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ICBC Gives Digital Support to “Online Canton Fair”
 

The 127th China Import and Export Fair (“Canton Fair”) which lasted for 10 days, came to a close on June 24. As the strategic partner and financial service provider, ICBC, relying on big data and FinTech, provided exhibitors and buyers of Canton Fair with such online services as financing, account opening and cross-border settlement. Over the past 10 days, a total of 54,600 people visited ICBC’s booth, that handled over 10,000 cross-border settlement worth more than RMB14 billion for Cantonese exhibitors, and provided RMB1.06 billion of financing for 120 Cantonese exhibitors.

Developing “Digital ICBC” to Facilitate Online Financial Services

In this online Canton Fair, “cloud”, “digital” and “sci-tech” became buzzwords. To meet the financial needs of exhibitors at home and abroad, ICBC offered exhibitors and buyers a package of exclusive products at the “digital ICBC” booth of the Canton Fair, including one-stop, online and efficient integrated financial services, like Canton Fair special loans, cross-border settlement, cross-border e-commerce integrated financial services, VIP channel of account opening, global cash management, corporate mobile banking and global travel credit cards, etc.. For the convenience of customers, ICBC service booth provided both PC version and mobile version, each with Chinese and English pages.

It is said that those online financial services are relied on the offline global layout of ICBC. As one of Chinese-funded banks with the most extensive service network layout around the globe, ICBC has set up institutions in 49 countries and regions worldwide, and indirectly covered 20 African countries by holding equity of Standard Bank Group. Overseas and domestic institutions worked together to serve exhibitors and buyers at home and abroad with regard to settlement and financing. According to the data, ICBC service booth was visited by 54,600 person times in all during the Canton Fair. Some services were widely praised by exhibitors and buyers, including online appointment for ICBC outlet, Canton Fair special loans and online appointment for account opening.

ICBC Makes Innovation in Exclusive Financial Products and Supports Active Service with Big Data

“Thanks to the assistance of ICBC, we resumed production in time,” said a manager of Yongli Labor Protection Supplies Co., Ltd. in Gaozhou, Maoming, an exhibitor of the Canton Fair, which mainly produces leather gloves exported to Russia, Canada and Hong Kong, etc. Affected by the COVID-19 epidemic, the company was under financial strain and faced with the great pressure of upcoming failure to resume production on time due to cost inflation in raw materials, shortage of supply of goods and labor. Learning the situations, ICBC’s local branch granted the firm “Canton Fair Loan” of RMB3 million and opened green channel for the company in the shortest time. As such, the revived company participated in this year’s Canton Fair as scheduled.

“Canton Fair Loan” is one of innovative financing products introduced by ICBC for the fair. Among the first batch of financial institutions in the financial zone of Canton Fair that provided online application for financing and preliminary credit, ICBC launched “Canton Fair Loan” to furnish exhibitors with online services, ranging from financing application, contract signing to withdrawal and repayment. The product has larger loan amount, longer term and more preferential interest rate compared with its counterparts. As of June 24, ICBC has granted over RMB5 billion of online credit to nearly 3,000 exhibitors, and provided 120 Cantonese exhibitors with RMB1.06 billion of financing.

ICBC Launches Cloud Promotion to Invite Global Enterprises

ICBC, by taking advantage of its global, collective and integrated operation at home and abroad, mobilized its domestic and overseas institutions as well as relevant import and export enterprises to invite foreign buyers. According to data, ICBC succeeded in inviting over 300 overseas enterprises to participate in the Canton Fair.

Domestic and overseas institutions such as Guangdong Branch, ICBC (Asia), ICBC (Argentina) and ICBC Seoul Branch spared no effort to promote Canton Fair and attract investment with close inter-interaction. During the period, Guangdong Branch encouraged more than 1,300 import and export enterprises in Guangdong Province to send invitation of Canton Fair to their foreign trade partners. ICBC (Argentina) carried out three promotion events in succession from June 10-12. With the instruction from Canton Fair, the online promotion event on June 10 was organized jointly with Argentine Chamber of Commerce for Asia and the Pacific. At the event, elaborate promotion material in Spanish was handed out to introduce operational processes involving the usage of buyer service platform, initiation of online communication and order of intention, enabling Argentine enterprises to know more details about the Canton Fair. In addition, ICBC (Argentina) opened hotline to help enterprises with problems complete registration process. More than 150 enterprises and institutions completed registration and participated in this Canton Fair thanks to the assistance of ICBC (Argentina).         


(2020-08-11)
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