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ICBC’s e-Commerce Poverty Alleviation Transactions Exceed RMB1 Billion in the First Eight Months

Since the beginning of this year, Industrial and Commercial Bank of China (“ICBC”) has given full play to its advantages in its e-Commerce business. Through the “Chunnuan Action” featured by poverty alleviation through consumption, ICBC has made efforts from both sides of government and business to promote industrial upgrading in poverty-stricken areas, helping farmers get rid of poverty and increase income. In the first eight months of this year, ICBC achieved a total of over RMB1 billion in poverty- alleviation transactions through ICBC e-Mall platform, a three-fold increase year on year.

The first measure is to comprehensively use methods such as “direct buying + support on sale” to help poor areas solve the problem of unsalable agricultural products caused by the epidemic and flood seasons. In terms of direct purchase, ICBC took the initiative to increase the procurement of agricultural products in poverty-stricken areas, with the cumulative purchase volume exceeding RMB100 million. In terms of supporting poverty-alleviation merchants, ICBC has implemented the “double exemption” policy to exempt the commissions and deposits in relation to ICBC e-Mall poverty alleviation transactions, and opened a green channel of “approval once requirement” for poverty-alleviation merchants. As of the end of August, nearly 4,000 poverty-alleviation merchants have been added, covering 662 national-level poverty-stricken counties in 22 provinces, municipalities, and districts.

The second measure is to make efforts from both government and business to inject new momentum into poverty alleviation and joint construction. ICBC gives full play to the advantages of ICBC e-Mall as intermediary, strengthens the connection with government departments, large enterprises and leading enterprises, establishes poverty alleviation alliances, and jointly builds an ecosystem and large platform for poverty alleviation through e-commerce. At present, it has reached the intent on poverty alleviation cooperation with more than 200 entities, assisted inter-connection between upstream and downstream enterprises, and facilitated purchase of RMB340 million poverty-alleviation products.

The third measure is to innovate poverty-alleviation methods to promote the sale of agricultural products in poor areas. In accordance with the principle of “top sales in each season, distinctive features in each province”, ICBC organized more than 400 various e-commerce poverty-alleviation promotions to help poverty-alleviation products “enter canteen, outlets, supermarket, enterprise and supply chain”, and innovatively carried out more than 40 live broadcast sales with the number of viewers exceeding 14 million, adding cloud technology into the arsenal of agricultural products sales.

The fourth measure is to make every effort to provide targeted assistance. ICBC fully supports Jinyang’s poverty alleviation, and continues to consolidate the results of poverty alleviation in Nanjiang, Tongjiang and Wanyuan. In the Poverty-alleviation column in ICBC e-Mall, ICBC launched more than 2,700 special agricultural products in the four counties to solve the problem of lack of advertisement for products in poor areas. At the same time, the “wholesale e-commerce” procurement model was innovated, by which a domestic catering company purchased 800 tons of green peppers from Jinyang County in batches, with turnover surpassing RMB70 million. In addition, ICBC has set up nearly a hundred poverty-alleviation stations in Sichuan, Shanghai, Zhejiang, Beijing and other places to help registered poverty-stricken merchants in Jinyang to sell more than 500 kilograms of green peppers.