Since this year, ICBC, via online and offline channels, has stepped up efforts in consumption-based poverty alleviation and carried out “Chunnuan Action” (or “Warm Spring Action”) nationwide, helping impoverished areas to overcome the impact of the COVID-19 pandemic and boosting a stable increase in income of poor households  by selling agricultural products. Specifically, ICBC’s e-commerce platform - ICBC Mall has assisted in selling agricultural products of over RMB200 million since the beginning of the year, more than 90% of which are agricultural products in impoverished areas.

To maximize the effectiveness of consumption-based poverty alleviation, ICBC gave full play to its advantages in funds, customer base and information, and helped quality agricultural products in impoverished areas to go online. With joint efforts from all parties, the bank boosted product sales through the combination of direct purchase and sales promotion.

First,  online poverty alleviation promotions are organized. ICBC held more than 20 charity activities to assist poor farmers, helping them sell agricultural products worth over RMB40 million. To help sell unmarketable local agricultural products in Hubei Province, ICBC launched the “Love for Hubei” activity on ICBC Mall, during which 6.5 tons of navel oranges in Zigui County were sold. The bank also held the “Spring Tea Festival” poverty alleviation activity, during which RMB65,000 worth of Hubei spring tea was sold online within one week.

Second, transaction matching is proactively carried out. ICBC, based on its industrial chain and big data of financial transactions, sought partners for enterprises of agricultural product cultivation, processing and trade in impoverished areas, helping them expand market, build brand, and promote the integration of production and sales of poverty-alleviation commodities. In total, it facilitated purchase of commodities worth more than RMB20 million in national-level poverty-stricken counties. In Beijing, ICBC cooperated with Tian Fu Hao and other quality enterprises, purchasing 10,000 black chickens in Wanyuan, Sichuan Province through ICBC Mall to perform targeted poverty alleviation. It also helped build a chain business pattern featuring unified purchase, slaughter and processing, in an effort to boost the transformation and upgrading of enterprises in impoverished areas.

Third, exclusive benefits and training are provided. ICBC implemented a quick access mechanism of “approval upon application” for e-commerce in poverty-stricken areas, and exempted merchants from both commission charges and deposits. In the meantime, it initiated the “Poverty Alleviation Operation Growth Plan” through ICBC Mall and held multiple video training to explain operational skills to merchants, in a bid to continuously improve their operational capabilities and boost online sales.