Finance helps foreign trade enterprises "ride the wind and waves"

China's private enterprises increased their imports and exports by 40.8% year-on-year to 5.48 trillion yuan in the first four months, according to data released by the General Administration of Customs. Since the outbreak of COVID-19, the development of foreign trade enterprises has attracted much attention. China's foreign trade has grown buck-trend and operated steadily, with finance playing an indispensable role. How does finance further escort the high quality development of foreign trade?

Break through the old thinking of "credit depends on mortgage"

Shenzhen changfeng plastic packaging products co., LTD. Main plastic products, protective mask processing and export, in recent years, the annual export of about 700 thousand US dollars.

"The selling season is now longer than usual because of the epidemic abroad, but the shortage of liquidity is a headache." Guo Hao, the person in charge of the company, told reporters that in mid-April, he was holding a try mentality and applied for the "export data loan" of Zheshang Bank. Because the data was connected with the cross-border financial blockchain service platform of the SAFE, the system automatically screened and approved. With the assistance of human, the company was soon approved with a credit line of 600,000 yuan. "As long as scan can initiate a loan application, so convenient!" Mr. Kwok said.

"Export data loan" is one of the explorations made by Zhejiang Commercial Bank to solve the problems of "credit granting" and "financing difficulty" of foreign trade export enterprises. Previously, the bank has also launched "export collection loan", "export silver tax loan" and other big data credit model. The person in charge of Zhejiang merchant bank introduced that the above 3 models broke through the traditional thinking of "credit by mortgage", and opened up new financing channels for small and medium-sized export enterprises with normal operation and good credit by mining the value of enterprise management data.

Why to break through the "credit by mortgage" is the key? "Our country foreign trade enterprise overall small and scattered, financial institutions in the service of small and medium-sized foreign trade enterprises often faced in the process of enterprise internal financial management extensive, foreign trade order is not stable, enterprise life cycle is short, credibility is not high, influence the financial institutions to small micro enterprise's willingness to lend, lead to the financing difficult financing problems." Everbright Bank financial markets macro analyst Zhou Maohua told the Economic Daily reporter.

This also means that financial institutions must seek changes if they want to truly serve small and medium-sized foreign trade enterprises and promote the high-quality development of financial services and foreign trade.

Experts said, on the one hand, financial institutions should enhance the initiative and innovation of service, for different types of small and medium-sized foreign trade enterprises to carry out product innovation. For example, explore supply chain finance, collective hedging products, etc. On the other hand, we should improve the domestic credit system and information platform, introduce big data, block chain, artificial intelligence and other technologies, and guide foreign trade enterprises to focus on their main business and constantly improve their management level and product quality. In addition, innovative products such as banking and insurance should be encouraged to provide marketable and sustainable financial products for foreign trade enterprises.

To help enterprises effectively cope with exchange rate fluctuations

At present, the trend of global demand is picking up, and the foreign trade situation of Chinese enterprises is facing favorable conditions. However, the reporter felt in the interview, for the future of foreign trade enterprises export can maintain high growth, the industry is still worried.

Chang Ran, a senior macroeconomic researcher at Zhixin Investment Research Institute, said that although China's export trade has achieved buck-trend growth, foreign trade enterprises are still facing unstable internal and external factors. For example, increased labor costs, supply pressure, tight cash flow and unstable payback, increased trade costs and logistics, the depreciation of the dollar profit reduction. Under the unstable situation of the global epidemic, the financial risks faced by foreign trade enterprises, especially the exchange rate risk and interest rate risk, deserve attention.

Zhou Maohua believes that the twists and turns of global economic recovery and policy divergence have caused fluctuations in the foreign exchange and capital markets, among which the fluctuations in the foreign exchange market have a greater impact on the exchange gains and losses of small and medium-sized foreign trade enterprises.

"During the epidemic last year, our bank opened a green channel for foreign exchange payment for epidemic prevention and control. With the help of the 'Foreign Exchange Gold Keeper' platform, enterprises can complete various foreign exchange businesses remotely." A person in charge of the Bank of Ningbo said that during the epidemic, the exchange rate fluctuated greatly, and enterprises and banks could not communicate offline. The Bank of Ningbo made full use of WeChat, online conference, live broadcast platform and other multi-channel visitor methods to help enterprises do a good job in cost management and enhance the ability of enterprises to avoid risk in exchange rate.

China CITIC Bank Jiaxing Branch provided professional guidance to foreign trade enterprises during the epidemic period according to the work deployment of Zhejiang Jiaxing Banking and Insurance Regulatory Sub-bureau. "Seize the opportunity of low overseas financing costs, help enterprises grasp the opportunity of exchange rate fluctuations through professional guidance, and realize the requirements of low-cost overseas financing through issuing letters of guarantee and other businesses. For example, I completed a loan of about 30 million US dollars for a group company in Jiaxing City, and the financing cost was only 30% of the domestic cost. My efficient, low price and professional financing process was highly recognized by the enterprise." Relevant staff of the bank said.

We will improve the efficiency of financial services

As an important part of China's foreign trade and national economy, small and medium-sized foreign trade enterprises not only create a large number of jobs, but also have strong adaptability to changes in global demand and are very active in innovation. For example, during the epidemic period, cross-border e-commerce and other new forms of foreign trade grew against the trend and became new highlights and engines of China's foreign trade.

To cope with cross-border financial needs of the electricity, the bank of China zhejiang branch focus on cross-border electricity independent stand of cross-border credit business innovation scenario, by developing the management system and independent on the collection of standing customer connectivity, has realized the mass orders online data transmission, matching and check system, and through the introduction of foreign trade integrated service enterprises realize the declaration data interaction, An innovative way to solve the difficulty of "trade background examination" in cross-border e-commerce export collection business is preliminarily explored, so as to provide safe, fast and efficient cross-border bank collection service for cross-border e-commerce.

It is not difficult to see that the timely provision of financial services for cross-border e-commerce is the epitome of the domestic financial industry grasping the wave of digital transformation, promoting the construction of foreign trade and cross-border related systems, and optimizing the efficiency and convenience of financial services.

"In the current environment, China's financial industry to improve the relevant service system, according to the characteristics of the foreign trade of foreign capital, innovative financial products and service mode, condensed financial institutions to actively play a role of the main banking, credit guarantee insurance and leverage of financing guarantee funds and capital market financing function, provide strong foreign trade foreign financial kinetic energy." Bank of China Research Institute researcher, the People's University of China International Monetary Research Institute researcher Zhao Xueqing said.