Shanghai FTZ continues to thicken its offshore-trade framework along two tracks: stamp-duty relief on offshore merchanting, which directly lowers contract-stage tax cost, and cross-border RMB settlement facilitation, which lets transactions with genuine trade backing use streamlined review and shorter settlement chains. For traders whose core model is re-export, the combined effect extends well beyond the tax line itself. On a 30,000-tonne cargo across SNSUC's seven re-export crude grades (ESPO, Dubai, Oman, Urals, Basrah Light, Bonny Light and Lula), stamp-duty relief plus direct RMB settlement can trim total transaction costs by roughly 0.3-0.5 percentage points; with the RMB at 6.7349, the direct route also removes about one trading day of USD exposure - meaningful, deterministic value in a thin-margin business. The caveat is that facilitation is always conditional on verifiability. For banks and regulators the central question in offshore trade is transaction authenticity: whether title documents, logistics records and fund flows close the loop. In practice most disputes arise not because a deal was fabricated but because the evidentiary chain cannot be reconstructed after the fact. SNSUC Research Institute recommends moving the mapping between these three document sets upstream into deal design, and using digital warehouse receipts plus on-chain fingerprints to create tamper-proof timestamps, shifting authenticity review from after-the-fact explanation to demonstrable ex-ante proof. For re-export structures spanning multiple jurisdictions, issuing entities and the precise moment of title transfer should also be fixed in advance, to avoid divergent readings under tax and FX regimes.