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ICBC Provides All-round Services for the 3rd CIIE

China International Import Expo (CIIE), the world’s first national exposition themed on import, is becoming an important platform for China to build the new development pattern that takes the domestic market as the mainstay while domestic and foreign markets boost each other. The 3rd CIIE recently opened on November 4, 2020 in Shanghai. Industrial and Commercial Bank of China (ICBC), as CIIE’s business promotion partner, actively assisted with the global investment promotion by putting into play its experience in serving the 1st and 2nd CIIE, well-established global network, leading Fintech and broad customer base. It built a financial bridge of connectivity in global trade exchanges in the post-pandemic era, and offered effective support for cultivating a strong domestic market, constructing the new development pattern and realizing high-quality development.

Facilitating Global Trade Exchanges

To better deliver overall CIIE services, ICBC developed an exclusive financial service scheme v2.0 with the theme of “ICBC, Your Smart Banking Partner for CIIE”. Based on its extensive global presence, broad customer base and abundant product lines, it would extend the essence in serving the previous two CIIE, and will spare no effort to support the 3rd CIIE with better financial products and services.

Currently, ICBC has established 426 subsidiaries in 49 countries and regions, covering six continents. Its seven RMB clearing banks provide RMB clearing service around the clock, providing one-stop cross-border integrated financial solutions for over 670 million personal customers and 8.1 million corporate clients. By equity participation in Standard Bank of South Africa, it has extended business to 20 African countries. For the 3rd CIIE, ICBC will continue to deepen its development strategies on personal and corporate business and strategies on internationalization and integration, remain focus on quality to facilitate cross-border economic and trade exchanges, striving to lead the CIIE with a new level.

Organizing Supporting Events for the 3rd CIIE

ICBC would hold three supporting events for the 3rd CIIE. Among them, China Europe CEO Summit would invite Chinese and European senior politicians and enterprise representatives from the entire Europe to join in discussions on such  topics as China-Europe trade and investment cooperation in the new era and stability of China-Europe industrial chain and supply chain in the post-pandemic era. The Financial Cooperation Forum jointly hosted by ICBC and the People’s Bank of China, relying on the Belt & Road Inter-bank Regular Cooperation Mechanism (BRBR), will invite related departments and institutions at home and abroad, as well as BRBR member representatives to discuss on topics such as prospect of the Belt and Road investment and financing cooperation in the context of pandemic and reshaping of global industrial chain and supply chain in the post-pandemic era. New ICBC trade financial products would also be launched in the event. Besides, the bank would cooperate with China Council for the Promotion of International Trade to host Belt and Road Trade Fair, inviting Chinese and foreign enterprises for on-site and online matchmaking of purchase demand.

Integrating the Quality Financial Products and Services

In order to meet the diversified financial demand of CIIE exhibitors and purchasers, ICBC developed an integrated financial product system featured by “intelligent, fast, comprehensive, excellent and cloud” to the CIIE.

“Intelligent” account opening provides domestic purchasers with online appointed account opening service via WeChat, and overseas exhibitors with account opening witness service. With electronic and remote service instruments, it supports one-stop account services, integrating account management, collection and payment management, liquidity management, short-term financing, investment and wealth management, and risk management.

“Fast” ICBC Express offers personal and corporate customers more flexible and convenient cross-border remittance service at a lower cost, truly realizing “one click for payment globally”. Depending on the “international trade single window” settlement product, it reduces the repeated submission of materials from customs declaration and clearance to settlement, promotes international trade settlement to transform to electronic and online channels, and offers more convenient services for import and export enterprises.

“Comprehensive” financing focuses on the production and operation features and actual financing demand. In line with settlement methods and cycles of domestic and overseas trade, ICBC has built up an all-round and full-cycle financing product system featuring online + offline, short term + mid/long term, and credit + guarantee, to help enterprises improve efficiency of capital turnover and cut operation cost.

“Excellent” exchange provides exhibitors and purchasers with corporate currency exchange service and interest rate/exchange rate hedging instruments, such as spot and forward exchange settlement and sale, options, options portfolio, foreign exchange swap, hedging and interest rate swap, effectively preserving and increasing the value of trading capital. It supports personal exchange business in 23 foreign currencies to meet exhibitors’ demand for international exchange during the CIIE.

“Cloud” investment promotion holds multiple online promotion meetings abroad to provide online cross-border trade matchmaking and supporting financial services, which helps global customers explore more business partners, build business brand, and facilitate the recovery of global industrial chain and multi-lateral trade cooperation.

Upgrading the CIIE Services with High-tech

ICBC, relying on its advantages on science and technology, financially supported the CIIE with innovative products, including “Sino-Euro e-Order Link”, “Sino-Africa e-Chain Link”, “Cross-border e-Trade Link” and “International e-Travel Link”. It launched a special zone themed by “ICBC, Your Smart Banking Partner for CIIE” and staged an integrated “online + offline” service platform. The CIIE special zone is intended to serve CIIE exhibitor and customers with updates on ICBC’s CIIE services and “ICBC Global E-Trade Service” etc., so as to keep the customers updated on CIIE events and information.

Recently, ICBC also launched ICBC Business Matchmaker platform, to provide enterprises with intelligent whole-process services characterized by “communication + service + trade + operation”, and developed a global network of information sharing and mutual benefit. The platform was dedicated to building up an intelligent and digitalized global business community and constructing a lasting and stable new ecosystem of bank-government and bank-business interaction.

Setting up the Bridge of Trade Connectivity

ICBC, as the business promotion partner of the 3rd CIIE under the cloud of the COVID-19, strives to innovate in investment promotion forms by combining “online + offline”, “domestic + overseas”, “corporate + individual”, “commercial banking + investment banking” and “financial + non-financial” under the support of China International Import Expo Bureau. With the joint efforts of its domestic and overseas institutions, ICBC entered into Asia, Africa, Europe and Latin America to hold a series of cloud investment promotion events, and organized several supportive promotion activities in Anhui, Zhejiang, Fujian and Liaoning and other provinces. Currently, ICBC has engaged with governments, associations, financial institutions and over 1,000 enterprises across the globe, which was actively responded both at home and abroad. At present, its global investment promotion was soon to be closed.