information exchange through establishment of national single windows. Also, it is
also possible for exporters and importers to take advantage of electronic infrastructures created and operated by private entrepreneurs such as platforms, distributed
ledgers, etc., for reliable business-to-business information exchange across borders.
The modern legal framework is also being finetuned to facilitate cross-border single
window interoperability for government-to-government exchange of information.
Overall, the electronic exchange of information across sectors can substitute the need
for physical shipping documents, support better risk evaluation, reduce information
asymmetry and create enough value to make the transition for small and medium
sized exporters and importers worthwhile.
The MLETR allows to include all information that are pertinent for cross-border
trade in a single electronic record which can then be shared with all businesses and
regulators on a need to know basis. The information contained therein would be
reliable, i.e., complete, up-to-date and authentic. It is submitted that the CLFS
initiative in Chongqing has the potential to create an information driven thirdparty electronic platform which would merge commercial documentation for both
logistics and finance to promote SCF along the Eurasian railway corridors. Using the
flexibility allowed to Chongqing PFTZ, China can test new laws that are necessary to
support modern businesses related to logistics and finance along the new trade route
to Europe. If the test is successful in the Chongqing, then China can eventually
decide to implement the MLETR into its national law. In case China finds the
MLETR to be a suitable solution for expanding its businesses along both land and
sea trading routes, then the BRI can assist in spreading an already harmonised set of
rules created by UNCITRAL among countries that are its trading partners.
References
Ahn J (2011) A theory of domestic and international trade finance. IMF working paper, WP/11/262
Basu Bal A, Rajput T (2017) Trade in digital era: prospects and challenges for an international
single window environment. Neth Yearb Int Law:306–325
Basu Bal A et al (2018) Different perspectives on supply chain finance – in search of a holistic
approach. In: Cullinane K, Gong S (eds) Funding international logistics and the supply chain:
strategies for finance and risk management. Elsevier, pp 35–54
Chaisse J, Matushita M (2018) China’s ‘Belt and Road’ initiative: mapping the world trade
normative and strategic implications. J World Trade 52(1):163–186
Corne PH (1995) Lateral movements: legal flexibility in China and foreign investment regulation in
China. Case West Reserve Univ J Int Law 27(2):247–299
DiCaprio A, Yao Y (2017) Drivers of trade finance gaps. ADBI Working Paper 678. Asian
Development Bank Institute, Tokyo. https://www.adb.org/publications/drivers-trade-financegaps. Accessed 16 Apr 2018
Dickinson A (2007) Third country mandatory rules in law applicable to contractual obligations: So
Long, Farewell, Auf Wiedersehen, Adieu? J Priv Int Law 3:53–88
Hsia T-t, Johnson CA (1987) Law-making in the People’s Republic of China: terms, hierarchy, and
interpretation. Library of Congress, Washington D.C., p 10
Murray C, Holloway D, Timson-Hunt D, Dixon G (2012) Schmitthoff: the law and practice of
international trade, 12th edn. Sweet & Maxwell
Maritime Rules for Rail Carriage: China’s Initiative to. . .
57
also possible for exporters and importers to take advantage of electronic infrastructures created and operated by private entrepreneurs such as platforms, distributed
ledgers, etc., for reliable business-to-business information exchange across borders.
The modern legal framework is also being finetuned to facilitate cross-border single
window interoperability for government-to-government exchange of information.
Overall, the electronic exchange of information across sectors can substitute the need
for physical shipping documents, support better risk evaluation, reduce information
asymmetry and create enough value to make the transition for small and medium
sized exporters and importers worthwhile.
The MLETR allows to include all information that are pertinent for cross-border
trade in a single electronic record which can then be shared with all businesses and
regulators on a need to know basis. The information contained therein would be
reliable, i.e., complete, up-to-date and authentic. It is submitted that the CLFS
initiative in Chongqing has the potential to create an information driven thirdparty electronic platform which would merge commercial documentation for both
logistics and finance to promote SCF along the Eurasian railway corridors. Using the
flexibility allowed to Chongqing PFTZ, China can test new laws that are necessary to
support modern businesses related to logistics and finance along the new trade route
to Europe. If the test is successful in the Chongqing, then China can eventually
decide to implement the MLETR into its national law. In case China finds the
MLETR to be a suitable solution for expanding its businesses along both land and
sea trading routes, then the BRI can assist in spreading an already harmonised set of
rules created by UNCITRAL among countries that are its trading partners.
References
Ahn J (2011) A theory of domestic and international trade finance. IMF working paper, WP/11/262
Basu Bal A, Rajput T (2017) Trade in digital era: prospects and challenges for an international
single window environment. Neth Yearb Int Law:306–325
Basu Bal A et al (2018) Different perspectives on supply chain finance – in search of a holistic
approach. In: Cullinane K, Gong S (eds) Funding international logistics and the supply chain:
strategies for finance and risk management. Elsevier, pp 35–54
Chaisse J, Matushita M (2018) China’s ‘Belt and Road’ initiative: mapping the world trade
normative and strategic implications. J World Trade 52(1):163–186
Corne PH (1995) Lateral movements: legal flexibility in China and foreign investment regulation in
China. Case West Reserve Univ J Int Law 27(2):247–299
DiCaprio A, Yao Y (2017) Drivers of trade finance gaps. ADBI Working Paper 678. Asian
Development Bank Institute, Tokyo. https://www.adb.org/publications/drivers-trade-financegaps. Accessed 16 Apr 2018
Dickinson A (2007) Third country mandatory rules in law applicable to contractual obligations: So
Long, Farewell, Auf Wiedersehen, Adieu? J Priv Int Law 3:53–88
Hsia T-t, Johnson CA (1987) Law-making in the People’s Republic of China: terms, hierarchy, and
interpretation. Library of Congress, Washington D.C., p 10
Murray C, Holloway D, Timson-Hunt D, Dixon G (2012) Schmitthoff: the law and practice of
international trade, 12th edn. Sweet & Maxwell
Maritime Rules for Rail Carriage: China’s Initiative to. . .
57