Announced at an “internet plus logistics supply chain” financing innovation conference in Harbin on Dec 2, China’s first payment platform providing guarantees to B2B (Business-to-Business) companies, Huodaibao, will settle in Xiangfang district of Harbin, Northeast China’s Heilongjiang province.

The biggest advantage of the Huodaibao platform is that companies selling products through e-commerce platforms will instantly receive payments for goods when they are distributed to logistics companies, without having to wait for customers’ confirmation. Previously, payment withdrawals costs companies a lot of time and third-parties that collect trade charges could flee with money. The new platform speeds up the trade progress and improves the safety level of e-commerce.

In light of the rapid growth and strong development of e-commerce, China’s logistics industry warrants the establishment of the Huodaibao platform. Moreover, due to Harbin’s advantageous geographical location, the settlement of Huodaibao in Harbin will also push economic development and trade between Harbin and European countries.