On February 23, Bank of China (BOC) spokesman Mr. Wang Zhaowen made an introduction to a new trade-financing product developed by BOC----Export Quanyida. Based on the development trend of foreign trade export businesses in China in recent years and actual needs of export enterprises, BOC developed the powerful and convenient trade financing product package ----Export Package Financing Solution to satisfy the business needs of export enterprises.
Wang Zhaowen pointed out that with the deepening of the foreign trade system reform and vigorous growth of export enterprises began to have more advanced trade services needs. How to turn the receivable accounts to cash income, how to remove the risks of credit, exchange rate and interest rate in the export process, and how to optimize the financial statement management have become the focus of large export enterprises represented by listed companies and large-scale enterprises. To satisfy the new demands, BOC has strived to combine the trade services products and previous trade financing products and created the product package of Export Package Financing Solution.
He mentioned that there were three “completeness” in the characteristics and advantages of Export Package Financing Solution: 1) Complete services----the product package was powerful in function and could satisfy the financing needs of enterprises before and after shipment, help enterprises mitigate the credit, exchange rate, interest rate and country risks, and manage receivables. 2) Complete process. BOC developed special solutions regarding the process of taking orders, preparing goods, shipment, settlement, etc and gave much support during the whole export process. 3) Complete efforts. The experienced professionals of BOC shall work out the solutions to the problems faced by export enterprises. The products for customized package could be selected by the export enterprises for their convenience; all types of packages could satisfy various demands of export enterprises. The packages shall be beneficial to the trade expansion of export enterprises and help them compete in the world market.
The spokesman also stated that in the near future BOC shall take advantage of the BOC strengthens in human resources, technology, network, etc. and develop more international settlement and trade financing product combination similar to Export Quanyida and provide more efficient services for export enterprises to promote the healthy development of foreign trade in China.
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