Bank of China Launches First Cloud-driven Idle Goods Trading and Poverty Alleviation Platform

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Big state-owned lender Bank of China (BOC) has just launched a new cloud-powered idle goods trading platform as part of efforts to improve poverty alleviation.

BOC recently held the launch ceremony for the Bank of China Idle Goods Trading Poverty Alleviation Platform (中国银行闲置物品交易扶贫平台) at the Bank of China Headquarters Building in Beijing, according to an 18 September report from Securities Daily.

The Platform is a pilot scheme jointly run by the Chinese Financial Workers’ Union, the Bank of China Union and Beijing Fugong Life Technology Development Limited Company.

According to BOC the purpose of the platform is to create a “new model for consumption and poverty alleviation,” by trading and circulating idle goods on the cloud platform, and thus “spurring circular economic development.”

The Platform will focus on BOC’s roughly 330,000 staff both in China and abroad, building upon the BOC Union’s cloud platform which is already widely employed within the bank itself.

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