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ICBC Held Cooperation Forum for Cross-border E-commerce and Finance

To support the ongoing China International Import Expo (CIIE), Industrial and Commercial Bank of China (ICBC) held the Cooperation Forum for Cross-border E-commerce and Finance on November 7 in Shanghai. Representatives from over 100 domestic and foreign enterprises, and government organs attended the forum. At the forum, ICBC signed strategic cooperation agreements with “6+365”, the official e-commerce platform for CIIE, HUI Maori Collective of New Zealand, Trademonster, CA-B2B.com, CCIC Traceability Technology Service, kjt.com, mayiyanghuo.com and Xukong Technology to boost mutual promotion between financial innovation and cross-border trade and better satisfy higher level of consumption needs.

According to a principal from the Internet Finance Department of ICBC, the forum was intended to build a bridge of communication and cooperation for domestic and foreign cross-border trading enterprises and explore new channels for deeper cooperation between banks and enterprises. So far, ICBC Mall has become a cross-border e-commerce platform which integrates “cross-border B2C+B2B” and covers “physical + virtual” goods to serve imports and exports. It can provide foreign trade companies with integrated and one-stop services covering online trade, logistics, customs declaration and taxation. Next, ICBC will adapt to new market changes and develop a financial service platform that is “e-commerce-centered and finance-rooted” with a focus on customers, so as to meet the demand of more domestic and foreign enterprises and consumers.

ICBC Shanghai Branch manages nearly 500 outlets, atop the banking industry in Shanghai, a principal from ICBC Shanghai Branch said. With Shanghai’s regional advantage, policy advantage in China (Shanghai) Pilot Free Trade Zone and ICBC’s service advantage in strategic layout, product innovation and professional teams, the Branch will continue to provide domestic and foreign customers with all-round, diversified and high-quality financial services in the future. Directors from CCIC Traceability Technology Service, CA-B2B and kjt.com and the representative from Standard Bank of South Africa shared their opinions on cross-border e-commerce such as traceability management in cross-border trade, prospects for cross-border e-commerce platforms and domestic and foreign integrated financial services.

It’s introduced that since its launch in 2014, ICBC Mall has attracted 21,000 high quality merchants and put on sale 1.5 million pieces of goods, serving over 100 million users. Its cross-border e-commerce platform has set up 23 national (regional) pavilions and 7 cross-border sections, covering six continents including Asia, Africa, Europe, Australia, North America and South America.