Shanghai has revised local provisions to further support the use of blockchain-backed electronic documents in Pudong New Area.

For foreign-invested companies engaged in trade, logistics, warehousing, finance, and supply chain management, the revised rules may help reduce document circulation costs, improve settlement efficiency, clarify electronic document rules, facilitate trade financing, and support participation in digital trade standards.

Strengthen data privacy and trusted circulation

Shanghai will support data privacy protection, as well as the trusted circulation, sharing and use of data in blockchain-backed electronic document applications.

Support smart contract applications

Shanghai supports business entities in developing and applying smart contracts in accordance with laws and regulations. The revised rules also clarify that smart contracts may be used in scenarios such as electronic document transfer, cross-border payment, and transaction settlements.

Clarify the legal effect of electronic transport records

Shanghai clarifies that eligible electronic transport records have the same legal effect as traditional transport documents. The rules also define the legal effect of conversions between the two, providing an institutional foundation for the broader adoption of electronic transport documents.

Support electronic warehouse receipt registration, transfer, and pledge services

Shanghai supports the use of blockchain infrastructure for the registration, transfer and pledging of electronic warehouse receipts. The rules also require conversion status to be clearly marked when electronic warehouse receipts are converted, helping ensure transparency of rights and document status.

Promote electronic letters of credit

Shanghai supports the use of electronic letters of credit in issuance, acceptance, payment, financing, and refinancing. It also encourages their coordinated use with other electronic documents.

Encourage standards development and international participation

Shanghai encourages relevant entities to develop joint enterprise standards for blockchain-backed electronic document applications. It also supports efforts to elevate such standards to industry and national levels and to participate in international standardization activities.

Improve coordination among foreign-related regulatory departments

Shanghai has expanded the coordination framework to include Shanghai-based offices of national financial regulatory authorities, as well as customs, taxation, maritime affairs, and other departments. This may provide a stronger basis for cross-departmental coordination in the use of electronic documents in areas such as financial regulation, customs clearance, taxation, and maritime affairs.

The decision took effect on June 1, 2026.

Note: The English version is for reference only. In the event of any discrepancy, the official Chinese version shall prevail.

Source: Jiefang Daily