On the theme day of the 2026 Shanghai Digital City Event Month held recently, Qian Xiao, deputy director of the Shanghai Data Bureau, mentioned a new term — “Total vs. Total.” Relying on the blockchain network for aviation trade, Shanghai's “total to total” data cross-border service facility has systematically solved the three major problems of cross-border compliance, cross-border trust, and cross-border costs. Currently, Shanghai has developed service connections with 8 banks in Hong Kong, including Hong Kong's HSBC, Hang Seng, and Bank of China Hong Kong. For cross-border trade financing, banks must first “establish trust” — confirm that the trade is real, with contracts, invoices, bills of lading, and customs declarations; confirm that the enterprise is compliant, has not entered the untrustworthy list, and has no false trade history. On the other hand, there are clear restrictions on data exit — the company's trade data, order information, and logistics documents are not only trade secrets, but also involve cross-border compliance.

On the theme day of the 2026 Shanghai Digital City Event Month held recently, Qian Xiao, deputy director of the Shanghai Data Bureau, mentioned a new term — “Total vs. Total.” Relying on the blockchain network for aviation trade, Shanghai's “total to total” data cross-border service facility has systematically solved the three major problems of cross-border compliance, cross-border trust, and cross-border costs. Currently, Shanghai has developed service connections with 8 banks in Hong Kong, including Hong Kong's HSBC, Hang Seng, and Bank of China Hong Kong. For cross-border trade financing, banks must first “establish trust” — confirm that the trade is real, with contracts, invoices, bills of lading, and customs declarations; confirm that the enterprise is compliant, has not entered the untrustworthy list, and has no false trade history. On the other hand, there are clear restrictions on data exit — the company's trade data, order information, and logistics documents are not only trade secrets, but also involve cross-border compliance.