office of silver insurance regulatory commission recently issued a "about pushing supply chain financial service of the real economy guidelines" (hereinafter referred to as "opinions"), "opinion" to guide the bank insurance agency standard to carry out the supply chain finance business, the trust, factoring, private equity funds, such as internet financial enterprises of supply chain finance business institutions, also has a strong guiding significance.
we will rely on serving the real economy
the so-called supply chain finance refers to providing comprehensive financial products and services to upstream and downstream enterprises in the supply chain by relying on core customers and taking real trade background as the premise, using self-compensating trade financing, closing capital flow or controlling property rights through professional means such as pledge registration of accounts receivable and third-party supervision. china has previously issued a number of policies to encourage the development of supply chain finance, all bearing the brand of supporting "real economy" and "small and micro enterprises".
for example, in october 2017, the guidance on actively promoting innovation and application of supply chain issued by the general office of the state council clearly pointed out that supply chain finance should be actively yet prudently developed to promote supply chain finance to serve the real economy. on april 7 this year, the general office of the cpc central committee and the general office of the state council jointly issued the guidance on promoting the healthy development of small and medium-sized enterprises (smes), calling for the study and promotion of smes relying on accounts receivable, supply chain finance, franchising and other financing.
the opinions released by the bank insurance regulatory commission also emphasized once again that supply chain finance is based on serving the real economy. "the opinions" pointed out that supply chain finance should "take market demand as the orientation, focus on supporting industrial chain enterprises that conform to the direction of national industrial policy, focus on the real economy, and have advanced technology and market competitiveness".
zhou zhihan, general manager of kaixin financial service, believes that the vitality of supply chain finance lies in the real economy, which is the "floodgate" for small and micro enterprises and private enterprises. one of the reasons many institutions are reluctant to serve small businesses is that they do not have the credit to finance them. however, through supply chain finance, the credit between core enterprises and upstream and downstream enterprises is interlinked.
for example, upstream enterprises apply for receivables pledge financing, which means they have provided qualified products and services for core enterprises. when payment days expires, they will receive the payment from core enterprises. the credit of this payment is similar to the credit of the core enterprise itself, which realizes the transfer of the credit value of the core enterprise to the upstream and downstream small, medium and micro-sized enterprises, making it easier to attract financial institutions to provide services. as the credit of upstream and downstream enterprises increases, the financing cost will decrease correspondingly. that is to "opinion" special emphasis on "financial services to the upstream supply chain front terminal extension and the downstream consumption, providing financial services covering the whole industry chain", "strengthen the supply chain upstream and downstream small micro enterprises, private enterprises, financial support, improve the financial service coverage, accessibility and convenience, reasonable loan time limit, efforts to reduce the financing cost" basis of reality.
there are no shortcuts to risk control
"the opinions" attaches great importance to preventing supply chain financial risks, proposing to "establish and improve the risk control system for the whole supply chain financial chain, according to the characteristics of supply chain financial business, improve the pertinence and effectiveness of risk management in each link before, during and after the event, to ensure the flow of funds to the real economy".
supply chain finance enables financial institutions to serve small and micro enterprises and private enterprises with important risk control. however, in the process of specific business management, they still need to be alert to potential operational risks and moral risks. this is also the place where problems are most likely to occur in the process of business operation. many cases of "mine explosion" are not caused by the mode of supply chain finance, but by the inadequate implementation of personnel in charge. for example, recently there are some organizations "tare thunder" supply chain accounts receivable financing, not insisting on the core enterprise to sign the right is a very important reason.
"the safer way is for two people to go to the final debtor's office, and the senior management who has the right to sign the contract in person on behalf of the debtor, and record the confirmation process by taking photos or video. in the process of signing in person, we should also pay attention to whether the signature is in compliance to prevent someone from forging." zhou zhihan said, "sometimes also need to supplement the core enterprise guarantees, buyback. "these measures may seem traditional, but they are very effective in preventing risks, and the increased trust of core enterprises can reduce the financing costs of upstream and downstream enterprises to some extent."
the opinions also highlighted the need for cross-validation of information and the use of emerging technologies to strengthen authenticity checks. for example, it shall strengthen the monitoring of the operation status of core enterprises and the transaction status between core enterprises and upstream and downstream chain enterprises, analyze the historical transaction records of supply chain, and strengthen the tracking and management of logistics, information flow, capital flow and third-party data. according to introducing, xin clothing research and development of supply chain finance system, you can access the core enterprise erp system, read with the upstream and downstream enterprises of business data, and connected to the china association of internet financial credit information sharing system, the highest judicial big data system, and the network, such as third-party data source, to cross validation of supply chain project information, and to achieve the online electronic contract, and can effectively prevent fraud information, signature the possibility of fraud.
actively introduce financial technology to improve service efficiency
a large part of the traditional supply chain finance business needs to be carried out offline, which is not only time-consuming and costly, but also prone to fraud, data loss and lack of "trace" records in business handling, data transfer and other links.
for this purpose, the "opinions" put forward to online business innovation and development, "the use of the internet, the internet of things, chain blocks, biological recognition, artificial intelligence technology, with the core enterprise chain upstream and downstream enterprises of the supply chain cooperation building services such as financial services platform, improve risk control techniques and models, innovation and development online financial products and services, implementation of online examination and approval and lending, better meet the demand of enterprise financing".
"the supply chain system we developed for core enterprises realizes the online business. small and micro enterprises in the supply chain can register as members online, check materials and apply for financing. after the successful application, funds can be transferred online, greatly improving the efficiency of business handling." zhou zhihan said.
in addition to transforming businesses with information technology, the guidelines also call for using cutting-edge technologies, strengthening authenticity checks and improving the efficiency of risk control. for example, new technologies such as the internet of things and blockchain are embedded in the transaction link, and mobile sensing video, electronic fence, satellite positioning, radio frequency identification and other technologies are used for remote monitoring of logistics and inventory goods to improve the level of intelligent risk control.
zhou zhihan indicated that this point has the instruction significance to the stock pledge financing supply chain finance pattern. "the main assets of some dealers are the goods in the warehouse. if these goods are standardized products, the value is easy to evaluate, but the difficulty is that it is very difficult to send people to guard the warehouse in 7×24 hours. "if we can use technology to electronically label goods and record their value, location, and movement in and out of the warehouse, then we can monitor the value of goods more efficiently, and then finance based on that." zhou zhihan said.
source: china financial news