日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Finance

Financial innovation speeds up pace of change

By Jiang Xueqing | China Daily | Updated: 2018-12-05 10:30
Share
Share - WeChat
File photo of China Zheshang Bank. [Photo provided to chinadaily.com.cn]

China Zheshang Bank Co is using big data and blockchain technologies to introduce more innovative financial services, aiming to promote intelligent transformation via digitalization among small and medium-sized enterprises.

Many private companies remain concerned about the risks related to such changes, said Wu Jianwei, vicepresident of CZBank. The Hong Kong-listed national joint-stock commercial lender is headquartered in Hangzhou, Zhejiang province.

The investment involved is huge, and the transformations have to be customized and constantly upgraded, he explained, while customers and providers of intelligent manufacturing solutions are reluctant to cooperate due to the lack of mutual trust.

In Xinchang county in eastern Zhejiang, the majority of over 600 local private SMEs are considering intelligent transformations, but many have reservations about using unfamiliar intelligent manufacturing solutions provided by the local company Zhejiang Toman Intelligent Manufacturing Technology Co.

At the same time, Toman has concerns about the creditworthiness of these small businesses, asking them to pay before providing its services.

To break the deadlock, CZBank agreed to pay a default penalty on behalf of either party if it fails to uphold the business contract. The bank would recover its costs later from the defaulting party, whose credit report would be updated if it fails to make a repayment.

"Adopting this model, Toman has helped more than 110 downstream bearing manufacturers to complete intelligent transformation of 10,000 pieces of equipment. After their transformations, these companies have saved half of their labor costs on average and increased their production capacity by 20 percent," said Yu Chaojie, chairman of Toman, at a news conference last week.

CZBank has now gained access to a crucial part of Toman's online data about its customers and their equipment. The two parties have formed a team to conduct research into effectively managing risks in a timely manner by using big data, including that related to equipment conditions, production capacity and energy consumption.

To deal with the lack of trust between intelligent manufacturing service providers and customers, CZBank used blockchain technology during its research into supply chain finance.

The bank granted lines of credit to downstream SME clients of Zhejiang Rifa Textile Machinery Co, a spinning and weaving machinery manufacturer, based on Rifa's creditworthiness, to cover funding gaps on their equipment purchases.

These companies will receive their equipment after paying front money to Rifa. To ensure they pay the remainder, they will sign an agreement with the manufacturer using an online service provided by the bank, which adopts blockchain technology to record the deal securely.

Rifa is allowed to convert this agreement - an alternative type of bills receivable - into cash or to make a payment to its suppliers with it, with no need to worry about its downstream client defaulting on a payment.

This innovative financial service has helped over 100 private textile companies to upgrade their equipment and has increased Rifa's sales revenue by 300 million yuan ($43.55 million). Compared with collateral loans backed by a company's equipment, this service has lowered Rifa's downstream enterprises' financial costs by about 20 percent, according to CZBank.

Yan Huaibin, general manager of the bank's corporate banking department, said: "We embedded risk management in our financial products for corporate clients. Instead of simply controlling the risks of a single company, we are trying to join the company and its upstream and downstream companies together for better risk management."

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 特级黄色小说 | 日韩爽爽爽视频免费播放 | www91| 五月婷婷 六月丁香 | 九九99久久精品在免费线bt | 狠狠综合久久av一区二区小说 | 酒色婷婷 | 午夜影院在线观看版 | 午夜羞羞 | 国产综合婷婷 | 中文字幕日韩欧美一区二区三区 | 成人午夜免费福利 | 国产午夜福利视频一区二区32页 | 欧美日在线 | 久久久国产精品免费视频 | 久久久久综合精品福利啪啪 | 国产中文字幕在线 | 久久久网站亚洲第一 | 一区二区三区回区在观看免费视频 | 国产日产精品一区二区三区四区 | 天天草天天干天天 | 成年人免费网站在线观看 | 九九99久久精品在免费线bt | 久久午夜电影网 | 成人免费毛片在线观看 | 欧美日韩国产一区二区三区 | 最新精品在线 | 欧美高清hd | 国产精品久久久久久影视 | 日本高清无吗 | 欧美黑人xxx | 久久国产免费福利永久 | 2021国产精品| 久久久国产视频 | 国产电影网 | 精品久久久久久久久久久久 | 欧美日韩成人在线观看 | 日日日bbb| 婷婷五月色综合香五月 | 天天操网| 苏晓晖个人简介军衔 |