中行福费廷业务,中国银行业协会商业银行福费廷业务指引

中行福费廷业务是中国银行业协会推出的一项金融服务，旨在帮助银行客户更好地管理其财务，并获得更多的财务福利。

首先，让我们来看看财务管理。中行福费廷业务提供的财务管理服务，主要是为了帮助银行客户更好地管理其财务，比如收入、支出、储蓄、投资等。它提供的服务可以帮助客户更好地掌握财务状况，并有效地实现财务自由。

其次，我们来看看财务优惠。中行福费廷业务提供的财务优惠，主要是为了帮助银行客户获得更多的财务福利。它提供的财务优惠，包括但不限于银行贷款优惠、信用卡优惠、理财产品优惠等。通过这些财务优惠，银行客户可以获得更多的财务收益，帮助客户更好地实现财务自由。

最后，让我们来看看投资服务。中行福费廷业务提供的投资服务，主要是为了帮助银行客户更好地投资理财，比如证券投资、基金投资等。它可以提供专业的投资建议，帮助客户制定合理的投资策略，从而获得更多的投资收益。

总之，中行福费廷业务是中国银行业协会推出的一项金融服务，旨在帮助银行客户更好地管理其财务，并获得更多的财务福利。它提供的财务管理、财务优惠和投资服务可以帮助客户更好地实现财务自由。

请查看相关英文文档

A. One Week of Digitalization丨Joining hands with Alibaba, Konka breaks through in the Internet of Things era

▌ Digital transformation case< /p>

◆ German Henkel Group and Alibaba 1688 have reached an annual marketing strategic cooperation

According to news on January 26, the German century-old chemical giant Henkel Group and Alibaba 1688 have reached an annual marketing strategic cooperation, becoming the first A chemical company that has reached annual strategic cooperation with 1688 digital marketing platform. 1688 Digital Marketing will be based on the online and offline global marketing product matrix and rely on the ecological service system to provide Henkel with industry-specific and personalized year-round marketing solutions, through value-added service rights, special marketing scenarios, service training support, and product data advantages. , 1&N brand and dealer joint marketing tools, combined with comprehensive empowerment, help Henkel better respond to customers' growing digital needs and further tap market potential.

◆Unilever and JD Supermarket have reached a strategic cooperation

Recently, Unilever and JD Supermarket have reached a strategic cooperation, which will focus on category construction, marketing co-creation, technology-driven and unbounded retail. Cooperate in other aspects. According to the agreement, Unilever will launch a number of new products in JD Supermarket in 2019 to create a JD exclusive product line. JD Supermarket will accelerate the opening of the "User Operation Center" tool to Unilever to help both parties accelerate precision marketing. In addition, Unilever will implement strategic cooperation projects such as collaborative warehouses in the first half of 2019, accelerating the implementation of comprehensive collaborative projects between both parties.

◆Country Garden, a real estate company, wants to transform into a high-tech enterprise

At the 2019 annual meeting of Country Garden Group on January 21, Country Garden Chairman Yang Guoqiang said that we are now moving towards a high-tech enterprise. This is the source of our strong competitiveness in the future. Our three focuses in the future are: real estate, agriculture, and robots. Since 2018, Country Garden has spared no effort in investing in popular areas such as robotics, modern agriculture and new retail. From construction robots to modern agriculture, Country Garden’s new layout is all centered around “houses” and “land”.

◆Haier joins hands with Covestro to build digital joint laboratory

Recently, the global large home appliance brand Haier and the German materials manufacturer Covestro officially signed a cooperation agreement in Qingdao, relying on Haier Industry Intelligence Research Institute and jointly build the "Haier-Covestro Digital Joint Laboratory". The laboratory will be dedicated to developing digital solutions related to polyurethane processes in the production of home appliances, aiming to set a new benchmark for the digital transformation of the chemical industry. Through the "Haier-Covestro Digital Joint Laboratory", the two parties will jointly develop solutions in multiple fields such as production line data acquisition, online quality monitoring, data analysis and mining, and process optimization.

◆Belle International’s decentralization promotes digital transformation

Recently, Belle International Executive Director LiLiang said in an interview that the overall idea of ​​Belle's digital transformation is decentralization and pushing the use of digital tools to the front end. In Li Liang's view, there are three major pain points of "data fragmentation" in traditional shoe retail: first, the underlying data is fragmented, and mall data cannot feed back to brands and merchants in a timely manner; second, the data in different regions, different channels, and different stores The data is fragmented and cannot form effective "data alignment"; third, the response mechanism is fragmented, and there is a separation between macro data and micro decision-making. Data cannot quickly help front-line sales staff answer questions or guide the supply chain to make timely adjustments. .

◆CNOOC tests digital transformation

On January 23, CNOOC announced its business strategy and development strategy for the new year. In 2019, CNOOC plans to increase capital expenditures, and increasing oil and gas reserves and production, digital transformation, and exploring offshore wind power will be the focus of the work. CNOOC's management stated that regarding digitalization and intelligence, the database will be improved based on the previously accumulated data on Daiang's exploration and development to provide guidance for future exploration research and development strategies. At the same time, artificial intelligence technology will also be used to provide remote support for offshore operations, through intelligent Oilfield and cloud platform construction, exploring business digital innovation.

▌Artificial Intelligence

◆Huazhong University of Science and Technology established the Artificial Intelligence Research Institute

On January 26, Huazhong University of Science and Technology, College of Artificial Intelligence and Automation, Artificial Intelligence Research The institute was formally established. Vice Governor Chen Anli, Secretary of the Party Committee Shao Xinyu and President Li Yuanyuan of Huazhong University of Science and Technology jointly unveiled the plaque. Currently, Huazhong University of Science and Technology ranks eighth in the country in terms of academic output in the field of artificial intelligence, and ranks sixth in the country in quality of results. In line with the national strategy and serving the development of Hubei, Huazhong University of Science and Technology deepens the integration of industry and education and school-enterprise cooperation. With the original School of Automation as the main body, it improves the organization, innovates the system, and establishes the School of Artificial Intelligence and Automation and the Artificial Intelligence Research Institute.

◆Hailong Building completed the transformation and upgrading of the electronics store

With the advent of the Internet era, Hailong Electronics City has also accelerated its "reform and upgrading" and started the road to transformation. Hailong Building has been transformed from a former electronics store into the country's first smart hardware innovation center. During this period, it has experienced the decentralization of electronic product sales merchants, leaseback and repurchase of the property rights of small owners, strengthening industrial upgrading and adjustment, and the introduction of Horizon Technology, Megvii Technology, and Ingdan Technology. Among the leading companies in the artificial intelligence industry, technological innovation companies such as artificial intelligence and incubators have reached more than 90%, and the transformation effect is obvious.

◆Xi'an Jiaotong University established the School of Artificial Intelligence

On January 21, Xi'an Jiaotong University held the unveiling ceremony of the "School of Artificial Intelligence". Sun Jian, the world's top young scholar in the field of artificial intelligence, chief scientist and research institute director of Beijing Megvii Technology Co., Ltd., was awarded the position of dean of the School of Artificial Intelligence of Xi'an Jiaotong University. The college will give full play to Xi'an Jiaotong University's disciplinary development and talent training advantages in the field of artificial intelligence,Form a high-end talent accumulation effect and explore new models of industry-university-research cooperation in the intelligent industry.

▌Internet of Things

◆Konka joins hands with Alibaba to break through in the Internet of Things era

Recently, the "Nth Power of Ease" 2019 hosted by Konka Internet Division At the Konka Internet Strategy Conference and Annual Marketing Ceremony, Alibaba and Konka Group announced that they had reached a strategic cooperation, and Alibaba's investment in Yi Pinghe, a subsidiary of Konka Group, opened up horizons. In 2019, Konka's Internet strategy is to focus on "five major scenarios", that is, to comprehensively build "situational integration" between people and screens in home scenes, business travel scenes, community scenes, scenic spot scenes and office scenes.

◆Huawei’s 5G major release

On January 24, Huawei held a 5G press conference and 2019 Mobile World Congress pre-communication meeting in Beijing, and released the world’s first 5G base station core chip ——Huawei Tiangang is committed to building minimalist 5G and promoting large-scale and rapid deployment of 5G around the world. Currently, Huawei has secured 30 5G commercial contracts, and more than 25,000 5G base stations have been shipped to various parts of the world. At the same time, Huawei officially released the 5G multi-mode terminal chip and the first 5G commercial terminal based on the chip to the world, bringing a second-to-none high-speed connection experience and bringing the smart world of the Internet of Everything one step closer to people's lives.

◆Bosch and Yaguan Technology reached a strategic cooperation agreement on the Internet of Things

On January 22, Bosch Security Communication System and Hangzhou Yaguan Technology, a leading domestic AIoT whole-house intelligence company, jointly signed a strategy In the cooperation agreement, the two parties will form a long-term and comprehensive strategic partnership in IoT and related fields to jointly create a whole-house intelligent experience and promote the development of the whole-house intelligent industry. According to the agreement, the two parties will cooperate on Bosch ZigBee smart wireless infrared human movement sensors and Bosch ZigBee smart wireless multi-function sensors, and connect them to Yaguan Technology's whole-house smart solutions.

◆Cainiao Network opens its first IoT robot distribution center

On January 22, Cainiao Network announced that the country’s first IoT robot distribution center was opened in Nanjing. By moving in the distribution center, the robot sorts packages destined for more than 60 distribution outlets in Nanjing into order, making it easier for couriers to deliver. Cainiao flexible automation engineer Zhong Xiang said that this system is based on IoT technology and applies computer vision and multi-agent robot dispatching technology to achieve full control, intelligent identification and rapid distribution of large parcels throughout the distribution center. .

▌Blockchain

◆Tencent and Guiyang will conduct in-depth cooperation in the fields of cloud computing, AI and blockchain

On January 26, Tencent and the Guiyang Municipal People's Government signed a deepening cooperation agreement today. The two parties will develop the digital economy and create "Digital Intelligence Guiyang". Tencent will provide cloud computing, big data, blockchain, and artificial intelligencetechnology and experience in other fields. Tencent Cloud also simultaneously provides the underlying blockchain technology for "Digital Guiyang" to build Guiyang's "Network Identity Chain Credentials Center". Once completed, it will be able to be used everywhere with the authorization of individuals and enterprises and quickly verified.

◆CITIC Bank launched the first blockchain domestic letter of credit forfaiting business in Shandong

Recently, CITIC Bank Jinan Branch successfully handled the first blockchain domestic letter of credit for customers in its jurisdiction. Letter of credit forfaiting business, becoming the first bank in the province to carry out blockchain forfaiting business. In September 2018, CITIC Bank, Bank of China and Minsheng Bank jointly developed a blockchain forfaiting trading platform. By using blockchain, big data and other technical means, this platform can effectively solve many shortcomings of traditional inter-bank asset transactions, greatly improve transaction efficiency, enhance the security of inter-bank asset transactions, and effectively reduce transaction costs.

◆Japan Mainichi Shimbun established a blockchain laboratory

On January 22, blockchain venture capital company Gaudiy and Japan Mainichi Shimbun began to jointly research blockchain Technology and its development. Mainichi Shimbun launched the "Mainichi Shimbun Blockchain Lab." (MBL) to research and develop the application of blockchain in services and journalism. MBL's goal is to build a trust foundation for information through blockchain technology and contribute to the sound development and fairness of news.

▌Big Data

◆Shandong Provincial Culture and Tourism Big Data Research Center was established

Recently, the Shandong Provincial Department of Culture and Tourism and Jinan University signed a strategic cooperation signing ceremony Held at Jinan University, the "Shandong Provincial Culture and Tourism Big Data Research Center" was unveiled. The two parties agreed in the agreement to establish a long-term and stable cooperative relationship on matters such as the construction of the Shandong Provincial Culture and Tourism Big Data Research Center and Shandong Cultural Tourism Research based on the principles of resource sharing, complementary advantages, pragmatism and efficiency, and common development. We are committed to the integrated development of culture and tourism in Shandong.

◆Henan launches the first big data credit financing service platform

According to news on January 22, at the Henan Province 2019 Major Project Bank-Enterprise Matchmaking Conference held recently, Henan launched a comprehensive The province’s first big data credit financing service platform – “Xinyurong”. The platform achieves real-time sharing of credit information with industry and commerce, taxation, real estate registration, customs, justice, environmental protection, medical insurance, social security and other business-related business operations and supervision, and uses new technologies such as the Internet, big data, cloud computing and artificial intelligence to provide financial institutions with , enterprises provide one-stop credit big data services.

◆The first integrated media and big data research center settled in Renmin University of China

On January 22, the first integrated media and big data research center held a launching ceremony at Renmin University of China. It has become the first integrated media and big data cooperation and exchange platform in China featuring the integration of industry, academia and research. Executive Institute of Cultural Industry Research Institute of Renmin University of ChinaChang Zeng Fanwen said that the research center must first make great efforts to build a think tank and become a core think tank for the development of integrated media and the construction of public opinion big data. Secondly, integrate resources to become a provider of integrated media construction solutions. At the same time, the research center’s radiating and leading role will be strengthened to serve the development of integrated media in more local governments and counties.

▌Cloud Computing

◆IDC releases China cloud computing vendor share data

According to news on January 21, market research organization IDC released China’s cloud computing market share data for the first half of 2018. Public cloud vendor market share data. Data shows that Alibaba Cloud, Tencent Cloud and China Telecom rank in the top three, with 43%, 11.2% and 7.4% respectively. Alibaba Cloud's market share has reached the combined market share of the second to ninth places, accounting for half of China's cloud computing market. This is also the first year that Alibaba Cloud has ranked first in the Chinese market for three consecutive years.

◆Vista increases investment in Yijistar and deploys cloud computing

Recently, Venustech announced that in order to strengthen its development strategy in the direction of information security, it decided to transfer its wholly-owned subsidiary to Yijistar Jiesida increased its capital by 50 million yuan. EasyStar was founded in February 2014 by the OpenStack core R&D team of IBM China R&D Center to provide cloud computing products and services to enterprise-level customers. Venustech's investment in Yijiesta will, on the one hand, make use of Yijistar's accumulation in cloud and combine the company's own security capabilities to vigorously implement cloud security; on the other hand, the company's proposed Internet+ of safe independent operation and security technology , Artificial intelligence strategy and cloud computing are inseparable.

▌Network Security

◆Ireland investigates Twitter data leakage

According to news on January 26, Ireland is launching an investigation into Twitter’s data leakage. The agency was notified by Twitter that a data breach had occurred at the social media network. Article 33 of the European General Data Protection Regulation stipulates that if a personal data breach occurs, the relevant company must report it to the supervisory authority within 72 hours after learning of the situation, and clearly stipulates the data and type of information to be submitted. Violations of privacy laws may result in penalties of up to 4% of global revenue or 20 million euros, whichever is greater, while previous fines were only in the hundreds of thousands of euros.

◆The National Cyber ​​Security Industrial Park was officially unveiled

On January 21, a symposium for enterprises entering the Cyber ​​Security Industrial Park was held in Beijing. At the symposium, the National Cyber ​​Security Industrial Park was officially At the unveiling ceremony, 10 network security companies, including 360 Enterprise Security Group, signed contracts to settle in. The goal of the National Cyber ​​Security Industrial Park is to build Beijing into a leading domestic and world-class cyber security industry cluster. It is expected that by 2020, the revenue scale of enterprises in the industrial park will reach 100 billion yuan; by 2025, it will rely on the construction of industrial parksIt has become the “five bases” of my country’s network security industry.

B. A complete review of supply chain finance of 13 banks: from the five major commercial banks to city commercial banks, continuous innovation

< /p>

In the traditional business development model, banks’ supply chain finance business is highly dependent on the credit of core enterprises and is mainly based on offline models. While it consumes manpower and energy, the business also faces bottlenecks that are difficult to scale up.

In the "Steel Trade Crisis" in 2012, many steel industry suppliers used multiple pledges of goods to conduct fraudulent financing, which led to a surge in the non-performing rate of the banks involved, and has since then affected the supply chain. Chain Finance is timid.

Nowadays, the external environment of the market has quietly changed. In recent years, banks have paid more and more attention to the power of financial technology. Many banks have established directly affiliated financial technology companies, with increasingly mature intelligent warehousing and monitoring, electronic contract signing, New technologies such as blockchain are also gradually being applied to supply chain financial services, and banks' past weaknesses in risk control are being increasingly eliminated.

Coupled with the country’s strong policy support for supply chain finance business and the huge market financing gap in accounts receivable of domestic small and medium-sized enterprises, it is imperative for banks to “return to the battlefield of supply chain finance”. The new business model supported by online Internet, blockchain and other technologies is becoming a breakthrough tool for supply chain financial business.

So what are the specific changes in the layout of supply chain finance among banks today? Based on the annual report data released by various banks in 2018, Zhixin has summarized the industry development profiles of 5 large commercial banks, 4 representative joint-stock banks, two city commercial banks, and e-commerce private banks as follows:

▌ Industrial and Commercial Bank of China

The new changes in ICBC’s supply chain finance business are mainly reflected in its online small and micro financial service platform. There are three main products: “Online Loans” and “Online Supply Chain Financing”. ICBC also cooperated with the platform party China Enterprise Cloud Chain to innovate core digital accounts receivable confirmation credentials that can be transferred to multiple levels, further extending the credit of core enterprises to small and micro enterprises at the end of the supply chain.

In the first nine months of 2018 alone, ICBC has provided a total of more than 45 billion yuan in online supply chain financing to 1,300 upstream and downstream customers. As of the end of 2018, ICBC's total loans to small and micro enterprises reached 321.685 billion yuan, a year-on-year increase of 18.1%. The number of small and micro financial business centers also reached 258, comprehensively promoting the implementation of supply chain finance business.

▌Agricultural Bank of China

The Agricultural Bank of China’s efforts in supply chain finance are first reflected in system construction. In 2018, the Agricultural Bank of China Head Office established the “Inclusive Finance Division + Eight Backstage Centers” With a departmental structure, 37 first-tier branches and key second-tier branches have established inclusive finance divisions, forming the “Three Rural Areas + Small Businesses”An inclusive financial service system driven by "micro" dual-wheel drive.

In terms of specific business promotion, the Agricultural Bank of China mainly provides full online financing to upstream and downstream small and micro customers of core enterprises through the development of "data online lending" business. Services. As of the end of 2018, Agricultural Bank of China has issued 23,000 loans to upstream and downstream small and micro enterprises of many core enterprises, with a total amount of 9.1 billion yuan. Recently, Agricultural Bank of China has also cooperated with the platform party China Enterprise Yunyun Chain to launch new supply chain products "Factoring e-financing" provides financing to suppliers at all levels upstream and downstream of core enterprises.

▌Bank of China

Relying on its advantages in international trade finance, Bank of China as early as 2007 In 2009, the product "Rongyida" based on supply chain financing was launched. In 2009, a supply chain team was established and officially launched supply chain finance. During the seven-year period from 2009 to 2014, the amount of its supply chain finance business increased from 74 billion to 74 billion. yuan exceeded 1 trillion yuan, with an average annual compound growth rate of 68%. At the end of 2011, Bank of China implemented the first online supply chain finance project by directly connecting the order information of platform financiers to the Bank of China system through "bank-enterprise docking" Since then, more than 300 companies such as JD.com and Suning have been expanded through this method, and more than 10 billion yuan of online financing has been issued.

The Bank of China's 2018 annual report also showed that it is participating in the "Blockchain Benefit" The construction and commissioning of "Block Chain Forfeiting Trading Platform" and "Digital Bill Trading Platform" will continue to expand the supply chain financial business in the direction of "electronization" + "globalization" in the future. As of the end of 2018, its inclusive The balance of financial small and micro enterprise loans was 304.2 billion yuan, an increase of 12.26% from the end of the previous year.

▌China Construction Bank

China Construction Bank proposed a three-year strategic plan for the development of inclusive finance in 2018 , and in terms of organizational construction, it has achieved full coverage of the first and second tier branches of the Inclusive Finance Division, and has established a total of 288 small business centers.

Specifically at the business level, CCB focuses on corporate procurement , manufacturing, sales to the end-user information flow, logistics and capital flow "three-stream" operation, designed and developed more than ten supply chain financing including accounts receivable financing, gold and silver warehouse, chattel pledge financing, order financing, chattel pledge financing, etc. Products. In business acceptance, CCB focuses on the real transaction background of the business, the high degree of embedding of products with corporate information flow, logistics and capital flow, and the need to provide structured and combined services. As of the end of 2018, CCB has provided a total of 33,000 Enterprises issued 538.5 billion yuan of online supply chain financing, and the number of online supply chain cooperation platforms reached 1,184. The balance of loans in the inclusive finance field was 631.017 billion yuan, an increase of 212.515 billion yuan from the previous year.

▌Bank of Communications

Bank of Communications carries out supply chain finance business mainly through the "Yuntong Supply Chain" platform, and mainly focuses on automobiles and otherAs a core enterprise in the industry, Bank of Communications has launched products such as “Quick and Easy Post”, “Quick and Easy to Collect” and “Quick and Easy to Pay” by cooperating with large domestic logistics companies on pledge supervision and cooperating with insurance companies on credit insurance. Created a series of supply chain financing products of "Yuntong e-Chain".

As of the end of 2018, the Bank of Communications has expanded its domestic industrial chain network to more than 3,000 companies, and the financing balance of industrial chain financial products exceeded RMB 110 billion, an increase of 22.42% from the end of the previous year. The Bank’s blockchain technology has already In the field of automotive Internet of Things finance, the accounts receivable chain business is also advancing rapidly.

▌Ping An Bank

Ping An Bank (formerly Shenzhen Development Bank) is the first commercial bank in China to get involved in and advocate the development of supply chain finance business. In 2002, Shenzhen Development Bank became the first systemic bank in China. A bank that proposes and promotes supply chain finance and trade finance product portfolios. In 2005 alone, Shenzhen Development Bank's "1+N" supply chain finance model created a credit line of 250 billion yuan, and the non-performing loan rate that year was only 0.57%.

In the online layout, for core enterprises in the industry chain and their upstream customers, Ping An Bank launched the Supply Chain Accounts Receivable Service Platform (SAS Platform) in 2018 to provide online transfer of accounts receivable. , financing, management, settlement and other comprehensive financial services. The SAS platform comprehensively applies core technologies such as "Ping An Blockchain" and "Artificial Intelligence + Big Data" to implement intelligent verification and continuous monitoring of the authenticity of trade backgrounds. As of the end of 2018, the cumulative transaction volume of Ping An Bank's SAS platform has exceeded 10 billion yuan, providing services to 111 core enterprises and their upstream small, medium and micro enterprises.

▌ Shanghai Pudong Development Bank

Shanghai Pudong Development Bank first launched the "Enterprise Supply Chain Financing Solution" in 2007 to provide core enterprises with credit services, procurement services, inventory turnover, account collection, etc. Financing support. Since 2011, Shanghai Pudong Development Bank has been committed to building a unique supply chain financial platform, and has cooperated with many core enterprises and logistics companies such as China Mobile, Shenlong Automobile, and COSCO Logistics to achieve the integration of information flow, logistics and capital flow.

In terms of online layout, Shanghai Pudong Development Bank has launched products such as “Jingpu e-Account” and “Jingpu e-Commerce Loan” to acquire customers in batches from core asset-side enterprises and provide them online. In the field of chain finance, innovative products such as "Government Procurement e-Loan" and "Bill Pool Instant Loan" have been launched, as well as products such as cloud fund supervision and e-enterprise banking comprehensive service platform. As of the end of 2018, Shanghai Pudong Development Bank served more than 31,300 technology-based corporate customers in the supply chain field, promoted 20 automotive supply chains, and served 864 upstream and downstream customers in the automotive industry.

▌ China CITIC Bank

China CITIC Bank’s supply chain finance business is mainly promoted by building three major platforms, four major value-added chains and five major characteristic networks.. The three major platforms include logistics financing platform, peer cooperation platform and government support platform. The four major value-added chains include the creation of accounts receivable value-added chain, prepaid accounts value-added chain, logistics service value-added chain and electronic service value-added chain. The five major characteristic networks are automobile finance. Internet, steel financial network, home appliance financial network, telecommunications financial network and petrochemical financial network, etc.

China CITIC Bank also successfully launched a full-process online supply chain finance platform innovative product "Chinese e-Chain - Payment and Circulation Integration" in October 2018, integrating CITIC Bank's business system with the core enterprise's supply chain finance platform Docking, with the help of multi-level circulation of standardized electronic "payment vouchers", it provides full-process, online financing to its upstream N-level suppliers. In 2018, CITIC Bank also launched the country's first blockchain forfaiting trading system and released a "blockchain + supply chain" pilot innovation project. As of the end of 2018, the business volume on its chain exceeded 10 billion yuan.

▌Zheshang Bank

Supply chain finance is an important strategic task for Zheshang Bank’s current development. Zheshang Bank began to study the application of blockchain technology in 2016 and launched it in 2017. In August, it took the lead in putting into production the receivables chain platform developed based on blockchain technology. Focusing on supply chain finance, Zhejiang merchants innovate "pooling" and "online" financing business models, and continue to focus on the three pools (Yongjin bill pool, Yongjin asset pool, and Yongjin export pool). Business platform for business development.

The first is the pool financing platform. In 2018, it signed contracts with 22,290 customers, a year-on-year increase of 43.58%. The asset balance in the pool was 350.679 billion yuan, and the cumulative number of accounts receivable entered into the pool was 100,800. The amount is approximately 72.9 billion yuan. The specific product "Zhizhendai" signed contracts with 1,645 customers in 2018, a year-on-year increase of 26.25%, and the financing balance was 50.125 billion yuan, a year-on-year increase of 44.68%.

The second is the Yiqiyin platform for core corporate financial services. In 2018, a total of 234 Yiqiyin platforms were launched, an increase of 172.09% from the end of the previous year. The platform’s cumulative financing was 36.785 billion yuan, an increase of 485.28% from the end of the previous year. %.

The third is the accounts receivable chain platform. By the end of 2018, Zheshang Bank had launched 1,410 accounts receivable chain platforms, a year-on-year increase of nearly 12 times, and the cumulative issuance amount was 122.878 billion yuan, a year-on-year increase of nearly 4 times.

▌Shanghai Bank

The Bank of Shanghai released the "Uplink e-Chain" online supply chain financial service platform in October 2018, and established a new supply chain finance department in April this year. , expand and cover the business model to all aspects of core enterprise procurement, production, sales, etc., and at the same time use big data to start building the enterprise's credit model.

"Upstream e-Chain" takes the online supply chain financial service platform as the core and covers a total of 15 products in 3 categories. By co-building a platform with core enterprises to share data, it can master the required information flow and resources.Financial flow and logistics form closed-loop management. At the same time, Bank of Shanghai cooperates with Jiangsu Runhe Software to introduce blockchain technology to realize the divisible and combinable payment of core enterprise credit, thereby extending the credit of core enterprises to second-, third- and fourth-tier suppliers. In 2018, the Bank of Shanghai realized supply chain finance loans of 52.487 billion yuan, a year-on-year increase of 117.22%. At the 2018 Bank of Shanghai Annual Meeting, this figure is expected to increase to 100 billion yuan by 2020.

▌Bank of Beijing

Bank of Beijing plans to provide "e-commerce and finance" comprehensive service solutions for the trading market. With the help of the credit of the commodity trading platform, it provides full-process financial services to platform traders. Create an innovative online business model of "supply chain finance + capital depository". At the specific product level, the online supply chain product of "Jingxin Chain" was launched to extend the credit of core enterprises to upstream multi-level suppliers and realize the split and transfer of accounts receivable claims. As of the end of 2018, the balance of Bank of Beijing's small and micro enterprise loans was 425.6 billion yuan, a year-on-year increase of 19%.

In addition, other e-commerce private banks such as WeBank, Suning Bank, MYBank, etc. have also made plans in supply chain finance business. WeBank is currently expanding its supply chain finance business based on blockchain technology. In addition to its own way of expanding core enterprises, WeBank has also proposed a "bank-bank cooperation" model in which WeBank provides grassroots technology and cooperates with city commercial banks to develop business.

Suning Bank successfully launched the domestic letter of credit information transmission system (BCLC system) based on blockchain in September 2017, and pioneered the "Internet of Things + Blockchain" movable asset in September 2018. Pledge financing was the first of its kind. Based on the coal inventory of a certain company, Suning Bank gave the financier a credit line for movable property pledge and successfully realized the loan. At the same time, its blockchain + Internet of Things automobile and finance platform, and blockchain + Internet of Things 3C commodity supervision platform have also been put on the release schedule.

As banks continue to deepen their development in supply chain finance business, this business will not only serve the real economy, but also bring new profit growth points to the business side, and the addition of financial technology technology. It will also continue to promote the update and evolution of market business models and form a virtuous business ecological cycle.

C. What does Bank of China’s forfaiting mean?

Public forfaiting refers to Bank of China’s purchase of goods, services or asset transactions without recourse. Undue claims are generated, which are usually accepted/honored/guaranteed by financial institutions.

If you have any questions, you are welcome to consult Bank of China’s online customer service or download and use Bank of China’s mobile banking APP to consult and handle related services.

The above content is for your reference only, please refer to the actual business regulations.

D. Re-understand the blockchain: Enlightenments brought by more than 1,550 application cases

Author: Ran Wei

(This article is excerpted from the "2021 Global Blockchain Application Market Report")

When we talk about blockchain, anyone who knows something about blockchain can discuss related topics. More or less express some of your own opinions. For example: from the perspective of technical system, blockchain is a new application of computer technology such as distributed data storage, point-to-point transmission, consensus mechanism, encryption algorithm; from the perspective of functional attributes, blockchain is decentralized, non-tamperable, and full-process. Features such as leaving traces, traceability, collective maintenance, openness and transparency.

Looking back at the history of blockchain, there is no way around Bitcoin. On January 3, 2009, the Bitcoin genesis block with serial number 0 was born. A few days later, on January 9, 2009, Bitcoin block number 1 was born. When two blocks are connected, the blockchain is "born."

The inventor of Bitcoin, who goes by the pseudonym "Satoshi Nakamoto", may find it difficult to imagine: In the past 12 years, with Bitcoin as the center, a huge "cryptocurrency family" has spread all over the world. The financial market set off a "big wave" that continues to this day. During this period, innovation and risks related to cryptocurrency are intertwined, progress and bubbles coexist, and pursuit and criticism coexist, and it drives government departments of various countries to continuously improve the monetary and financial systems, social governance and supervision systems.

At the same time, the blockchain that accompanies Bitcoin is also evolving rapidly, and has long gone beyond the scope of "Bitcoin's underlying technology" and has been applied to every corner of social and economic development.

So, what mechanism does blockchain work through? What are its advantages compared to traditional technologies and models? What is its application effect? In the "2021 Global Blockchain Application Market Report" jointly released by Capital Lab and Yuanwang Think Tank, we tried to provide a certain basis for the above issues through research on more than 1,550 application cases around the world in 2020 and the first quarter of 2021. Empirical answer. At the same time, based on the study of these cases, we can establish a new understanding of blockchain: blockchain is trust, blockchain is sharing, blockchain is transaction, blockchain is substitution, and blockchain is efficiency.

In the Bitcoin creation paper "Bitcoin: A Peer-to-Peer Electronic Currency System", "Satoshi Nakamoto" repeatedly emphasized that Bitcoin has the characteristics of not relying on a "trusted third party". That is the characteristic of “decentralization”.

On the other hand, the underlying technology of Bitcoin, the blockchain, is precisely designed for "trust." In other words, reshaping "trust" in the digital age is the most basic function of the blockchain, but this trust has been transformed from trust between people and legal entities to trust between machines and machines. Trust between blocks and between nodes. Interestingly, the subsequent “smart contract” function was developed through the use of blockchainIntegration further strengthens this trust.

Identity coding and authentication are the first steps to achieve the above-mentioned trust mechanism, and the distributed identity (Decentralized Identity, DID) system is the core of it. With DID applications, everyone from individuals to organizations to IoT devices, from physical items to virtual products, can be given digital "identities" and achieve trusted interactions. It is precisely because of this that blockchain-based certificate storage, empowerment, verification, circulation, and transactions can be realized, and only then can blockchain be implemented in various industries.

Application cases from around the world show that new trust mechanisms provide new rules and motivation for social and economic operations:

l China is comprehensively promoting blockchain electronic certificates Applications such as "one fish, one code", "one fruit, one code", "one tea, one code" and other applications are driving the global Anti-counterfeiting traceability of agricultural products and upgrading of food safety systems;

l Through the combination of blockchain, big data, and artificial intelligence, the credit "portrait" of an enterprise is more accurate and can be obtained faster and more accurately. Lower-cost financing services;

l Charitable charity organizations have put charity funds "on the chain" to form a more transparent and standardized charity tracking and management system;

l Relevant cities in China have launched a blockchain-based gas cylinder product traceability management system, and the credibility of the source of gas cylinder file information and the level of gas cylinder safety management have been greatly improved;

l Germany is developing its distributed energy resources Assets establishes a digital registration system based on identity authentication to promote the development and trading of renewable energy and cope with the arrival of the digital energy era...

Among the three types of blockchains (public chain, alliance chain, private chain), alliance chain has been the most widely used. In addition to considerations of technical performance, operational efficiency, operability, expected results, etc., this is mainly because all parties in the alliance already have a certain foundation of trust. This also shows from another perspective that in blockchain applications beyond cryptocurrencies such as Bitcoin, "multi-centralization" rather than complete "decentralization" is a more realistic option.

In addition, it is undeniable that unlike the proof-of-work mechanism that Bitcoin “mining” relies on, the blockchain cannot completely ensure the integrity of the on-chain data from the source in the actual application process. Authenticity. In other words, a certain alliance member or node may provide false data intentionally or unintentionally. However, with the help of blockchain's non-tampering, traceability, multi-party consensus and other characteristics, the alliance can identify counterfeiting behavior and impose corresponding punishments, such as "kicking" the counterfeiting members from the nodes. So, in a sense, blockchain-based trust is largely built onAlliance members are in awe of the authenticity of data and are horrified by data fraud.

If "trust" is the foundation of blockchain applications, data sharing is the core of blockchain applications. Without data sharing, there will be no cooperation, and the practical application of blockchain will be impossible.

l The State Administration of Foreign Exchange's "Cross-border Financial Blockchain Service Platform" pilot has been fully launched, promoting foreign trade exports through information exchange between foreign exchange bureaus, taxation, banks and enterprise-related market entities. Business development;

l The "Insurance/Claims Alliance Chain" jointly established by 11 insurance companies in Taiwan has been put into operation, and each company has achieved "single application and common documents" on this platform;

l Blockchain platforms such as Contour and TradeLens are reshaping the global supply chain and providing impetus for the digital transformation of international trade through data collaboration among enterprises, financial institutions, shipping companies, terminals, customs and other institutions... .

l In China, through data collaboration, various government departments have realized "one data, one source, one source for multiple uses, one network, and full network operation";

l Through The "Judicial Chain" platform enables all types of electronic evidence to be seamlessly connected with judicial institutions such as notarization, arbitration, judicial appraisal, and courts, which improves the efficiency of the judicial system while reducing costs;

l Targeting grassroots nationwide The court's "cross-domain collaboration mechanism for trial auxiliary matters" can realize "cross-domain service and cross-domain evidence collection" between courts in different regions, effectively improving the efficiency of trial auxiliary matters and trial quality and efficiency, and reducing judicial operation costs... ….

l China's "Guangdong-Hong Kong-Macao Greater Bay Area Combination Port" project was officially launched, which can support the interconnection and interoperability of trade parties among the five major customs jurisdictions of the Greater Bay Area and become the first connected port in the Greater Bay Area , customs, logistics, enterprise, finance and other trade processes, interconnected and shared blockchain network;

l Japan's KDDI Telecom, Hitachi, Kansai Electric Power, Sekisui Construction and other large enterprises have established blocks Chain Alliance NEXCHAIN ​​to form a cross-industry real estate information sharing and management model and promote cross-industry innovation;

l The French Renault Group completed the test of its blockchain project "XCEED" for zero Sharing compliance information between component suppliers and automakers and simplifying compliance certification….

Although the above application cases in finance, government affairs and various industries are only a few typical cases, they are enough to illustrate that: on the one hand, data sharing is an inherent requirement of blockchain applications. In terms of specific implementation, everything must start from breaking "data islands" and "information asymmetry"; on the other hand, the application practice of blockchain has in turn promoted cross-level, cross-department, cross-industry, cross-region, and cross- national boundariesdata sharing and unprecedented collaboration.

It can also be seen from the above cases that based on the transparency, security, trustworthiness and other characteristics of the blockchain, data sharing allows cooperation that originally seemed impossible to be achieved, and more Open innovation results; data sharing can effectively improve the operating efficiency of business systems, financial systems and social governance systems; various organizations promote their own organizational changes and process changes while sharing and cooperating with external institutions.

Based on trust and sharing, "transaction" is the most intuitive and deepest manifestation of the value of blockchain applications. Currently, blockchain is opening a new chapter in the transformation of transaction models in various industries around the world.

From a functional architecture point of view, blockchain-based transactions are by no means just a change in the transaction process, but integrate the unique functions of the blockchain, which are the key to anti-counterfeiting traceability, supply and demand docking, and warehousing. Integrated integration of blockchain applications such as logistics, payment/settlement, supply chain financing, insurance, and network security.

From the perspective of application form, blockchain-based transactions transcend the traditional concept of product or service transactions and represent the realization of the value of a wider range of data in circulation.

From the perspective of application scenarios, transactions based on blockchain involve the upgrading of the physical industry, the digital advancement of the financial industry, and the innovative application of the "token economy".

In the physical industry, take the application of agricultural blockchain as an example: on the one hand, supply chain traceability based on blockchain has become an important barrier to food safety; but on the other hand, for growers or For farmers, the supply chain traceability function is far from enough. How to help them expand the sales of agricultural products and obtain more income as much as possible is the "hard truth" for blockchain technology to continue to promote agricultural development. In other industries, the same applies.

Against the above background, new trading platforms in the global physical industry continue to emerge:

l The Indian government uses blockchain platforms to help farmers in remote areas sell agricultural products to reduce the While eliminating intermediate fees, obtain higher income;

l The Swiss company Cerealia builds a blockchain-based agricultural product trading and financing platform to promote the export of agricultural products in emerging market countries around the world;

l The world's largest independent refined sugar producer, Al Khaleej Sugar Company of the United Arab Emirates, launched DigitalSugar.io, a blockchain-based sugar product trading platform, to realize spot-based international raw sugar trading;

l Ganzhou, Jiangxi Province, has launched an international timber electronic trading platform based on blockchain, which will manage the entire timber transaction process on the chain, and will provide the timber market with full industry chain services such as cloud warehouse supervision, logistics, finance, and insurance;
< br /> l Shandong Province has launched the Shandong Internet Traditional Chinese Medicine Trading Platform, which will realize online integrated services of quality control, trading, payment, settlement and supervision through blockchain and other technologies;

l Wei, Xiangcheng District, Suzhou Tangzhen has released a blockchain-based pearl online trading platform, which will store the core parameters and test reports of pearls on the chain, and will also add functions such as supply chain management, trade finance, smart contracts, payment settlement, and incentive mechanisms;

l Honeywell launched GoDirect Trade, an online trading platform for new and second-hand aircraft parts, providing a valuable reference for large manufacturers on how to apply blockchain to parts trading and circulation...

In the financial industry, blockchain is promoting the digital advancement of financial transaction business in aspects such as securities trading, asset securitization, trade financing, and cross-border settlement:

l The Australian National Stock Exchange has launched ClearPay, a digital securities trading platform based on distributed ledger technology, which can provide multi-currency, real-time DVP settlement on the same day and will replace the original exchange settlement system;

l Switzerland The company Finka has launched a related securitization token investment platform based on livestock from organic pastures in Bolivia to promote the development of the local livestock industry;

l The American company Securitize has established a Japanese real estate investment platform based on digital securities , aiming to revitalize idle real estate in rural Japan and enhance the vitality of the rural economy;

l China Postal Savings Bank and China Construction Bank completed the first cross-blockchain platform forfaiting transaction, Hua Xia Bank Kunming Branch’s first Realize forfaiting resale business in the secondary market;

l Nanjing Iron and Steel completed blockchain-based iron ore transactions with Rio Tinto of Australia and Vale of Brazil respectively;
< br /> l Baosteel Co., Ltd. and Australia's Rio Tinto completed the first blockchain-based RMB cross-border settlement transaction...

Of course, while blockchain promotes the advancement of financial transaction business, dark sides such as hype, scams, money laundering, and cyber attacks related to blockchain and cryptocurrency continue to follow. How to continue to promote financial innovation while also carrying out efficient risk prevention and control and effectively cracking down on illegal crimes is an important issue that requires long-term response. From a global perspective, China has responded with clear attitudes, strict measures, and effective measures in this regard.

The transaction changes realized by the blockchain in the real industry and financial industry are only the initial stage of the blockchain changing the traditional transaction method. The "Token Economy" is the blockchain "transaction" A higher level of functionality.

Under the framework of “token economy”, from electronic certificates to skillsProof, from credit records to public welfare activity participation records, from social media tracks to carbon emission reduction actions, when various data become encrypted digital proof of rights and interests, and can be circulated and exchanged, they are given a "token" Function.

Regardless of the investment/speculation craze of "Non-Fungible Token (NFT)", we can already see many early applications of "token economy" around the world:

l The HotCity project supported by the Austrian government uses a crowdsourcing model combined with blockchain and gamification tokens to encourage residents to submit heating waste heat hotspots to meet urban heating needs more efficiently;< br />
l Ford establishes "Green Miles" for commercial and municipal fleets using hybrid vehicles to help improve urban air quality;

l Weibin District, Xinxiang City, Henan Province, in its In the blockchain industrial park project, tokens are issued based on the points system for merchants and enterprises to establish a new commercial service platform;

l Chengdu released a blockchain-based community governance product "Chain Dynamic Community", Residents can earn "time bank" points on the platform through volunteer services and other activities, and exchange them for benefits and discounts provided by community merchants;

l Global non-profit organization "Mobile Open Blockchain Plan" The Electric Vehicle Charging Network Working Group (EVGI) launches a global standard system for decentralized vehicle charging technology, covering the Tokenized Carbon Credit (TCC) scenario;

l Blockchain reward platform MiL. k cooperates with a Korean retailer to provide blockchain-based points management services to its members. Members can convert existing points into local MLK tokens through the MiL.k platform, or exchange them into other third-party points...

As can be seen from the above cases and more, the "token economy" has several distinctive features:

The "token economy" gives assets to a wider range of data Attributes and tradable attributes, and through cross-domain and cross-platform mutual trust and circulation, can improve the operating efficiency of the entire social and economic system;

"Token economy" is a new value creation and The realization process does not necessarily use currency directly as the medium of exchange, but is more reflected in the exchange, mutual benefit and reallocation of various elements and resources;

"Token economy" is often combined with incentive mechanisms. At the same time, through incentives for "good people and good deeds", "good companies" and "good institutions", the social value system and social credit system will be effectively reshaped.

Generally speaking, the "token economy" will spawn new production factors, reshape production relations, and greatly liberate social productivity; the "token economy" representsIt has evolved from the "Information Internet" to the "Value Internet" and heralded the most exciting future of the digital economy; the "Token Economy" based on the blockchain has begun to take shape, and has begun to influence economic operations, social governance, and everyone. The way one lives his or her life brings about lasting visible change. All types of institutions and individuals should be mentally and physically prepared for this change.

Like other new technologies, in the process of application and popularization, blockchain continues to produce substitution effects in terms of platforms, media, models, methods, etc.: physical documents are replaced by electronic documents, and credit records are replaced by electronic documents. Passes are replaced, manual review is replaced by data verification, and the city management platform is replaced by the "city brain"...

Such substitutions have become the norm:

l Argentina’s central bank has begun a proof-of-concept for a new blockchain clearing system, which may replace the existing clearing system;< br />
l Korea Minting and Security Printing Corporation (KOMSCO) expanded its blockchain digital gift certificate business to replace paper gift certificates and achieved record revenue despite a sharp decline in the issuance of banknotes and coins. Improvement;

l Courts across China have begun to use blockchain electronic seals to replace traditional paper seals in the enforcement of real estate seizures;

l The Shanghai court system is using artificial intelligence , the adoption of new technologies such as blockchain, and explore the use of digital court trial records to replace manual court trial transcripts;

l The Japanese company SUSMED launched a "Clinical Data Monitoring System Demonstration Using Blockchain Technology" pilot, indicating that the drug Or the necessary monitoring process in clinical trials of medical equipment can be replaced by a blockchain system;

l Alipay and Wukong Car Rental have cooperated to launch a "face-swiping" car rental service, which uses blockchain technology and credit-free security mode, tourists can rent a car by simply "swiping their face" and return the vehicle through mobile phone operations;

l Under the new crown epidemic, local governments in China have intensively launched "non-face-to-face" vehicles that combine blockchain technology ", no contact, zero errands" government service has replaced the traditional offline service method, providing a strong guarantee for the smooth progress of remote bidding, "cloud" customs clearance, financial support, resumption of work and production, etc. during the epidemic... .

In addition, we can also see that through the use of blockchain technology, various enterprise-level services are also realizing substitution and evolution: from paper contracts to electronic contracts, to program-based, Blockchain contracts that can automatically execute smart contracts. Blockchain is pushing contract signing into the era of "chain signing"; from offline human resources companies to online human resources platforms to the blockchain-based human resources market , global human resources services have experienced continuous changes from the 1.0 era to the 2.0 era, and then to the 3.0 era.

Generally speaking, when the blockchain "invades" various industries, it will "mercilessly" delete all unnecessary links and processes, all unnecessary manual operations, and accelerate the embrace of paperlessness. , The arrival of the era of unmanned and automation.

In the process of our analysis of more than 1,550 blockchain application cases around the world, words like "improve", "accelerate", "shorten", "lower", "reduce", "save", " Words such as "save" appear frequently in front of our eyes. These words show that the improvement of efficiency is the common pursuit of all parties involved in blockchain applications and is also the most direct result of the substitution effect of blockchain.

Numerous application practices are contributing to this:

l Kenyan company Shamba Records provides blockchain traceability, transaction and financing services to farmers in the country, currently covering more than 6,000 Small farmers and helped them increase their income by at least 40%;

l TradeWaltz, a blockchain trading platform invested by NTT DATA, Mitsubishi and other companies, completed a trial run, and the results showed that the platform can reduce traditional 50% of the workload of the trade process;

l Walmart Canada has significantly reduced invoice disputes with carriers by 97% through the application of the DL Freight blockchain platform;

l The State Grid Corporation of China’s power transaction certificate traceability inquiry platform was put into operation, automating the entire authenticity review process for registered users and saving 99% of the trustworthy manual review time;

l COSCO Shipping Lines and Shandong Port Group Qingdao Port have cooperated to launch a blockchain paperless import and delivery model, which can save customers nearly 24 hours on average per container;

l Taizhou, Zhejiang uses "materials" The "Internet + Blockchain" recycling system solves the problem of marine pollution control. Compared with traditional processing methods, this recycling system can save 94% of labor costs and 84% of operating costs...

In summary, through the joint action of trust mechanism, sharing mechanism and transaction mechanism, blockchain has formed an obvious substitution effect, improved the operational efficiency of finance, government affairs and various industries, and will Continue to create systemic change. This change is reshaping the relationship between people and machines, people and society, and people and the environment, and clearly points to three ultimate goals: efficiency, well-being, and environmental protection.

E. Which bank is TRCKCHZZ?

This one belongs to China Everbright Bank.

F. I would like to know more about Bank of China's public welfare services

Product introduction refers to the bank's non-recourse purchase of undue claims arising from goods, services or asset transactions. , the claim is usually accepted/honored/guaranteed by a financial institution. The market operation of forfaiting business is divided into primary market and secondary market.level market. Primary market business refers to banks purchasing undue claims directly from exporters without recourse; secondary market business refers to the trading of undue claims among banks (or forfaiting merchants). To apply for forfaiting, you can either hold the bought-out creditor's rights until the maturity date, or you can apply for forfaiting based on the country risk and credit status of the accepting/accepting/guaranteed bank, market changes, our bank's credit limit and risk policy, etc. , resell undue claims in the secondary market. Including outright sale in the form of public resale or risk participation. Public resale is when our bank (selling bank) transfers undue claims to other banks/forfaiting dealers (buying banks) without recourse, and the buying bank becomes the holder of undue claims and pays the Our bank pays the financing amount. Risk participation means that our bank (risk transferor) transfers all or part of the risks of undue claims held to other banks/forfaiting merchants (risk participants) in accordance with the agreed proportions and conditions. According to whether the risk participants are financing, they are divided into financing risk participation and non-financing risk participation. Funded Risk Participation means that risk participants pay the discounted amount of their participation shares to the risk transferor. After the risk transferor recovers the money on the maturity date of the creditor's rights, it pays the risk participants in proportion to their participation. Get a share. If the debtor or the acceptance/promising/guaranteed bank fails to pay after the creditor's rights expire, the risk participant has no recourse against the risk transferor, but the risk transferor should promptly notify the risk participant of the non-receipt of foreign exchange. Usually, according to the agreement, the risk transferor needs to cooperate with the risk participants to pursue payment or legal proceedings from the debtor or acceptance/promising/guaranteed bank according to the requirements of the risk participants. Unfunded Risk Participation refers to the risk participant's promise that if the debtor or the acceptance/promise/guarantee bank fails to perform its payment obligations when due, the risk participant will pay the creditor's rights to the risk transferor in proportion to the risk involved. Risk participants do not provide advance discounts to risk transferors. The risk transferor shall promptly notify the risk participants of the uncollected foreign exchange when due. A non-financed risk participation is similar to a payment guarantee. The above content is for your reference. For the latest business changes, please refer to the official website of Bank of China. If you have any questions, you are welcome to consult Bank of China’s online customer service or download and use Bank of China’s mobile banking APP to consult and handle related services.