HONG KONG, Feb 27, 2024 – (ACN Newswire) – Based on customs statistics, China’s total value of goods trade imports and exports soared to RMB 41.76 trillion in 2023, marking a record high of 645,000 foreign trade enterprises. Despite the ongoing positive growth trend in China’s overall import and export activities, the escalating global ESG-related regulations have imposed more stringent export compliance requirements on foreign trade enterprises. Consequently, enterprises find themselves grappling with uncertainty and a lack of clarity on how to proceed. Moreover, the industry currently lacks standardized and targeted ESG compliance service channels to promptly tackle the challenges faced by enterprises.
As the main artery for international freight transportation, maritime shipping shoulders nearly 90% of China’s foreign trade transport volume. COSCO SHIPPING, a Fortune Global 500 company, holds the top spot globally in terms of comprehensive capacity and scale among state-owned shipping enterprises. With a fleet of over 1,300 vessels and more than 50 terminals, it spans routes covering 1,500 ports across 160 countries. Against this backdrop, aiming to assist foreign trade enterprises in tackling export ESG compliance challenges, Nanhua Logistics under COSCO Shipping partnered with Shanghai Bravowhale Information Technology Co., Ltd. (referred to as “Bravowhle Technology”) on February 22nd. This collaboration, formalized at the Customs Building on the Bund in Shanghai, signifies a commitment to jointly deliver swift and convenient standardized export ESG compliance services to foreign trade enterprises. This initiative aims to empower businesses to achieve export compliance with low costs, high efficiency, and heightened certainty.
Participants of the signing ceremony included: GU Weidong, Vice President of COSCO Shipping Specialized Carriers Co., Ltd., and Chairman of Nanhua Logistics; ZHANG Wei, Deputy General Manager of COSCO Shipping Logistics Supply Chain Co., Ltd., Shanghai Branch; LIU Yi, General Manager and Director, and MENG Daguan, Vice General Manager of Nanhua Logistics; ZHU Shaokang, CEO of Bravowhale Technology; CHEN Chao, Deputy General Manager of CITIC Consulting of State Development & Investment Corporation; and LI Jian, Director of Deloitte China’s Climate Change and Sustainable Development Business Group. Nanhua Logistics, a joint venture between COSCO Shipping Specialized Carriers Co., Ltd. and COSCO Shipping Logistics Supply Chain Co., Ltd., operates as an international logistics supply chain service company.
COSCO Shipping affirms its commitment to leveraging the leading role of state-owned enterprises in facilitating trade. With its extensive customer base, experience in serving export enterprises, and Bravowhale Technology’s expertise in technology systems and intelligent solutions, the company aims to penetrate the secondary freight forwarding market through intelligent terminals. By providing a streamlined pathway for ESG compliance processes, COSCO Shipping aims to offer standardized compliance services to Chinese foreign trade enterprises. This initiative will effectively address challenges such as high export costs and inefficiencies faced by businesses.
Bravowhale Technology has always been at the forefront of ESG compliance services. With the support of the “Going Global” navigation network, we have partnered with local governments and business service agencies to establish offline service centers in key foreign trade export and multinational supply chain hubs. This initiative has already assisted hundreds of supply chain enterprises in industries such as chemicals, textiles, and automobiles in achieving export ESG compliance. The collaboration with COSCO Shipping represents a significant step forward for Bravowhale Technology in expanding its online ESG compliance services. By leveraging technological advancements, it aims to simplify the complex ESG compliance process through standardized online products and automated solutions, providing the shipping industry with convenient and effective export compliance solutions.
COSCO Shipping has stated that, with the support of Bravowhale Technology in the future, it will leverage its port network advantages and stabilize shipping logistics supply chain services. This initiative is geared towards enhancing the efficiency and transparency of multinational supply chains. Through standardized services, they aim to reduce customer export costs, enabling efficient and compliant international operations.
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