In a major step toward modernizing global commerce, China has integrated the Legal Entity Identifier system into its blockchain-based shipping and trade network.

This move aims to streamline identity verification for businesses involved in cross-border trade, enhancing trust and efficiency across international supply chains.

By combining the globally recognized LEI with China's cutting-edge blockchain technology, the initiative tackles a longstanding challenge in global shipping: how to verify the credibility of trading partners with greater security and transparency.

Leveraging China's independently developed blockchain technology, the integration allows domestic and international businesses to verify each other's identities more efficiently, addressing the critical challenge of identifying and assessing credibility in cross-border trade. This forms a shared and tamper-proof list of verified trading entities that supports a wide range of digital scenarios across finance, ports, and logistics.

Administered by the Global Legal Entity Identifier Foundation, LEI codes are widely used to promote transparency and reduce systemic risk in financial markets.

This integration is a joint achievement of the Seaborne Trade Digitalization Collaboration Innovation Alliance and the China Financial Certification Authority, China's first licensed LEI validation and issuing agency.

Source: Jiefang Daily