This year, the covid-19 pneumonia epidemic continues to relapse and the international situation becomes more and more complex. In order to effectively help enterprises to relieve the difficulties and boost market confidence, the Chengdu Bank launched the “cross border financial services brand” featuring the “Sichuan Yi Hui” feature cross border financial services brand launched in April in the activities of “facilitating convenience, avoiding foreign exchange insurance and improving people’s livelihood”. A series of preferential activities such as reduction and exemption of document business handling fees and 50% discount of international trade financing interest rate. Real gold and silver handle cross-border financial burden reduction for small and medium-sized enterprises.

Benefit people’s livelihood and reduce the burden of enterprises with real gold and silver

It is understood that the Bank of Chengdu “rongyihui” integrates six characteristic services, including “rapid exchange, e-settlement of foreign exchange, long-term hedging treasure, quick and easy documents, easy cross-border financing and profit, and one-stop capital access”, which effectively solves the actual pain points of cross-border financial business of foreign-related enterprises and provides one-stop and advisory cross-border financial services for foreign-related small and medium-sized enterprises.

From April to September this year, the Bank of Chengdu will launch preferential enterprise activities for the above six major projects of “rongyihui”. For example, for the long-term settlement and sales of foreign exchange of “long-term hedge treasure”, the Bank of Chengdu can obtain a subsidy of 80bp at the signing exchange rate; The international trade financing interest rate of “cross-border finance and profit” is 50% off; Measures such as online banking remittance for “e-settlement of foreign exchange” and full subsidy for document service fees for “fast and easy documents” not only provide professional, efficient and convenient cross-border financial services for small and medium-sized enterprises, but also use real gold and silver to reduce the burden of small and medium-sized enterprises and minimize the comprehensive financial cost of enterprises.

The solution point is to improve the exchange rate hedging ability of enterprises

In recent years, the RMB exchange rate has fluctuated significantly, and the demand of enterprises for exchange rate hedging has become increasingly urgent. After investigation, Bank of Chengdu found that many enterprises, especially small and medium-sized enterprises, still have practical difficulties in exchange rate hedging.

In order to improve the exchange rate hedging enthusiasm of enterprises, the Bank of Chengdu actively implemented the long-term foreign exchange settlement and sales business policy under the guarantee. In November 2021, it successfully handled the long-term foreign exchange settlement under the guarantee for a garment export enterprise, becoming the first batch of local legal person banks to implement this business.

At the beginning of this year, the general office of the State Council issued the “opinions on doing a good job in cross cycle regulation and further stabilizing foreign trade”, calling for improving the exchange rate hedging awareness and ability of foreign trade enterprises. As the first local legal person bank qualified for derivatives business in Sichuan Province, Bank of Chengdu innovated and launched the characteristic service of “long-term hedging treasure”, fully integrated the advantages of direct handling, real-time quotation, efficiency and convenience of the head office, provided personalized exchange rate hedging schemes for enterprises, and effectively helped solve the pain points and difficulties in exchange rate risk management such as “unable to do, unwilling to do” of small, medium-sized and micro enterprises. It is understood that since the launch of “forward hedging treasure”, Bank of Chengdu has provided exchange rate hedging support for nearly 20 enterprises, involving a business amount of US $320 million.

Improve quality and efficiency and help facilitate and efficient cross-border trade

With the rapid development of China’s foreign trade, enterprises have greater demands for the efficiency and convenience of financial services.

Chengdu bank “rongyihui” not only brings real gold and silver to enterprises, but also provides enterprises with more quality and effective cross-border financial services by improving their internal control and financial service capabilities.

In cross-border payment, there are long-term problems, such as time-consuming, difficult to query the arrival status, opaque intermediate deduction and so on. The characteristic financial service “exchange express” of Bank of Chengdu “rongyihui” effectively realizes the rapid arrival and accurate tracking of cross-border collection and payment funds by relying on the clearing network in major financial centers around the world, the world’s leading Account banks and the support of swift GPI (Global Payment innovation) service. This business has an online and offline multi-channel processing mode, which can provide enterprises with the convenience of “staying at home” for business processing.

Another pain point in handling cross-border payment business is “many data requirements and complex processes”. As the first batch of pilot banks to obtain trade foreign exchange revenue and expenditure facilitation in Sichuan Province, Bank of Chengdu has greatly simplified cross-border receipt and payment documents and business processing processes, greatly improving the business processing efficiency of enterprises. Up to now, Bank of Chengdu has handled facilitation business for relevant enterprises with a total amount of more than 270 million US dollars.

“We will rely on the ‘rongyihui’ cross-border financial service brand to provide cross-border financial protection for the majority of foreign-related small and medium-sized enterprises, and continuously improve the efficiency of cross-border financial services while benefiting enterprises.” The relevant person in charge of the International Business Department of Bank of Chengdu said that under the support and guidance of the Sichuan Branch of the State Administration of foreign exchange, the activity of “increasing convenience, avoiding foreign exchange risks and benefiting the people’s livelihood” will be deepened, so as to effectively reduce the burden on market players, create a better business environment and contribute more to the construction of a high-quality open economic system in Chengdu.

This year, the covid-19 pneumonia epidemic continues to relapse and the international situation becomes more and more complex. In order to effectively help enterprises to relieve the difficulties and boost market confidence, the Chengdu Bank launched the “cross border financial services brand” featuring the “Sichuan Yi Hui” feature cross border financial services brand launched in April in the activities of “facilitating convenience, avoiding foreign exchange insurance and improving people’s livelihood”. A series of preferential activities such as reduction and exemption of document business handling fees and 50% discount of international trade financing interest rate. Real gold and silver handle cross-border financial burden reduction for small and medium-sized enterprises.

Benefit people’s livelihood and reduce the burden of enterprises with real gold and silver

It is understood that the Bank of Chengdu “rongyihui” integrates six characteristic services, including “rapid exchange, e-settlement of foreign exchange, long-term hedging treasure, quick and easy documents, easy cross-border financing and profit, and one-stop capital access”, which effectively solves the actual pain points of cross-border financial business of foreign-related enterprises and provides one-stop and advisory cross-border financial services for foreign-related small and medium-sized enterprises.

From April to September this year, the Bank of Chengdu will launch preferential enterprise activities for the above six major projects of “rongyihui”. For example, for the long-term settlement and sales of foreign exchange of “long-term hedge treasure”, the Bank of Chengdu can obtain a subsidy of 80bp at the signing exchange rate; The international trade financing interest rate of “cross-border finance and profit” is 50% off; Measures such as online banking remittance for “e-settlement of foreign exchange” and full subsidy for document service fees for “fast and easy documents” not only provide professional, efficient and convenient cross-border financial services for small and medium-sized enterprises, but also use real gold and silver to reduce the burden of small and medium-sized enterprises and minimize the comprehensive financial cost of enterprises.

The solution point is to improve the exchange rate hedging ability of enterprises

In recent years, the RMB exchange rate has fluctuated significantly, and the demand of enterprises for exchange rate hedging has become increasingly urgent. After investigation, Bank of Chengdu found that many enterprises, especially small and medium-sized enterprises, still have practical difficulties in exchange rate hedging.

In order to improve the exchange rate hedging enthusiasm of enterprises, the Bank of Chengdu actively implemented the long-term foreign exchange settlement and sales business policy under the guarantee. In November 2021, it successfully handled the long-term foreign exchange settlement under the guarantee for a garment export enterprise, becoming the first batch of local legal person banks to implement this business.

At the beginning of this year, the general office of the State Council issued the “opinions on doing a good job in cross cycle regulation and further stabilizing foreign trade”, calling for improving the exchange rate hedging awareness and ability of foreign trade enterprises. As the first local legal person bank qualified for derivatives business in Sichuan Province, Bank of Chengdu innovated and launched the characteristic service of “long-term hedging treasure”, fully integrated the advantages of direct handling, real-time quotation, efficiency and convenience of the head office, provided personalized exchange rate hedging schemes for enterprises, and effectively helped solve the pain points and difficulties in exchange rate risk management such as “unable to do, unwilling to do” of small, medium-sized and micro enterprises. It is understood that since the launch of “forward hedging treasure”, Bank of Chengdu has provided exchange rate hedging support for nearly 20 enterprises, involving a business amount of US $320 million.

Improve quality and efficiency and help facilitate and efficient cross-border trade

With the rapid development of China’s foreign trade, enterprises have greater demands for the efficiency and convenience of financial services.

Chengdu bank “rongyihui” not only brings real gold and silver to enterprises, but also provides enterprises with more quality and effective cross-border financial services by improving their internal control and financial service capabilities.

In cross-border payment, there are long-term problems, such as time-consuming, difficult to query the arrival status, opaque intermediate deduction and so on. The characteristic financial service “exchange express” of Bank of Chengdu “rongyihui” effectively realizes the rapid arrival and accurate tracking of cross-border collection and payment funds by relying on the clearing network in major financial centers around the world, the world’s leading Account banks and the support of swift GPI (Global Payment innovation) service. This business has an online and offline multi-channel processing mode, which can provide enterprises with the convenience of “staying at home” for business processing.

Another pain point in handling cross-border payment business is “many data requirements and complex processes”. As the first batch of pilot banks to obtain trade foreign exchange revenue and expenditure facilitation in Sichuan Province, Bank of Chengdu has greatly simplified cross-border receipt and payment documents and business processing processes, greatly improving the business processing efficiency of enterprises. Up to now, Bank of Chengdu has handled facilitation business for relevant enterprises with a total amount of more than 270 million US dollars.

“We will rely on the ‘rongyihui’ cross-border financial service brand to provide cross-border financial protection for the majority of foreign-related small and medium-sized enterprises, and continuously improve the efficiency of cross-border financial services while benefiting enterprises.” The relevant person in charge of the International Business Department of Bank of Chengdu said that under the support and guidance of the Sichuan Branch of the State Administration of foreign exchange, the activity of “increasing convenience, avoiding foreign exchange risks and benefiting the people’s livelihood” will be deepened, so as to effectively reduce the burden on market players, create a better business environment and contribute more to the construction of a high-quality open economic system in Chengdu.