Explain the first cross-border e-commerce data supervision financing (cross-border e-commerce financing)

In order to fully respond to the national policy of "six guarantees and six stability", Ping An Bank has taken practical actions to ensure the stability of the industrial chain, supply chain and foreign trade, focusing on supporting cross-border e-commerce small and medium-sized enterprise customers who have been severely affected by the epidemic. group to promote the construction of a new development pattern in which domestic and international dual cycles promote each other. Recently, Ping An Bank successfully launched the first business of the cross-border e-commerce data supervision financing model, which represents a breakthrough for commercial banks in "exploring new scenarios, breaking new models, and integrating new technologies" to accurately empower large consumer industries. step.

Cross-border e-commerce is booming

The large consumer industry is closely related to the "clothing, food, housing and transportation" of the broad masses of the people, and is also one of the "troika" driving economic progress. An overview of the entire large consumer field, spanning the three major links of manufacturing, circulation, and services, covering many sub-sectors. In 2021, even if the impact of the epidemic has not been completely eliminated, the scale of my country's large consumer industry will still exceed 44 trillion yuan, with a growth rate of 12.5%. Consumer spending contributes more than 65% to economic growth, and has once again become the first driving force for economic growth. Cross-border e-commerce, as an emerging track in my country's large consumption field, has benefited from the steady increase in per capita income levels, the continuous introduction of favorable policies, and the continuous improvement of supply chain infrastructure. It has shown rapid growth in recent years, and the transaction scale has entered the 10 trillion mark.

The demand side, policy side and supply side all show that cross-border e-commerce is ushering in historic development opportunities: From the demand side, in 2020, after a long period of rapid growth, my country's GDP exceeded 100 trillion for the first time , the per capita disposable income of residents nationwide has exceeded 32,000 yuan, and consumer demand has shown an evolving trend of personalization, diversification and high-end. Food and beverages, toiletries, nutritional health care, beauty makeup and household products have become the main cross-border products purchased by Chinese residents. From a policy perspective, in recent years, favorable new policies for cross-border e-commerce have been issued frequently, further relaxing restrictions on cross-border e-commerce imports, and at the same time strengthening the proliferation of counterfeit goods, tax evasion, and after-sales service in the original overseas purchasing. Chaotic supervision such as difficulties in safeguarding rights has pushed the cross-border e-commerce market toward standardization, systematization, and scale; from the supply side, as major logistics companies invest heavily in the development and construction of cross-border logistics and cross-border warehousing, The digital transformation and upgrading of warehousing and logistics provides the underlying guarantee for the vigorous development of cross-border e-commerce transactions. The cross-border e-commerce industry has entered the "fast lane" and has gradually become one of the important emerging forces serving the new development pattern of "domestic cycle as the theme and domestic and international dual cycles promoting each other".

The "pain" of cross-border dealers

Due to the COVID-19 epidemic in the past two years, cross-border e-commerce has ushered in a golden development period that has never been seen in a lifetime. However, the glory and vigorous development of the industry still cannot conceal the pain in the hearts of market participants, especially small and medium-sized enterprises - financing difficulties.

It takes up a lot of funds. Among the participants in cross-border e-commerce, cross-border distributors, as intermediate links in the industrial chain, play an important role in linking upstream brand manufacturers and downstream channel sellers; in the actual operation process, cross-border distributors usually need to communicate with upstream The brand adopts the prepayment model of "pay first, then deliver", and adopts the "delivery first, pay later" prepayment model with downstream channel parties, thus forming a natural account period and creating a high-turnover, light-asset situation. operating characteristics and greater capital requirements.

Weak credit qualifications. Cross-border dealers are mostly small and medium-sized enterprises whose entities are registered overseas. Logistics, information flow and capital flow involve both domestic and foreign ends. Compared with traditional domestic dealers, it is more difficult to obtain bank financial support based on their own entity qualifications. The person in charge of a cross-border e-commerce company said in an interview: "We are mainly engaged in the distribution of imported milk powder and other categories. Although the company's annual turnover has exceeded 500 million yuan, it has not been able to obtain financing from banks before. The first reason is that the company registration Overseas, the second is that the company's assets are milk powder and other consumer goods stored in bonded warehouses. Banks have always had difficulty in mortgaging the chattels in these bonded warehouses. During peak sales periods such as 618 and Double Eleven, we need to supply upstream. Businesses purchase large quantities of goods in advance, and funds are extremely tight. Financing through other channels is often very expensive, but we have to use it. Our financing problems have not been effectively solved for so many years. ”

We think about what our customers want. , soothing the "pain" in the hearts of customers

"The funds have been received, thank you for your strong support to us!" At 18:30 pm on December 24, a person engaged in cross-border e-commerce trade of imported milk powder The person in charge of Company J sent this message of thanks to the business team of Ping An Bank Shenzhen Branch. Just a few minutes ago, an offshore financing of US$1.65 million was successfully transferred into the account of Company J’s supplier, Company M. The country’s first cross-border e-commerce data supervision financing model business was successfully implemented.

The head of Ping An Bank’s Medical, Health, Culture and Tourism Finance Division said that Ping An Bank pays close attention to the financing difficulties of cross-border dealer groups and actively explores solutions. We have cooperated with GLP, the world’s leading cross-border logistics leader. GLP Group has reached a comprehensive cooperation and is the first in the industry to launch bonded warehouse data supervision and financing services in the cross-border e-commerce scenario, integrating "Internet of Things + scenario + financing" to provide convenient and fast financial support for cross-border dealer customers.

“New scenarios, new models, and new technologies” are the three keys to success for Ping An Bank’s bonded warehouse data supervision financing to achieve a 0-to-1 breakthrough.

Dive into new scenarios.

As the backbone of the financial system, banks must be embedded in the real upstream and downstream trade scenarios of the industrial chain so that they can take into account both "strength" and "precision" and truly provide loan support to the majority of small and medium-sized enterprises. Ping An Bank has long maintained in-depth tracking of the large consumer industry. In 2021, it will focus on layout and set up a special large consumer supply chain commando team at the head office level to keenly capture driving variables such as macroeconomics, regulatory policies and industrial development, and plan for cross-border e-commerce competitions in advance. The market, products, industry research and risk lines are closely linked, and multiple rounds of field surveys have been carried out to accurately target the cross-border dealers' small and medium-sized enterprise customer groups with large financing needs. At the same time, they have dismantled and sorted out the important nodes of the entire trade chain upstream and downstream. Lay a solid foundation for subsequent development iterations of new models.