Since February 2024, the People's Bank of China Shanghai Headquarter and the State Taxation Administration of Shanghai Municipality have collaborated to introduce blockchain technology, innovatively launching a new model for cross-border remittance tax payment services. This initiative enables one-stop services for offshore remittances, tax payments, and fund deposits through an online platform, significantly reducing time, cost, and currency conversion issues faced by non-resident enterprises when conducting cross-border remittance tax payments. As of the end of August 2024, Shanghai had completed a total of 1.486 billion yuan worth of cross-border remittance tax payment transactions using this new model. Participating pilot banks include Industrial and Commercial Bank of China, Agricultural Bank of China, and Bank of China, supporting various currencies such as RMB, USD, EUR, JPY, among others. It also covers different types of taxes including corporate income tax and stamp tax. This move not only enhances the transparency and security of cross-border transactions but also greatly improves the efficiency of tax processing, holding significant importance for optimizing the business environment.