide supporting documents to their banks prior to making payments to overseas suppliers. With the new solution, J.P. Morgan’s clients in China will only be required to send the payment instructions with linked customs declaration number.
Using Application Programming Interface (API) technology, J.P. Morgan’s solution will then retrieve the relevant customs declaration status in detail from the local authorities via the Shanghai International Trade Single Window in real time and process the payments automatically. Clients will be able to keep track of their payments through J.P. Morgan Access at all times.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the The Paypers website, they in no way represent the opinion of The Paypers.