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ICBC Innovates Services to Boost Rural Revitalization

To serve rural revitalization, ICBC has been continuously strengthening innovation on products and services, launching the “ICBC e-Wallet” financial service model to support the development of distributed photovoltaic (PV) industry in rural areas, and to help farmers expand their income sources. As of the end of the first quarter of 2021, ICBC had served seven PV enterprises via this model, covering more than 5,000 towns and villages in over 10 provinces including Shandong, Zhejiang and Anhui, and benefiting more than 600,000 farmer households. Via this model, ICBC issued over RMB3.3 billion of PV loans.

According sources, distributed PV power stations in rural areas are becoming more and more popular because they are clean, environmental-friendly, easy-to-operate and economic efficiency, which not only can meet the power demand of rural households, but will also contribute to the realization of the goals of “emission peak” and “carbon neutrality”. The distributed PV industry in rural areas mainly involves PV enterprises, farmer households, and power grid companies. To make it convenient for farmers to install PV equipment, ICBC has studied the industry’s mode in depth. Through “ICBC e-Wallet”, ICBC has embedded online financial services into the scene of PV enterprises. That has not only made it easier for farmers to manage accounts and pay fees, but also helped participants of the industrial chain improve efficiency and reduce cost, thus promoting the expansion and upgrading of the distributed PV industry in rural areas and increasing income sources for farmers.

In Zhejiang, Anhui, Henan, etc., ICBC cooperated with Chint Anneng, embedding “ICBC e-Wallet” services into Chint’s “Taichi PV Cloud”, by which thefarmer clients can directly proceed with business online without going to any physical bank outlet even once. As the signing process becomes more convenient and faster, the efficiency has improved significantly.

“ICBC e-Wallet” is an integrated service solution of online retail business launched by ICBC in 2018. As an important carrier of “Boundless ICBC”, “ICBC e-Wallet” has, with e-accounts as its base and financial products as its components, provided 22 products and services under five categories, namely, account management, fund management, investment & wealth management, financing credit and consumer payment, which provide complete financial solutions to all kinds of scenes. After three years’ development, it currently has more than 400 partners, serving over 35 million personal customers.