Shanghai officially launched the pilot of "supply chain finance for bulk commodities based on blockchain technology" in the afternoon of September 21. The non-ferrous metal exchange center, Shanggang cloud warehouse, and the first batch of 4 bulk commodity trading companies on the platform signed a strategic cooperation agreement with Bank of Communications. Last year, the General Office of the Shanghai Municipal Government issued the "Several Opinions on Promoting the High-Quality Development of Productive Internet Service Platforms in this Municipality", proposing to accelerate the application of blockchain technology, leverage the role of blockchain in promoting data sharing, optimizing business processes, and building a trusted system to enhance the authenticity and regulatory level of productive internet service platform businesses. The launch of the pilot for "supply chain finance for bulk commodities based on blockchain technology" in Shanghai aims to use financial technology innovation, leverage the role of government guarantee funds, promote the development of supply chain finance based on blockchain technology, and better serve the real economy.