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Service innovation and upgrading of China CITIC Bank in the new stage of supply chain finance development

Time : 08/10/2021 Author : pd0zov Click : + -
        Recently, the State Council held a national teleconference on stabilizing the economy, printed and distributed a package of policies and measures to stabilize the economy, and proposed that "financial institutions and large enterprises should support financing such as pledge of accounts receivable of small, medium and micro enterprises, and support the financing and development of large, medium and small enterprises through supply chain financing and bank enterprise cooperation". As one of the first commercial banks in China to carry out supply chain finance business, China CITIC Bank has gone all out to help stabilize the economic fundamentals, adhere to the responsibility of state-owned banks, practice the concept of "transaction + more than finance", take the financing ability of "scenario + data" as the core, and make breakthroughs and innovations step by step along the development direction of "online, platform and ecological", We are committed to providing the best supply chain financial services for small and medium-sized enterprises.
        At present, the international situation is complex and changeable. Enterprises have generated more and more transactional financing needs related to daily production and supply chain activities, which are more characterized by short cycle and high frequency. Financing timeliness has become one of the important competitiveness of banks. More and more supply chain financial services have been transferred to online, which satisfies enterprises to handle business anytime and anywhere through electronic channels such as enterprise online banking and mobile banking. It is understood that China CITIC Bank began to expand the online layout of supply chain finance as early as 2019. At present, China CITIC Bank's supply chain financial products have been online, and a series of products that have been highly praised by the market, such as letter E pool, letter E chain, letter factoring, letter E purchase, letter commercial bill, letter letter of guarantee, letter circulation, letter E sales and letter e warehouse, have greatly improved customer experience and financing convenience.
        For a long time, China CITIC Bank has never forgotten its original intention, fully supported the stable upgrading of the supply chain industrial chain and the national strategic layout, and accurately matched the financial needs of supply chain entities, especially small and medium-sized enterprises, in production, circulation, trading and other links. According to the data, in 2021, China CITIC Bank provided 922.2 billion yuan of supply chain financing for 25000 enterprises, with a financing balance of 482.9 billion yuan, a year-on-year increase of 62%. Among them, the balance of supply chain loans in key areas such as inclusive finance, manufacturing, green credit and strategic emerging industries exceeded 120 billion yuan, achieving a doubling growth. With the development of the industrial Internet, various industries have accumulated a large amount of data. The development of big data, cloud computing, blockchain and other technical means has brought the role and value of data into full play. Core enterprises and e-commerce companies, which play a leading role in the supply chain, are increasingly open to data.
        The platform can connect and integrate data from different channels, solve the problems of information asymmetry and lack of debt credit in traditional supply chain finance, and promote the transformation of supply chain finance from financial risk control logic to "scenario + data" risk control logic, thus serving more small and medium-sized enterprises. CITIC Bank actively applied platform thinking to innovate its business model and successfully built a smart supply chain platform. By analyzing and abstracting the parameters of core enterprises and upstream and downstream elements to form a symbol system, and combining various data such as industry, industry and commerce, finance and credit information, CITIC Bank realized digital risk identification, product recommendation, marketing opportunities, intelligent early warning and processing for the whole and individual supply chain.
        CITIC Bank is committed to building the smart supply chain platform into an "open, shared and trusted" financial service platform of the whole industry chain. At present, the smart supply chain platform has been connected with nearly 100 industrial platforms, e-commerce platforms, supply chain platforms, government bidding platforms, drug trading platforms, etc. through the sharing methods of blockchain, bank enterprise direct link, API, SDK, etc., to effectively integrate data resources, form data assets, and release data values, In 2021, the platform provided 9370 enterprises with 31.1 billion yuan of comprehensive financing, and the risk was effectively controlled to achieve zero non-performing. In the opinions on standardizing the development of supply chain finance and supporting the stable circulation, optimization and upgrading of the supply chain industry chain jointly issued by eight departments of the state in 2020, it is clearly proposed to "promote the scenario and ecology of supply chain finance".
        In the face of this major proposition, the market entities have made great achievements in scenario, deeply cultivated supply chain scenarios such as bidding, procurement, logistics, sales and warehousing, and launched corresponding products and services to meet the financial needs of small and medium-sized enterprises. However, in terms of ecology, it has not really solved the problem. This is also a brand-new development stage of China CITIC Bank after the supply chain finance experienced online and platform. In addition, in the era of digital economy, everything is changing, and many factors promote the integration of digital finance and industry. Digital technology has greatly improved the matching degree between banking services and enterprise needs, and has started to upgrade from refined services to full life cycle. Based on more than 20 years of supply chain finance experience and the completed business system, China CITIC Bank pioneered the innovative mode of "building a supply chain ecosystem with the enterprise asset pool as the core" in the industry. Centering on the industry leader, by gathering high-quality assets of enterprises, China CITIC Bank connected data, products and platforms online, integrated a variety of financing products on and off the balance sheet, and built a supply chain ecosystem covering core enterprises, upstream and downstream.
        The greatest value of "supply chain ecology" lies in the formation of enterprise asset clusters through the integration of the whole line, solving the problems of amount mismatch, term mismatch, credit mismatch and product mismatch of enterprise liquidity assets, and improving the efficiency of resource allocation of the supply chain industry chain. CITIC Bank will release "transaction + 2.0" in the near future. At that time, it will show the construction of "supply chain ecology" in detail, and is committed to building a supply chain ecology with asset pool as "one center" and core customers as "ecological partners" to better provide financial services for the development of the real economy.
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