Bank, government and insurance cooperate to provide services for enterprises
- Details
- Category: Ningbo Business
- Published: Monday, 16 March 2015 11:02
Recently, the Zhengzheng E-commerce Co. Ltd. obtained a loan of three million yuan from the bank for overseas purchase. "With the support form the government, banking and insurance companies, we will continue to maintain the high-speed growth in 2015, and the sales volume is expected to reach 600 million yuan." said Yao Zhengzheng, General-manager of the company.
The "cross-border pass", a kind of loans jointly launched by the administrative committee of Ningbo Bonded Zone, the Ningbo branch of CCB, and Ningbo branch of PICC, with the aim of share the risks for enterprises, reducing financing costs and relieve the enterprises’ capital pressure, is the first professional financing product for cross-border e-commerce enterprises launched by the financial institutions in Ningbo. Zhengzheng E-commerce and Zhonghe Fushi have become the first two enterprises to obtain the loans, with the capitals of three million yuan and 1.5 million yuan respectively.
The "cross-border pass" operates in the following way. Firstly, the administrative committee of Ningbo Bonded Zone will recommend high-quality cross-border e-commerce enterprises, and the PICC will assess the candidate enterprises as a third-party guarantee agency and then give the list to the CCB to form the target client group of the small and micro enterprises. Based on that, the administrative committee will provide a risk compensation for 10% of the credit amount, and the enterprises concerned will pay 2-5% as an aiding insurance, before the PICC provides a 50% guarantee and the CCB offers the loans. The financing cost will be controlled with an annual interest rate of below 8%, and the capital can be recycled within a year.
Since the official operation of the cross-border e-commerce transaction at Ningbo Bonded Zone, the sales have multiplied. By the end of 2014, the sales volume of the 117 pilot cross-border e-commerce enterprises approved by Ningbo Customs had exceeded 350 billion yuan.
