China Railway E-Letter is an electronic acceptance bill issued by China Railway Group, which is endorsed by corporate credit, not a traditional commercial bill. China Railway E-letter can realize its value through transfer, discount and pledge. The use of electronic technology provides a more convenient trading mode, which can be operated and managed on the electronic platform. Compared with the traditional paper commercial acceptance bill, China Railway E-Letter has higher security and convenience, providing more choices and flexibility for the participants in the transaction.