The Yue Xin Rong cross-border verification services for business enterprises recently started up in Tianhe district, after the Tianhe Branch of the Bank of China provided a credit line for the resident company Guangzhou Yingwuluo Digital Art Investment through the platform.

Yue Xin Rong – or the Guangdong Credit Information and Financing Exchange Platform for Micro, Small, and Medium-sized Enterprises – was launched by the Guangdong Branch of the People's Bank of China.

Guangzhou Yingwuluo Digital Art Investment is a Macao-funded company that has settled in the Guangdong-Hong Kong-Macao Greater Bay Area (Guangdong) Innovation and Entrepreneurship Incubation Base, which is situated in Tianhe district.

Growing up: High-rises now tower over Tianhe district. [Photo/WeChat account: tianhefabu]

It often takes a lot of time for financial institutions to verify the authenticity, integrity, and accuracy of materials such as certificates of overseas assets provided by customers.

As a result, enterprises from outside Guangdong province have had trouble in the past in securing cross-border financing and loans.

The Yue Xin Rong platform, which depends on ironclad and traceable blockchain technology, can support cross-border information authenticity verifications efficiently and safely.

The head of Guangzhou Yingwuluo Digital Art Investment said that Yue Xin Rong has brought great convenience for the company to handle its credit extensions and what's more, it has also greatly improved the overall efficiency of banks to grant credit.

The Yue Xin Rong cross-border verification services for individuals are now also available in Tianhe after the Guangzhou Branch of Macao-based Luso International Banking and the bank's head office opened up a channel for the platform.

Tianhe has become the precinct in Guangzhou with the most financial institutions and the most developed financial services industry. It now hosts 268 Macao-funded enterprises, accounting for nearly 30 percent of Guangzhou's total.