The 130th China Import and Export Fair (Canton Fair) was held from October 15th to October 19th. Industrial and Commercial Bank of China (hereinafter referred to as “ICBC”), as the financial service provider of the Canton Fair, the global investment and exhibition partner, and the exclusive financial support institution for the 2021 Provide supporting services for exclusive products and other aspects.
ICBC assists the “double cycle” in all aspects
As the exclusive financial support organization for the “Canton Fair “Dual Cycle” Promotion Activity”, the ICBC customized the “Smart Sharing ICBC, Gathering Canton Fair” financial support for the new development pattern of “Dual Cycle” financial service plan through the “Industry and Trade Access”. The three major products of “Gongtuo Global” and “Gongying Technology” provide enterprises with globalized, intelligent and convenient integrated financial services, covering online financing, cross-border investment and financing, global cash management, global matching and other fields.
At the same time, ICBC will also vigorously carry out the recruitment of global merchants for the Canton Fair. Through 426 overseas branches covering 49 countries and regions, it will hold overseas promotion and investment promotion activities in 12 countries and regions including Argentina, Mexico and Australia. At the same time, the bank’s nearly 16,000 outlets across the country actively mobilized high-quality foreign trade corporate customers and “going out” companies, inviting its overseas trading partners to pay attention to the Canton Fair and become overseas buyers.
During the 130th Canton Fair, ICBC domestic and foreign institutions held 6 cloud promotion activities at ICBC (Asia), ICBC Moscow, ICBC Peru, ICBC Mexico, Milan and Panama branches. In addition, the China Foreign Trade Center and the Provincial Department of Commerce organized 5 online and offline joint investment promotion conferences in Fuzhou, Jinan, Chengdu, Nanjing, and Hangzhou, with more than 230,000 online and offline participants.
In order to accurately meet the needs of exhibitors, ICBC provides a series of exclusive financial services such as financing, settlement, and cash management for Canton Fair exhibitors and buyers through “digital docking”. More than 20 products and services in the large service section. At the same time, the bank has added services such as VR business halls and intelligent customer service to provide exhibitors and buyers with all-weather and intelligent integrated financial services.
Data shows that during the 127th to the 129th Canton Fair, ICBC’s Canton Fair’s exclusive financial service zone has accumulated more than 80,000 online visits; more than 35,000 cross-border settlements were handled for exhibitors in Guangdong, with an equivalent amount of about 35 billion yuan; 7,181 Canton Fair exhibitors actively granted over 14.6 billion online credits, and granted over 10 billion financing for nearly 2,300 Cantonese exhibitors.
Finance empowers high-quality trade development
At present, a new development pattern with the domestic big cycle as the main body and the mutual promotion of the domestic and international double cycles is gradually taking shape. ICBC gives full play to its advantages in overseas layout and international operation, vigorously promotes the integration of domestic and foreign trade, new trade formats and international market expansion, and supports the high-quality development of trade in all aspects.
Guangdong ICBC works closely with government regulatory agencies and enterprises at all levels to provide preferential interest rates and services such as diversified financing, international settlement, and global cash management to effectively strengthen financial protection for domestic and foreign companies. In the past five years, the branch has provided more than 4 trillion yuan in various financing supports in Guangdong.
Guangdong ICBC also relies on the “ICBC Gathering” platform to innovate and launch the government procurement loan business, which has been implemented in Guangzhou, Dongguan, Zhuhai, Zhongshan, Yunfu, Shaoguan, Yangjiang and other places, providing online appointments for opening accounts and operating quick loans for many government suppliers , Supply chain financing, fund supervision and other services to help the development of small and micro customers.
It is understood that the “ICBC Gathering” platform is an industrial supply chain Internet platform that serves large and medium-sized enterprises as its core and benefits upstream and downstream SMEs. It provides one-stop financial services for enterprises through “industrial e-commerce + online finance + big data” , To build a complete financial service circle for the capital chain of upstream and downstream customers of core enterprises.
At the same time, ICBC has effectively increased its financing support for foreign trade companies. Since 2020, Guangdong ICBC has issued nearly 530 billion yuan of financing to foreign trade companies, an increase of 12% year-on-year.
In terms of electronic intelligence, ICBC also launched the “ICBC e-Customs” service this year to improve cross-border settlement and financing efficiency and business experience. According to statistics, as of the end of September 2021, Guangdong ICBC has handled nearly US$3.3 billion in cross-border settlements through a “single window”.
On February 1 this year, Guangdong ICBC became the second batch of first financial institutions in Guangdong Province to launch FT account business. As of the end of September, Guangdong ICBC has successfully opened FT accounts for more than 1,600 companies, and provided cross-border financial services of “deposit, loan, exchange, exchange and pooling” for domestic and overseas customers.
ICBC closely follows the new policies of the Foreign Exchange Administration and the People’s Bank of China, seizes the opportunity of being the first batch of pilot banks to implement facilitation policies, and continues to promote the expansion of various facilitation policies. As of the end of September, Guangdong ICBC has handled a total of US$14.2 billion in pilot businesses for trade in goods, trade in services, capital accounts, and cross-border RMB facilitation; among them, the pilot program for facilitation of trade foreign exchange receipts and payments is US$12.7 billion, which is the bank with the largest number of pilot enterprises in Guangdong .Return to Sohu to see more
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