Editor’s note: In 2023, Bank of Shanghai will celebrate its 28th year of working hand in hand with the public. Over the past 28 years, Bank of Shanghai has taken root on the banks of the Huangpu River. It has always adhered to serving the real economy, actively integrated into regional development, fully served the strategic overall situation, resonated with the reform and opening up, and fulfilled its responsibilities for society and people’s livelihood. From now on, the “Shanghai Bank Micro News” will launch a series of reports on the 28th anniversary celebrations, using practical actions to write the people’s financial answer for the people’s city.
In order to further improve the long-term mechanism of Shanghai’s inclusive financial services “Dare to lend, willing to lend, able to lend, and will lend”, the inclusive financing model of “credit insurance + guarantee + bank” is innovatively upgraded to better serve foreign trade, promote stability and improve quality, and effectively do a good job in promoting the stability of foreign trade. Hui Finance is a great article. On December 28, the Financial Services Shanghai High-Quality Development Promotion Meeting for Foreign Trade was held. Wang Ping, Deputy Secretary-General of the Shanghai Municipal People’s Government, attended the meeting and delivered a speech. Municipal Local Financial Supervision Bureau, Municipal Commerce Commission, Municipal Finance Bureau, Shanghai Supervision Bureau of the State Administration of Financial Supervision and other departments as well as relevant financial institutions participated. Hu Debin, Vice President and Chief Information Officer of the Bank of Shanghai, attended the meeting and made an exchange speech.
Developing inclusive finance is not only the responsibility of commercial banks, but also an inevitable step for their own transformation and development. Bank of Shanghai has always been based on serving the real economy, implemented national policies, and explored providing diversified and multi-level financial services and support for the real economy and small and micro enterprises. Since 2004, Bank of Shanghai has continued in-depth cooperation with China Credit Insurance Corporation in cross-border syndicated trade, overseas investment insurance and other aspects. In November 2022, the “one-stop” inclusive financial service platform for small and micro enterprises “Upward Benefit Accompanying” was launched, relying on technology empowerment to continuously improve the coverage of inclusive financial services. In early February 2023, together with China Sinosure Shanghai Branch, under the coordination of Shanghai’s “Single Window”, the “Sinosure Quick Loan” policy financing product for foreign trade small and micro enterprises was launched on the “Upside Benefit Accompanying” platform, realizing insurance policies and loss transfers. Real-time interaction of agreements and foreign trade data provides enterprises with a convenient service experience throughout the online process.
Hu Debin pointed out that since the establishment of the Municipal Financing Guarantee Center in 2016, Bank of Shanghai was the first to carry out business cooperation. It has always regarded the guarantee fund business as a key work of inclusive finance of Bank of Shanghai, and jointly innovated the “batch business model” and “online filing” in the industry. Model”, achieving digital transformation of business and rapid development of scale.
He said that this time, taking the opportunity of the innovation and upgrading of the “Sinosure + Guarantee + Bank” inclusive financing model, the Bank of Shanghai, China Sinosure and the Municipal Financing Guarantee Center expanded the scope of business cooperation, jointly launched the “Shanghai Trade Batch Loan”, and promoted the white list The sharing of high-quality enterprise information will provide more comprehensive, efficient and high-quality financial services for small and micro enterprises.
At the meeting, the organizer introduced the upgraded version of the “Credit Insurance + Guarantee + Bank” inclusive financing model to the participating representatives, held a signing ceremony for three-party cooperation in financial services for the high-quality development of foreign trade, and released the “List of Tripartite Cooperation on Credit Insurance Financing to Serve the High-quality Development of Shanghai’s Foreign Trade” ( 2024 Edition)”, the “Shanghai Single Window” credit insurance financing service foreign trade high-quality development platform has also been officially launched.
Small and micro enterprises are the main channels for employment and a new force in development. It is the bounden duty of commercial banks to serve the real economy, especially small and micro enterprises. In the future, the Bank of Shanghai will fully implement the spirit of the 20th National Congress of the Communist Party of China and the work arrangements of the Central Economic Work Conference and the Central Financial Work Conference, play an important role in stabilizing foreign trade, make good use of policy export credit insurance, policy guarantees and the synergy of banks, and continue to Explore product upgrades to further improve the financing availability of foreign trade small and micro enterprises, “protect” foreign trade enterprises, and work with all sectors of society to achieve the great goal of “inclusive finance”.