Powerbridge Technologies, a global trade software applications and technology services provider, has announced the launch of its Big Data Risk Monitoring platform at the Chinese river port of Nanning as part of its ‘Smart Customs’ initiative.
The port serves as a strategic Belt and Road Initiative (BRI) gateway along China’s southwestern border. It facilitates cross-border trade across 26 ports along 497 miles with neighbouring Southeast Asian nations.
The BRI is the single biggest infrastructure redevelopment project in history and will see approximately $US1 trillion spent on ports, railways, roads and airports in order to revolutionize the global supply chain.
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Upon completion, it is expected to comprise 55% of the world’s GDP, and stretch from the South China Sea to the Baltic.
PTI has covered the rise of the BRI in detail and explored the effect it will have on the maritime industry and wider supply chain, including an exclusive insight on how it is rejuvenating the Pakistani port of Gwadar.
The platform has been designed to allow custom agencies to manage and monitor in real-time complex operational and regulatory risks relating to cross-border customs declarations as well as optimize operations in trade logistics and trade compliance.
According to the company, the solution guarantees higher duty collection, faster processing time and higher compliance and logistics efficiency while servicing global trade and logistics service providers.
“We are pleased that our big data platform is now successfully launched at Nanning Customs. The platform significantly enhances the level of risk control and prevention, a challenge faced by many customs agencies today, in real time,” said Ban Lor, CEO of Powerbridge Technologies.
“We are aggressively bringing this product across China to help customs authorities effectively manage their regulatory and operational risk control.”