The Central Financial Work Conference proposed five major articles including green finance. Recently, the National Development and Reform Commission released data showing that my country’s new energy vehicle production and sales in 2023 will reach 9.587 million and 9.495 million respectively, ranking first in the world for 9 consecutive years. The new energy vehicle industry will become the brightest light in economic development in 2023. color. The Bank of Shanghai seizes the strategic opportunities for the development of the new energy automobile industry, regards serving the development of the new energy automobile industry as an important focus of green finance, and continuously improves the quality and efficiency of financial services for all links of the new energy automobile industry chain to provide services for new energy automobiles. The high-quality development of the industry injects new momentum to help it overtake in corners.
Comprehensive financial stability and enterprise chain
Smart cars are on the fast track
“If you think of a car as a robot, all the lenses on the car are its eyes, the many sensors are its tentacles, the microphones are its ears, the speakers are its mouth, and the intelligent core algorithm for interaction is its brain.” In Extreme At the electric car brand launch conference, the brand manager was introducing the first AI car robot to the public.
With the rapid development of the new energy vehicle industry, new energy vehicles are moving in a more intelligent and technological direction. Behind the brand’s “sense of technology” and “future value” of electric vehicles, which has aroused industry attention, is also the financial support of the Bank of Shanghai.
Jiji Electric Vehicles was established in 2021 as a joint venture between domestic Internet giants and traditional car companies. The equity structure was established overseas, and capital was injected into the country through FDI through the Hong Kong parent company. It has branches in Beijing and Shanghai. Multiple shareholding structures and multi-location operating models also pose many challenges to cooperative banks.
Because it is optimistic about the development of the new energy vehicle industry, the Bank of Shanghai has paid close attention to the company since its establishment, and mobilized key personnel to form a special service team to formulate short-term, medium-term and long-term service plans based on the company’s operating characteristics. In the early stage of the service, Bank of Shanghai will build a package of financial services that combines capital business, domestic floating loans, external deposits and domestic loans, and cross-border capital pools to help enterprises get started smoothly as soon as possible. In just two months, Bank of Shanghai completed the entire process from first contact to credit approval, providing strong support for enterprises to take root in Shanghai. In the mid-term service period, with the core of serving the production capacity construction of enterprises, the special service team mobilizes multiple online and offline resources to provide maximum assistance to the business operation and development of Shanghai Bank’s foreign exchange business facilitation measures. After becoming the core cooperative bank of enterprises, Bank of Shanghai relies on the supply chain of enterprises in the Yangtze River Delta region to provide supply chain financial services to enterprises in the chain, and contribute financial strength to the integrated development of the new energy automobile industry in the Yangtze River Delta region.
Supply chain finance actively expands the chain
Power batteries move towards a new “lithium” journey
Driven by the growth in the production and sales of new energy vehicles, China’s power battery installation volume has surged, and the industry has entered the fast lane of rapid development. Among them, lithium batteries have become the biggest driving force for new energy vehicles to achieve overtaking in corners.
Shenzhen Yinghe Technology Co., Ltd. (referred to as “Yinghe Technology”) is the first listed company in the lithium battery equipment industry. It has been deeply involved in the lithium battery intelligent equipment industry for many years. It is currently one of the few companies in the world that can provide complete line solutions for lithium battery digital factories. , serving many well-known car companies such as CATL, BYD, and Volkswagen. Since the Bank of Shanghai cooperated with Yinghe Technology in 2020, it has carried out business cooperation in comprehensive credit, account settlement, bill financing and other aspects, and has gradually established business cooperation relationships with core subsidiaries. Relying on Yinghe Technology’s supply chain network of “serving the global equipment world”, Bank of Shanghai has jointly built a platform with enterprises to provide all-round and comprehensive financing, payment settlement, cash management, etc. for upstream and downstream customers in the industry chain at each transaction node. Process and systematic comprehensive financial services accelerate financing efficiency, broaden financing channels, and greatly improve the availability of financing funds for suppliers.
So far, Bank of Shanghai has served more than 170 companies in the lithium battery equipment supply chain of Yinghe Technology, of which more than 90% are inclusive customers, helping companies deeply integrate into the global industrial chain and value chain system.
The rapid development of the new energy vehicle industry plays a vital role in achieving net-zero emissions globally. In the future, Bank of Shanghai will actively implement the major strategic deployment of the Party Central Committee and the State Council on “carbon peaking and carbon neutrality”, and conduct detailed research on the main tracks of the new energy vehicle industry based on regional endowments, industry trends and corporate characteristics, and provide guidance for the industry. The core enterprises in the chain provide customized and differentiated comprehensive financial services and actively contribute the wisdom of Shanghai Banking Group to the high-quality development of the new energy industry.