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㈠ The digital RMB camp is expanding again! These 19 banks can recharge wallets

As of August 17, the number of operating institutions available for digital RMB wallets has expanded to 19.

Previously, some people in the industry speculated that the City Bank Clearing Service Co., Ltd. (hereinafter referred to as "City Bank Clearing") and the Rural Credit Bank Fund Clearing Center (hereinafter referred to as the Rural Credit Bank Fund Clearing Center) were behind the participation of small and medium-sized banks in the operation of digital renminbi. "Rural Credit Bank Center") to improve the efficiency of digital RMB issuance.

“With this in-depth cooperation with city commercial banks and rural credit banks, it will help further optimize the issuance and clearing efficiency of digital renminbi in various regions, and have a profound impact on the process of financial inclusion in rural areas. ." An industry expert told reporters.

When opening the digital RMB wallet APP, users can choose two recharge methods. The first way is to recharge your wallet through the mobile banking APP. After clicking "Select Bank", 19 banks will appear to choose from, including the six major banks and joint-stock banks such as China Merchants Bank, Ping An Bank, Shanghai Pudong Development Bank, China Guangfa Bank, and China CITIC Bank. There are also City commercial banks such as Bank of Jiangsu, Bank of Nanjing, Bank of Suzhou, Bank of Changsha, and Luzhou Bank. After selecting a bank, you will be redirected to the mobile banking APP and the quick recharge page will appear. The second way is to recharge through a provincial wallet and bind a bank card, which requires real-name authentication and ID card information verification.

It is understood that City Bank Clearing has built a “one-point access” digital RMB system and assisted in organizing the first batch of 11 pilot city commercial banks to complete the development and testing of the in-bank system. Taking the Bank of Nanjing as an example, after accessing the digital renminbi interconnection platform, it supports digital renminbi wallet card binding, redemption, redemption and other transactions.

In the future, City Bank Clearing will continue to organize Bank of Shanghai, Bank of Jiangsu, Bank of Hangzhou, Bank of Ningbo, Bank of Luzhou, Bank of Chongqing, Bank of Qingdao, and Xi'an under the arrangement of the Digital Currency Research Institute of the People's Bank of China. Bank of China, Changsha Bank, Huarong Xiangjiang Bank and other first batch of pilot city commercial banks have completed the access and online operation.

City Bank Clearing revealed that as of August 12, 2021, 24 city commercial banks have been confirmed to have access to the digital RMB interconnection platform through City Bank Clearing. Another 94 banks, including 76 city commercial banks, 15 private banks and 3 foreign banks, are interested in accessing the digital RMB interconnection platform through city bank clearing.

At the same time, Hebei Rural Credit Bank customers completed the production verification of the first digital RMB exchange business through the digital RMB APP, marking the official launch of the Rural Credit Bank Center’s “one-point access” digital RMB system, and further indicating that The pilot work on the application of digital renminbi in rural areas has achieved important phased results.

The Rural Credit Bank Center revealed that in the future, it will make every effort to promote the first batch of six other member units, including Jiangsu Province.Jiangsu Rural Credit Union, Sichuan Rural Credit Union, Shenzhen Rural Commercial Bank, Suzhou Rural Commercial Bank, Chengdu Rural Commercial Bank and Suzhou Bank successfully completed the business launch, and orderly promoted the "one-point access" digital RMB system for member units in other pilot areas, laying the foundation for steady progress. The pilot application of digital renminbi in rural areas will make greater contributions to promoting inclusive finance and assisting rural revitalization.

Some people point out that urban bank clearing and rural credit banking centers can be compared to "distributors" for small and medium-sized banks to access digital renminbi. In this regard, Chen Xiaohua, chairman of the China Mobile Communications Federation’s Blockchain Professional Committee and chief digital economist, explained to the International Finance News reporter that the two have specializations in opening up channels for small and medium-sized banks and rural financial institutions respectively. Provide more convenient and low-cost services to the public.

The responsibility of City Bank Clearing is to provide a wide range of financial infrastructure services for small and medium-sized banking financial institutions, including "one-point access" services, clearing services, etc. Access to the digital RMB system will help all parties The financial infrastructure served by urban small and medium-sized financial institutions has been further optimized to provide the public with lower-cost and more efficient currency clearing services.

Chen Xiaohua further pointed out: "For Rural Credit Bank, rural finance has always been a relatively weak link in the entire financial system, and it is also an important breakthrough for the implementation of the rural revitalization strategy proposed by the 19th National Congress. Rural Credit Bank this time Access to the digital RMB system will undoubtedly improve the quality of peripheral financial services and reduce the cost of financial resource allocation through rural small and medium-sized banking financial institutions."

Chen Xiaohua said that as more and more institutions access the digital RMB reflects that the implementation process of digital RMB is gradually accelerating. With this in-depth cooperation with city commercial banks and Rural Credit Bank, it will help further optimize the issuance and clearing efficiency of digital RMB in various regions, and improve financial inclusion in rural areas. process has a profound impact.

Reporter | Cao Yunyi

㈡ What is the use of digital renminbi

What is the use of digital renminbi

What is the use of digital renminbi, since After the concept of digital renminbi was launched, it has attracted great attention from the general public. Digital renminbi is a new encrypted electronic currency launched by the People's Bank of China. What are the uses of digital renminbi?

What are the uses of digital renminbi 1

In the past two years, the development and piloting of digital renminbi have made rapid progress. According to data from the "White Paper on the Research and Development Progress of China's Digital RMB" released by the People's Bank of China on July 16, 2021 , as of June 30, 2021, there have been more than 1.32 million digital RMB pilot scenarios, covering living payment, catering services, transportation, shopping consumption, government services and other fields. More than 20.87 million personal wallets and more than 3.51 million corporate wallets have been opened, with a cumulative number of transactions of more than 70.75 million and an amount of approximately 34.5 billion.Yuan.

This is a very good result. It is foreseeable that with the further pilot promotion of digital renminbi, everyone will be exposed to the use of digital renminbi in the near future. So, as an ordinary citizen, what will this internationally leading financial technology achievement bring to us? What about convenience?

1. Great simplification of payment operations

In the past, mobile payment used third-party platforms. Users needed to be familiar with the operation of different payment tools, and needed to bind cards, recharge, withdraw cash, etc. A series of operations, because the operations are complicated, they are worried about unnecessary losses caused by misoperations. Many elderly people still dare not use mobile phones to pay because of the complicated operations.

The digital RMB uses a unified APP launched by the central bank. Users only need to be familiar with the operation of one APP. The payment process is similar to using paper RMB. Because there is no need to consider the participation of multiple links, the operation is simple and direct, with no redundant steps.

2. Support dual offline payment, payment can still be completed without network

As we all know, if the user’s mobile phone does not have a network signal, or the merchant’s cash register does not have a network, under the current situation There is no way to complete the payment. I believe many people have encountered this embarrassing situation. After using the digital renminbi, due to the digital renminbi's leading dual offline payment design, when neither the merchant nor the user has an Internet connection, payment operations can still be completed by scanning or touching. This greatly expands the adaptability to the environment, which is very important especially for remote areas with poor network coverage.

3. No charge

The settlement of digital renminbi is completed directly by the central bank when paying. It can be understood that it is exactly the same as paper renminbi payment. Users will be charged. More importantly, digital RMB payments will not charge merchants any fees. In this case, existing transaction costs will be reduced, and the cost savings by merchants will ultimately benefit consumers.

4. Personal privacy information will not be leaked

When designing the digital RMB, it adopts an advanced model in which the certification center and the registration center operate independently and isolated from each other. Therefore, the user’s name, mobile phone number Sensitive data such as this only exists in the centralized database of the central bank. The merchant's system only knows your digital wallet number when collecting payment and cannot obtain your personal privacy data, so there is no need to worry about privacy leaks caused by the payment process. This is more advanced and user-friendly than the blockchain technology now widely adopted by other digital currencies.

5. You can specify the purpose of the money when paying

A big innovation of the digital RMB is the increased programmability of the currency, which means that it can Let your money have a certain self-supervision and management function.

For example, when you pay a sum of money to the other party, you can specify the use of the money, and the other party cannot use the money for other purposes. To give two examples, when you give your children pocket money, you can specify that the money cannot be used to recharge games. When you donate to disaster areas, you can specify that the money can only be used to purchase relief supplies.

6. Smart Contract

You can confirm a payment plan with the merchant on the app. In the future, if the pre-agreed conditions are met, the wallet will Payments to merchants will be made automatically as planned, eliminating a lot of tedious detail management processes. Of course, this is an optional feature.

The above are just some of the characteristics of digital renminbi, but not all. As can be seen from the above, digital RMB has made great innovations in the existing payment system, giving us a new understanding of online payment, and will definitely bring real convenience to our lives. It is expected that the digital renminbi can complete the pilot as soon as possible and be widely used in the whole society as soon as possible.

What are the uses of digital renminbi 2

Since the concept of digital renminbi was launched, it has attracted widespread public attention. Although they have been hearing about it, many people still don’t know much about digital renminbi, and they don’t know the difference between digital renminbi and the currently used Alipay and WeChat.

The concept of digital renminbi

Digital renminbi is a new encrypted electronic currency launched by the People's Bank of China. It is mainly used in small retail high-frequency business scenarios and adopts a two-tier operating system. The central bank first exchanges the digital currency to banks or other operating institutions, and then these institutions exchange it for consumers. Digital RMB is mainly positioned as M0, which is equivalent to the cash and coins currently in circulation. It is a legal currency in digital form.

To use digital renminbi, you need to download a special APP on your mobile phone. The method of use is also super simple. Just touch the mobile phones with the digital currency wallet together to complete the transfer or payment conveniently.

The difference between Alipay and WeChat

Support dual offline payment

To use Alipay and WeChat payment, the merchant must be connected to the Internet Only then can the payment be completed. The digital RMB, like banknotes, can support payment when both parties are offline.

Higher security

After all, Alipay and WeChat are still third-party software, relying on bank accounts and payment accounts. If the software goes bankrupt, the money in it will also be transferred Bankruptcy and liquidation; and if theft and other acts of digital renminbi really occur, for real-name wallets, digital renminbi can provide a loss reporting function, which is more secure.

Information intensity grading

Regardless of the payment amount, Alipay and WeChat basically only need to enter a password to make transactions; while digital renminbi is based on mastering customer information.According to the different intensity of interest, the digital RMB wallet is divided into several levels. If you pay or transfer large amounts, you must go through a real-name wallet with high information intensity.

The research and development and application of legal digital currency will help efficiently meet the public’s demand for legal currency under the conditions of the digital economy and improve the convenience, security and anti-counterfeiting of retail payments. level and promote the accelerated development of China’s digital economy. So look forward to it coming.

What are the uses of digital renminbi 3

Currently, digital renminbi is being piloted in Shenzhen, Suzhou, Xiongan, Chengdu, Shanghai, Hainan, Changsha, Xi'an, Qingdao, Dalian and Winter Olympics scenes (Beijing, Zhangjiakou) . Users outside the pilot area are temporarily unable to register and use.

Which operating institutions’ personal digital wallets can be opened in the Digital RMB APP?

Users can open accounts for industry, agriculture, China, construction, transportation, Digital RMB wallets from Postal Savings Bank of China, China Merchants Bank, WeBank (WeChat Pay) and MYbank (Alipay).

If you don’t have a bank card from Industry, Agriculture, China, Construction, Communications, Postal Savings, China Merchants Bank, Online Banking, or WeBank, can you use the digital RMB APP?

Can. There is no need to hold a bank card to open a digital wallet. You can open a wallet from any operating agency by providing your mobile phone number. At the same time, in order to benefit more users from the digital renminbi business and create a good circulation environment, the digital renminbi APP supports other commercial bank cardholders to recharge digital renminbi wallets opened in operating institutions. At present, commercial banks such as CITIC, Everbright, Shanghai Pudong Development Bank, Minsheng, Huaxia, Ping An, Industrial, Guangfa, Zheshang, Bank of Beijing, Bank of Shanghai, and Bank of Nanjing have supported it, and more commercial banks are gradually accessing it.

㈢ More than 50 banks have joined the open banking war

Artificial intelligence, big data, cloud computing, blockchain and other technologies are promoting the development of the financial industry to a new stage, and open banking is becoming The focus of the bank’s future development. Reporters learned from the industry that so far, Shanghai Pudong Development Bank, ICBC, China Construction Bank, China Merchants Bank, CITIC and Industrial Bank have all joined the open banking battle.

Open banking, according to the authoritative statement cited by Chen Liwu, deputy director of the Science and Technology Department of the People's Bank of China, at the "2018 Second China Internet Finance Forum", is "taking API/SDK as the core and integrating artificial intelligence , big data, tokenization technology, integrated structure and module packaging, supporting partners to combine and create on their own in different application scenarios in a Lego splicing manner, quickly embedding financial services into partner applications, and providing consumers with efficient convenience financial services”.

The origin and promotion of open banking is the exploration of data sharing and open data in the banking industry by the UK and the EU. The current development model usually includes two types, the self-built API platform model and the third-party API platform model.

In China, Bank of China first opened its doors in 2An attempt to "open up" was made in 2012, but the effect was not satisfactory. Subsequently, WeBank, Xinwang Bank, and Shanghai Huarui Bank made many attempts at open banking, but they did not achieve scale.

Open banking truly entered a period of accelerated development in 2018. In the second half of 2018, the terms "open banking" and "API platform" appeared in the annual reports released by many traditional banks, as well as these banks' exploration and practice of open banking. For example, the 2018 annual report of Industrial and Commercial Bank of China stated that with the help of the API open platform that “embeds scenarios and exports finance” and the Jufutong platform that aggregates superior online financial products and functions; Shanghai Pudong Development Bank launched the industry’s first API Bank in July 2018 Unbounded open banking; China Construction Bank claims to build an open banking service platform based on the cloud, embed financial services and data services into third parties in a standard and efficient way, and expand banking services to all aspects of social life scenarios. According to incomplete statistics from Yiou Think Tank, as of May 2019, more than 50 domestic banks have launched or are building open banking services.

Opportunities

Changing the financial ecosystem

Brett King once said in his book "Bank 4.0", "Banking services are everywhere , but not in bank branches." According to the industry, open banking gives traditional financial institutions an opportunity to proactively embrace innovation and change the financial ecosystem, and will make banking services ubiquitous.

In the "2018 Shanghai Banking Industry Innovation Report" released by the Shanghai Banking and Insurance Regulatory Bureau, it was pointed out that open banking is a platform-based business model that deeply integrates finance and technology. Data, algorithms, transactions, processes and other business functions serve customers, employees, third-party developers, fintech companies, suppliers and other partners in the business ecosystem, enabling banks to create new value and build new core competencies. The report stated that open banking, as an in-depth and advanced stage of financial technology integration, combines "going out" and "bringing in" by building a platform-based business ecological environment and gradually expands the radius of the business ecosystem.

Fan Yifei, deputy governor of the People's Bank of China, said in a signed article at the beginning of the year that he would draw on the open banking model to create a new business paradigm of "platform + ecology", seamlessly embed financial services into all areas of the real economy, and break the boundaries of services. Thresholds and barriers, broaden ecological boundaries, reshape value chains, and promote financial services to be "ubiquitous and meticulous".

Based on this, many banks have positioned the construction of open banking not only as a tactic, but also as a strategy. Because open banking does not only mean the opening of API interfaces, behind the opening of interfaces, it is also a profound change in the banking industry's business model, management process, and profit mechanism.

Open banking will bring more customers and opportunities to traditional banks. Director of the Financial Technology Center of Suning Financial Research InstituteSun Yang believes that with the opening up, traditional banks will become more grounded. Banking services are integrated into various vertical Internet scenarios through the bank's open platform, such as supermarkets, overseas shopping, music, online ride-hailing, and food delivery platforms, which means more customer sources, more active customers, and more high-value flow.

Challenges

Don’t follow blindly after a faltering start

However, industry insiders generally believe that the current development of open banking in China is still faltering. McKinsey pointed out in its report that in terms of specific practices, domestic open banking has deficiencies compared with open banking pioneers such as the United Kingdom and the European Union. McKinsey pointed out that these shortcomings are reflected in the following aspects: first, the strategy is not clear; second, external financial technology innovation forces are ignored, and open APIs are simply used as a tool to divert traffic to banks through third-party platforms, without cooperating with third-party platforms. The technical development strength of the company jointly creates innovative products and services for customers; thirdly, the organizational mechanism is not agile enough. Although the IT system has been transformed and optimized to technically achieve platform support for rapid iteration, the organizational mechanism still uses the bank’s traditional products. The delivery model is difficult to cope with the rapid changes in the market.

Zeng Gang, deputy director of the National Finance and Development Laboratory, believes that the banking industry should treat open banking more calmly and objectively, because "the true open banking practice may face considerable challenges in China." Challenges should not be separated from actual needs and blindly follow trends and chase hot concepts."

In Zeng Gang’s view, there are three main uncertainties. The first is regulatory uncertainty. He believes that unlike the UK and European governments that have introduced specific policies to lead the promotion model, and also different from the market-oriented innovation in the United States based on a sound legal foundation and mature functional supervision, China still needs to develop relevant supporting laws, regulations and rules. further improvement. First, open banking practices face greater policy uncertainty in the sharing of citizen data, especially financial data. The collection and use of citizens' personal information is subject to stricter supervision, and financial data, as the most sensitive category, is increasingly expensive to obtain and apply. In order to prove the legality of the data collected, the notification agreements signed by institutions and users are becoming more complex and lengthy, which not only increases the legal and compliance costs of institutions, but also increases the time cost of users to read and understand. Second, in terms of data acquisition, use and sharing, some open banking business attempts still wander in the gray area between what is possible and what is not. There are still many regulatory issues that need to be resolved urgently, and they face greater policy risks.

Secondly, there is the challenge of cross-border competition among financial technology companies. In the cross-border competition between banks and financial technology companies, licenses and data are the most important moats for commercial banks. The open banking concept will not necessarily increase the capabilities of the banking industry, but it will allow financial technology companies to enjoy most of the benefits. Currently, banks are at a disadvantage compared to financial technology companies in terms of scenario construction, user reach, traffic acquisition, etc., while open bankingIt cannot cultivate customer acquisition capabilities for traditional commercial banks. Instead, it gives up the interaction with users, retreats behind the scenes, and starts "banking as a service".

Finally, there is the issue of limitations of the bank’s own capabilities. Open banking is not just a matter of technical investment. Its development also requires banks to change their traditional business philosophy, governance structure, information system and IT development process to support it. However, Chinese commercial banks are large in scale, have long organizational management levels, and have relatively solid corporate cultures. , it is not easy to completely change the concept and implement it.

Source: China Insurance News

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㈣ A complete review of the supply chain finance of 13 banks : From the five major commercial banks to city commercial banks, innovation continues

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

During the "Steel Trade Crisis" in 2012, many steel industry suppliers used multiple mortgages and pledges of goods to conduct fraudulent financing, which led to a spike in the NPL ratio 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 accumulated 1300 upstream and downstream customers issued more than 45 billion yuan in online supply chain financing. 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” In line with the departmental structure, 37 first-tier branches and key second-tier branches have all established inclusive financial divisions, forming an inclusive financial service system driven by the two-wheel drive of “agriculture, rural areas and farmers + small and micro enterprises”.

In terms of promoting specific businesses, Agricultural Bank of China mainly provides comprehensive online financing services to upstream and downstream small and micro customers of core enterprises through the development of "data online lending" business. 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, the Agricultural Bank of China has also cooperated with the platform party China Enterprise Yunyun Chain to launch a new supply chain product "Factoring e-Financing" to provide financing for core enterprises' upstream and downstream suppliers at all levels.

▌Bank of China

With its advantages in international trade finance, Bank of China launched a supply chain financing product "Rongyida" as early as 2007, which was established in 2009 The supply chain team has also officially launched its efforts in supply chain finance. During the seven-year period from 2009 to 2014, the amount of its supply chain finance business exceeded 74 billion yuan to 1 trillion yuan, with an average annual compound growth rate of 68%. At the end of 2011, Bank of China realized the implementation of 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". Subsequently, through this method, it has expanded to more than 300 companies such as JD.com and Suning. A company has issued more than 10 billion yuan in online financing.

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

▌China Construction Bank

In 2018, China Construction Bank proposed a three-year strategic plan for the development of inclusive finance, and in terms of organizational construction, it achieved the first and second level of the inclusive finance division. With full branch coverage, a total of 288 small business centers have been established.

Specifically speaking, at the business level, CCB has designed and developed a series of services including accounts receivable financing, gold and silver warehouses, focusing on the operation of the “three streams” of information flow, logistics and capital flow from corporate procurement, manufacturing, sales to end users. , chattel pledge financing, order financing, chattel pledge financing and more than ten supply chain financing products. WorkingIn business acceptance, China Construction Bank focuses on the real transaction background of the business, the high degree of embeddedness between products and enterprise information flow, logistics and capital flow, and the need to provide structured and combined services. As of the end of 2018, CCB has issued a total of 538.5 billion yuan in online supply chain financing to 33,000 companies, with 1,184 online supply chain cooperation platforms. 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 core enterprises in automobiles and other industries, through cooperation with large domestic Logistics companies carry out pledge supervision cooperation and carry out credit insurance cooperation with insurance companies. Bank of Communications has successively launched products such as "Kuiyi Tie", "Kuai Yishou" and "Kuai Yipay", creating the "Yuntong e-Chain" A series of supply chain financing products.

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 focuses on the batch development of core enterprises on the asset side.We have acquired customers and launched products such as "Jingpu e-Account" and "Jingpu e-Commerce Loan", and launched innovative products such as "Government Procurement e-Loan" and "Bill Pool Instant Loan" in the field of online supply chain finance, as well as cloud Products such as fund supervision and e-business 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 in 2017 In August, we 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.The cumulative amount issued was 122.878 billion yuan, an increase of nearly 4 times year-on-year.

▌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" is based on the online supply chain financial service platform, covering 3 major categories and a total of 15 products. By sharing data with core enterprises to build a platform, it can master the required information flow, capital flow and Logistics, forming 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. It will also continue to promote the update and evolution of market business models and form a virtuous business ecological cycle.

㈤Selling Good Cars Hu Fei: The three cores of automotive supply chain financial innovation

As a representative of the domestic automobile circulation field in promoting the digitalization of supply chain finance, Selling Good Cars CEO Hu Fei was recently invited to attend the 4th Strategic Supply Chain Thought leadership forum. At the forum, Hu Fei shared the practice and innovation of selling good cars in the digitalization of supply chain finance in recent years. He said that the three core points of innovation are that assets can be "accurately judged, can be seen, and can be sold." At the same time, he believes that going deep into the circulation industry chain and finding the credit and value of the assets themselves is the key to improving the financial efficiency of the automotive supply chain, and can more effectively promote the healthy development of the supply chain finance industry.

(Discussion on the theme of innovation and development of supply chain finance)

As an important platform for annual leading companies to communicate with authoritative experts and scholars to discuss supply chain development trends, strategic supply chain thought leaders The forum has played an important role as a benchmark for the promotion of domestic supply chain practices and industry-university-research cooperation. The theme of the fourth forum is "Digital Supply Chain and Business Model Innovation Driven by Dual Cycles". Professor Chen Xiaohong, academician of the Chinese Academy of Engineering and President of Hunan Technology and Business University, Professor Zhao Xiande, director of the Supply Chain and Service Innovation Center of China Europe International Business School, and other world-leading scholars, Executives from many well-known companies such as JD.com, Procter & Gamble, MYbank, ProLogis, Huahaoche, Bank of Shanghai, and Liannuo Financial Services participated in this forum.

(Keynote Speech by Professor Zhao Xiande)

In recent years, with the proposal of the dual cycle goal of domestic and international economies, supply chain finance, as an innovative service model integrating industry and finance, has been favored by many Encouragement from national-level policies. In the 2021 government work report, it was specifically proposed to "innovate the supply chain financial service model." At the end of June, the central bank issued a document to vigorously promote supply chain financial services to small, medium and micro enterprises and implement a due diligence and exemption system. The industry predicts that the domestic supply chain finance market will grow from 23 trillion in 2019 to 40.3 trillion in 2024.

While supply chain finance is booming, there is also a lot of room for improvement. Especially in the heavy and long automobile circulation field, Hu Fei bluntly said that in the past, China's automobile supply chain finance had a poor digital foundation, which directly led to the high cost and extremely low efficiency of traditional automobile supply chain finance. Unlike other industries where long-tail companies are more affected by the accounting period of core companies, resulting in tight capital chains, the large number of "non-authorized system dealers" in the automotive industry, that is, small and micro car dealers, do not even exist at all. Within the scope of supply chain financial services led by OEMs.

(Hu Fei, founder and CEO of Selling Good Cars)

Targeting small and micro car dealers in the sinking market, Selling Good Cars has innovatively explored an innovative approach in recent years.The bottom layer of the digital supply chain financial solution is the typical "controlling" logic, that is, by clarifying the information of the most valuable automobile assets in circulation to control the risk of asset repayment. For the first time in the industry, the automobile assets can be "accurately judged and seen clearly". Live it, sell it", which has changed the past industry practice of relying on the credit of the car dealer itself, and truly realized the "asset credit" of trading vehicles as the core.

Hu Fei said that warehousing is the infrastructure for digitalization and real-time supervision of the automobile supply chain, and it is also the core node for providing services to small and micro car dealers. Selling Good Cars uses self-built smart warehouses across the country as nodes, and uses the Internet of Things system, AI big data system and blockchain system to ensure the authenticity of online car sources. For supply chain investors such as banks, this is real asset information, realizing The "accurate judgment" of automobile assets has been achieved. The whole-process digital and intelligent supervision avoids the risk of asset supervision in the supply chain finance process and realizes the "visibility" of automobile assets. Based on digital assets, Selling Cars has derived a series of complete supply chain services such as vehicle procurement and warehousing and logistics, and facilitates large-scale transactions by efficiently linking upstream and downstream vehicle dealers. In addition to "accurate judgment" and "visibility", assets can be "sold".

It is understood that Selling Cars has built 342 intelligent digital warehouses in more than 250 cities across the country, laid out more than 18,000 transaction logistics networks, and has a credit limit of more than 5 billion on the financial side. Digital innovation has significantly reduced the financing costs of small and micro car dealers from 15% to less than 5%, and the financing time has increased from several days in the past to a few seconds now. The platform's annual service model is selling more than 500,000 new cars, and the cumulative service The number of car dealers exceeds 40,000.

At the forum, Wen Jianjun, visiting professor of the Business School of Renmin University of China, fully agreed with this. He believes that there are five criteria for measuring a company's supply chain financial innovation: whether it effectively solves the financing needs of small and medium-sized enterprises, whether it controls risks, whether financial costs can be effectively reduced, whether the service is good, and whether it helps the industry in question. Small and medium-sized enterprises have improved their operating capabilities. @2019