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Bank-Enterprise Interactive Platform Helps SMEs Succeed

To meet the regulatory requirements of CBRC and CBRC Shanghai for guiding the financial industry to serve small and micro enterprises, CMB Shanghai Branch initiated its “Eagle” program last year to integrate innovative financial services for SMEs in line with national goals. 

The program was supported by the Science & Technology Commission, Financial Office, SME Office of Shanghai Municipal Government, the management committees of local industry parks, VCs, PEs and various enterprises in Shanghai. In the past year, CMB Shanghai Branch has organized nearly 100 walk-in events for small and micro enterprises. It also set up dedicated teams in various parks to ascertain the financial needs of SMEs and provide consultancy services based on detailed records. They emphasized the benefits of CMB services, especially the efficiency and operability of financing support, leading many SMEs to use CMB products.

The Eagle program builds a service mode for SMEs in emerging industries based on the following eight innovative services that cover the whole life cycle of enterprises: supply chain financing, cross-border trade financing, fund management and control, corporate wealth management, talent retention, HK IPO underwriting, and debt financing tools. By creating equity investment service platforms and innovative debt financing products, CMB combines indirect financing through banks with direct financing through capital markets to tailor integrated financial services for innovative, growing enterprises.

To meet the requirements of small and micro enterprises for high capital turnover and flexible and efficient financial services, ICBC Shanghai Branch has implemented a new credit review system that streamlines the traditional review process and increases efficiency. T This is consolidated by state-of-the-art technologies for optimizing business processes. The bank’s four-in-one system integrates rating, credit, collateral appraisal and business review to standardize business processes and improve service efficiency and quality.  ICBC Shanghai has also designed an innovative risk management system, an independent risk control system, and a mechanism for differentiating customer admission and credit management. Through internal collaboration and synergizing with investment banks and settlement, globalization, card, and e-banking departments, ICBC has expanded technology-based financing into a one-stop service solutions for small and micro technical enterprises.

Jiangsu Bank Shanghai Branch has created a bank-enterprise interactive platform. The branch recently ran a seminar on financing and wealth management for SMEs, and invited over 50 members of the Jiangsu Chamber of Commerce in Shanghai to discuss the development of SMEs and the common issues that create financing difficulties. They introduced the financial services and cooperation platform for SMEs, resulting in cooperation intent on both sides. 

Under the direction of CBRC Shanghai, the process of serving SMEs by the financial industry is gaining momentum. Financial institutions are replicating best practices, implementing social responsibility programs, increasing public and commercial awareness, and strengthening their marketing and service systems. Currently, all Shanghai banks are implementing various initiatives to extend financial knowledge and services in communities and industry parks, based on the “walk-in” events.