Agricultural Bank of China Launched CIIE Financial Services Solution in Shanghai
On September 20, Agricultural Bank of China (ABC) held a launch event, announcing ABC's financial services solution for China International Import Expo (CIIE) and its CIIE service brand named "CIIE Financial Services Express" in Shanghai. Guo NingNing, Executive Vice President of Agricultural Bank of China attended the event and delivered a speech. Leaders from Shanghai Municipal Financial Service Office and Shanghai Municipal Commission of Commerce, and about 230 delegates from Shanghai Cross-Border E-Commerce Association and more than 100 enterprises, including Bright Food and Orient International, attended the event. The launch event fully demonstrated ABC's business strength, professional financial service capacity and strong sense of social responsibility as one of the major large banks in China, which was well-received by the relevant institutions and enterprises attending the conference.
"Agricultural Bank of China, as a global systemically important bank and a large comprehensive financial service group, attaches great importance to the financial services for CIIE and is confident to provide comprehensive and high-quality cross-border financial services for CIIE in 6+365 days", Guo Ningning, Executive Vice President of ABC, said in her speech. The confidence of ABC mainly comes from its deep sense of responsibility, business strength, and professional financial service capacity. Agricultural Bank of China's exclusive financial services solution "CIIE Financial Services Express", tailor-made for CIIE, is not only optimization and integration of existing product lines and service process, but also a comprehensive innovation and integration.
Guo Wei, Deputy General Manager of the International Banking Department of Agricultural Bank of China, gave a detailed and professional introduction to "CIIE Financial Services Express". Agricultural Bank of China's youth volunteer representatives held a swearing-in ceremony, saying they will fulfill their mission to do a good job in the CIIE volunteer service. The Deputy Secretary of the Shanghai Committee of the Communist Youth League and the leaders of ABC Shanghai Branch presented ABC youth volunteers with red flags symbolizing volunteerism.
The financial services solution launched this time is an exclusive solution tailored for CIIE, including business environment optimization, "RONGHUITONG" trade finance solutions, global cash management, all-channel integrated service, all-weather on-site service and other financial services to meet the actual needs of purchasers and exhibitors.
By the end of June 2018, ABC's total assets reached nearly 22 trillion yuan, ranking the third in the global banking industry. ABC ranked the fourth in the global banking industry in terms of tier 1 capital. At present, Agricultural Bank of China has set up 22 overseas institutions and one joint venture bank in 17 countries and regions, basically forming an international network covering five continents. In 2017, the international settlement amount of ABC reached 900 billion US dollars, the cross-border RMB settlement amount reached 850 billion RMB, the trade finance volume exceeded 100 billion US dollars, the foreign exchange transaction amount reached 350 billion US dollars, and the business for nearly 400 clients "going global" to 80 countries and regions amounted to nearly 50 billion US dollars. ABC's increasingly comprehensive and internationalized business strength provides a solid guarantee for its financial services for CIIE.
After the launch event, EVP Guo Ningning was interviewed by financial journalists of CCTV and she further explained the features and highlights of ABC's CIIE financial services solution. According to EVP Guo, ABC's “CIIE Financial Services Express” has three features, namely full-process product design, all-channel resources sharing and all-weather service response.
Full-process product design means that ABC integrates and optimizes various financial services such as trade finance, foreign exchange trading and fund settlement, presenting a package of "classic + featured" financial services that suit transaction scenarios in CIIE. In particular, three featured products that are innovatively developed to facilitate account opening, customs clearance and payment can provide great convenience for enterprises in the CIIE. The "RongHuiTong" trade finance solution provides full-process financial service support for import and export enterprises by integrating trade financing and capital trading products for various settlement methods.
All-channel resources sharing means ABC relies on the "online + offline" financial service platforms to provide all-channel financial service support for the CIIE. In addition to taking advantage of the extensive physical channels offline, ABC also integrates online financial products on the online financial platform to provide one-stop cross-border e-commerce services for import enterprises, cross-border e-commerce platforms and cross-border payment institutions.
All-weather service response means ABC has opened a green channel for foreign exchange business in its service outlets around the National Convention and Exhibition Center and set up 11 volunteer service stations and 17 volunteer service teams. “ABC's services will be extended from the financial field to other aspects, from the 6-day exhibition period to the 365-day regular service, and from Shanghai to the whole country and even the whole world. EVP Guo also said that it is of great significance to hold the China International Import Expo, and ABC, as the national team and main force in financial service sector, has the responsibility to provide comprehensive and high-quality cross-border financial services to customers both at home and abroad.