Commissioned L/C is a service provided to customers who import through their overseas affiliates. Upon customers’ request, CMB’s domestic branches will commission its overseas linked platforms (including CMB’s offshore financial centers/CMB Wing Lung Bank/Overseas Branches) to issue letter of credit (L/C) and provide other needed trade financing based on the applications of customers’ overseas affiliates. Commissioned overseas financing is a service whereby CMB’s domestic branches, upon customers’ request, commission their overseas linked platforms (including CMB’s offshore financial centers/CMB Wing Lung Bank/Overseas Branches) to provide needed trade financing based on the applications of customers’ overseas affiliates, or other trade financing under the commissioned L/C.

Any corporate customer that is established in mainland China, has branches or affiliates abroad, and imports and procures via overseas affiliates. Such overseas affiliates make payment to suppliers via L/C (commissioned L/C), collection and T/T, and need trade financing (commissioned financing).

Commissioned L/C: A commissioned L/C will meet the needs of domestic enterprises’ overseas affiliates when such enterprises need to import through their overseas affiliates and their overseas suppliers demand payment via L/C. Commissioned overseas financing: The commission overseas financing can lower funding costs. Our overseas linked platforms can provide trade financing to customers’ overseas affiliates to reduce their cost of import financing, breaking the limit to their domestic financing scale.

Back-to-back letter of credit is an L/C issued by CMB’s domestic branches upon request of customers and in favor of their overseas affiliates (hereinafter referred to as “parent L/C”). On the strength of the parent L/C, our overseas linked platforms will issue back-to-back L/C to overseas suppliers based on overseas companies’ applications (hereinafter referred to as “child L/C”).

（1）On the strength of L/C, customers can use their domestic creditability in overseas market. Overseas affiliated company can use domestic companies’ credit line, and obtain back-to-back L/C quota on CMB’s overseas linked platforms in order to support their exporting activities.

（2）Lowering financial costs: Moving businesses’ financing channels from domestic market to overseas market will help to lower businesses’ financial costs.

（3）Reducing pressure in payment. By adjusting the payment days for domestic and overseas companies, domestic companies can delay the purchase of foreign exchanges consequently reducing pressure in payment.

（4）Helping businesses build credit record abroad and boosting the strength of the overseas platform; helping businesses explore international market and accumulate experience in international operation; and facilitating overall tax arrangements of domestic and overseas companies.

Commercial paper guarantee is a service whereby domestic customers make payment to overseas companies via documentary collection, CMB’s domestic branches provide guarantee on commercial paper which is issued by the domestic bank and accepted by the domestic company as payer. After that, CMB’s overseas linked platforms will provide trade financing services to overseas companies within the scope of guarantee provided by domestic branches.

Any corporate customer that is established in mainland China, and procures via overseas branches or affiliates. Such overseas affiliates make payment to suppliers via collection or T/T.

（1）Through overseas trade financing, companies can lower import financing costs and address the difficulties arising from limited access to domestic credit.

（2） Commercial papers that are guaranteed by CMB’s domestic branches are standard and assignable assets. CMB can handle financing needs under commercial paper guarantee via D/A forfaiting. By doing this, CMB can use outside funds and price advantages to meet customers’ needs.

Overseas credit line backed by letter of guarantee is a service whereby CMB’s domestic branches, upon request of domestic customers, issue letter of guarantee for payment (including standby letter of credit) of trade that have assignment terms, with overseas companies as beneficiaries and overseas linked platforms as the sole assignees. After such overseas companies assign the receipt rights under the L/G (without recourse) to the overseas linked platforms, such platforms will issue related certificates and provide financings to such overseas companies.

Any domestic company that purchases raw materials and services via overseas affiliates. Such overseas affiliates make payment to suppliers via letter of credit, collection or T/T. Domestic companies can provide L/G for payment, thereby allowing overseas companies to obtain trade financing.

Customers may lower import financing costs via overseas trade financing, and address the restrictions on the scale of their domestic borrowings.

Through train for cross-border trade financing is a service whereby CMB’s domestic branches review and approve financing applications submitted by domestic companies under cross-border trades. In such service, domestic branches will assume all credit risks, and the overseas linked platforms will provide trade financing to such domestic companies (in RMB only for the time being). The service includes import trade financing (including import advance payment financing), export trade financing (including export order financing) and service trade financing.

Any customer that needs RMB trade financing under export and import of goods and services.

（1）Offshore RMB trade financing at low costs.

（2）Extensive coverage of financing types, applicable to various trade financing for import and export, or service trade.

（3）Customers don't need to set up overseas platform companies, or open overseas accounts.

（4）The application process is easy and simple, and CMB’s domestic branches will provide one-stop services.