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Showing posts with label china. Show all posts
Showing posts with label china. Show all posts

Tuesday, 20 June 2017

07:52

Working Capital -Bank Acceptance Draft (BAD) Issuance

Working Capital -Bank Acceptance Draft (BAD) Issuance
Improve your working capital by deferring payments
Increase the efficiency of your working capital and defer payment on purchases by issuing a Bank Acceptance Draft (BAD). It is widely accepted in China where you can assure your suppliers of payment and improve relationships by issuing a BAD to cover the cost of the goods you receive. In turn, your suppliers can obtain up to 100% financing with a BAD, and often offer discounts as a result. Choose from a range of amounts and tenures up to six months or a year* to meet your needs. We also offer a consulting service to help you with any concerns or issues you may have with your suppliers.
As required by PBOC, starting from 1 January 2017, all commercial drafts worth RMB 3 million or more must be handled through electronic system (ECDS); from the beginning of 2018, all commercial drafts worth RMB 1 million or more should be in principle issued electronically. For more details, please click here.
Why choose DBS Bank Acceptance Draft Issuance?
  • Defer paying for your purchases by up to six months or a year*
  • Leverage DBS’ reputation and relationship with banks in China
  • Issue BADs for a minimum commission of just 0.05%
  • Choose a draft amount and tenure to suit your business needs
  • Assure your suppliers of payment upon draft maturity
  • Enhance your relationship with suppliers, who can obtain up to 100% financing based on your BAD
  • Resolve issues with your suppliers with advice from our consultancy service
Source:DBS
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Sunday, 19 March 2017

11:34

Chained Finance:BlockChain

Chained Finance:BlockChain

Chinese online lender Dianrong and iPhone manufacturer FnConn this week announced the launch of Chained Finance, the first-ever blockchain platform for supply chain finance. 
The new platform leverages advanced financial technology to meet the hugely underserved needs of supply chain finance in China.
Supply chain finance companies have been limited by existing technology and, to date, have only served about 15 percent of suppliers needing financial resources.  As a result, the vast majority of the 40 million SMEs in China remain unserved.  Chained Finance enables supply chain finance to deliver needed capital to smaller supply chain suppliers and provide large multinational manufacturers with enhanced visibility and transparency.
The two companies recently completed a successful pilot and proof of concept of Chained Finance by securing funding for small and medium enterprises in China that were otherwise unable to secure needed capital.  Chained Finance originated US$6.5 million in loans for these SME supply chain operators.
Chained Finance is initially targeting three major industries: electronics, auto and garment manufacturing.  It is expected that Chained Finance could help supply chain finance operators potentially triple the number of SME supply chain operators with access to funding in China.
“Blockchain is revolutionizing the finance industry and offers seamless solutions to any company operating and financing complicated supply chains,”
said Soul Htite, Founder and CEO of Dianrong.
“The complexity and scale of supply chain finance has posed major challenges in ensuring adequate funding and efficient operations.  Chained Finance creates a unique ecosystem that will provide supply chains with easier access to funding at competitive rates.”
This notable use for blockchain could have global significance, for example in the construction sector where subcontractor chains are notoriously long.

Source:NextMoney



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Sunday, 27 March 2016

19:21

The SBI bank hopes to bridge that gap for China Potential Investors

The SBI bank hopes to bridge that gap for China Potential Investors 

The State Bank of India will on Monday for the first time launch a dedicated China desk for potential investors.

The State Bank of India (SBI) will on Monday for the first time launch a dedicated "China desk" for potential investors, underlining the growing importance of the world's second largest economy as the Narendra Modi government looks to push its "Make in India" initiative.

Bank officials told India Today this will be the first ever China dedicated desk at any Indian bank, and will follow a Japan desk that was set up in New Delhi by the bank last month.

The China desk will operate out of Shanghai, where SBI opened the first Indian bank branch on the Chinese mainland in 2006. The bank also has a branch in Tianjin in the north.

"The China desk will coordinate with SBI India and provide handholding and financial advisory services for Chinese investors," said K Swaminathan, the bank's Chief Executive Officer (Designate) in China.

The Shanghai-based desk will be handled by Chinese banking executives, Swaminathan said, and will be led by Jean Liu, a banking executive who worked earlier for several Chinese and foreign investment banks in China.

The launch of the desk comes at a time when India is courting Chinese investment to push the "Make in India" initiative and for a number of infrastructure projects, including industrial parks for automobiles, power, solar projects and real estate developments.

While there is increased interest among Chinese companies on account of both the slowdown in China and the renewed emphasis in New Delhi on seeking investment from China, officials in both countries acknowledge that translating the interest into on-the-ground investments has proved difficult.

The bank hopes to bridge that gap, SBI officials said, and will offer for Chinese investors, in Shanghai and elsewhere, hand holding services, and, through the bank's investment banking subsidiary SBI Capital Markets, assistance on company formation in India, joint ventures, funding tie-ups and debt raising.

Source:India Today

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Sunday, 27 December 2015

09:52

Peer to peer lending is where China has to get smart

Peer to peer lending is where China has to get smart

An overly regulated structure will not help get funding to those who need it most

In October, China’s leaders revealed details of the 13th Five-Year Plan, which will guide the economy’s trajectory until 2020.

Gone are the directives to expand industrial production at a breakneck pace that characterised previous five-year plans. Now, the focus is on achieving sustainable long-term growth, underpinned by domestic consumption, a stronger services sector, entrepreneurship, and innovation.

The internet — which already has more than 680 million active users in China — will play a key role in facilitating this shift. In particular, online peer-to-peer (P2P) lending, a streamlined approach to credit allocation, may hold the key to expanding and deepening China’s financial sector, enabling firms to grow and innovate, and bolstering domestic consumption.

In online P2P lending, individual (and, lately, institutional) investors provide funds that can be lent out to individual borrowers, without involving a traditional financial intermediary. Loans can range from 100 yuan (Dh56.83, $16) to 1 million yuan, and target small and medium-size enterprises (SMEs), as well as individual borrowers, that currently struggle to access credit through traditional institutions.

Over the last three years, China’s P2P lending sector has been growing annually at an astounding average rate of 245 per cent, with its total value reaching 253 billion yuan last year. China now has more than 2,000 registered active P2P loan platforms, up from just 50 four years ago.

Even so, P2P lending still accounts for just a small fraction of overall lending in China. Last year, total loans issued through peer-to-peer networks were equivalent to just 1.5 per cent of the 15.1 trillion yuan in consumer loans issued by Chinese banks.
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Monday, 23 November 2015

18:32

China CITIC, Baidu to launch direct bank in online finance push

China CITIC, Baidu to launch direct bank in online finance push

BEIJING

Nov 18 China CITIC Bank Corp Ltd and Baidu Inc on Wednesday said they plan to set up a direct bank to capitalize on China's booming online finance market, in the country's first tie-up between an Internet firm and a lender.

CITIC and Internet search provider Baidu would initially invest 2 billion yuan ($313.34 million) in cash as registered capital for the venture, dubbed Baixin Bank, CITIC said separately late on Tuesday.

CITIC said without providing details that it would take a controlling stake in the direct bank, and that the partners are awaiting a direct banking license. A direct bank offers services over the Internet or telephone instead of through branches.

Baixin Bank would be the latest investment in Chinese online finance where technology giants, financial conglomerates as well as hundreds of startups are offering a range of financial products via the Internet and mobile devices.

Online finance arms of Baidu tech peers Alibaba Group Holding Ltd and Tencent Holdings Ltd already offer such services as third-party payment, small loans and wealth management products.

Traditional lenders, led by Industrial and Commercial Bank of China Ltd , have responded by launching e-commerce platforms and moving financial services to mobile devices.

The latest partnership would combine CITIC's financial products with Baidu's massive online traffic data.

CITIC Chairman Chang Zhenming, in a joint statement on Wednesday, said Baixin Bank will "better meet the growing needs" for financial services from credit-starved small businesses.

Baixin Bank is "an entirely new model of 'Internet + banking'," Baidu Chairman and Chief Executive Robin Li said in the statement.

CITIC suspended trading of its Shanghai-listed shares on Monday pending an announcement. Trading resumed on Wednesday, with the stock rising as much as 4 percent.

Baidu's New York-listed shares closed down 1 percent on Tuesday.

($1 = 6.3828 Chinese yuan renminbi) (Reporting by Shu Zhang and Matthew Miller; Editing by Christopher Cushing)

Source:Reuters.com
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Friday, 20 November 2015

22:59

China busts biggest “underground bank”

China busts biggest “underground bank”

Beijing has announced a crackdown on the country’s biggest “underground bank” which handled $64 billion (410 billion yuan) of illegal foreign-exchange transactions. China is currently boosting efforts to curb capital outflows and fight corruption.

The bank transferred money overseas using non-resident accounts, exploiting regulatory loopholes and bypassing oversight, according to the government.

More than 370 people have been arrested, some face lawsuits or criminal charges, the People’s Daily reports citing police officials.

Chinese authorities started raiding underground banks in April. Since then they have revealed over 170 cases of money laundering and illegal fund transfers totaling more than 800 billion yuan ($125.34 billion). Police have shut down 37 banks.

Around 100 suspects from eight suspected gangs have been detained during the investigation which was launched last year. According to the police, the gangs have been led by a ringleader, who operated dozens of shell companies in Hong Kong. The companies were reportedly involved in foreign exchange transactions and money laundering.

"Many customers wanted to avoid China's strict supervision on foreign exchange trade. The gang could earn over 50,000 yuan ($7,834) a day thanks to this," a gang leader told Xinhua News Agency.

Capital outflow accelerated in China this year. Chinese nationals have been moving their money offshore over fears of a weakening economy and with confidence that investments were safer outside the country.

The government has already taken restrictive measures to prevent the capital flight. In September, China cut the annual limit of cash which Chinese bank card holders could withdraw abroad next year to 100,000 yuan (about $15,730). Previously, the daily cash withdrawal limit was 10,000 yuan ($1,573).

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