OREANDA-NEWS.  June 18, 2012. The First China (Beijing) International Fair for Trade in Services (hereinafter referred to as CIFTIS) was recently held at the China National Convention Center in Beijing. As one of the financial institutions exhibitors, Beijing Branch of Agricultural Bank of China (ABC) launched a brand-new look, offering a rich financial feast for domestic and overseas customers.

ABC Beijing Branch presented multiple financial products at CIFTIS to boost "exchange and cooperation among worldwide service traders". With a service philosophy of "customer first", it won wide recognition from both exhibitors and visitors, reported the press-centre of ABC. 

In response to asset management needs of service and trade enterprises at CIFTIS, ABC Beijing Branch promoted the cash management brand of "Sailing on a Cloud • Cash Management". This is intended to provide customers with effective asset management and account management, collection and payment services, liquidity management, investment and financing services, supply chain financing service, risk management, or any combination of these services. The cash management system covers county-level and above outlets in China. The Bank-Enterprise Express Platform offers customized functions, the Bank-Enterprise Linkage Platform realizes seamless linkage with corporate ERP or financial/asset management system, and the Bank-Bank Linkage Platform realizes effective link with systems of other banks. Together, they can meet different demands of various customers.

Targeting SMEs engaged in trade and services at CIFTIS, Beijing Branch introduced the product of "Simple and Quick Loans for Small Enterprises". The product must be secured with full and valid collateral (pledges) or a guarantee by a professional guarantee company. Loans are extended based on the collateral (pledge) value and guarantee amount. Without requiring separate credit rating or uniform credit extension, the product can facilitate credit extension and financing businesses on and off the balance sheet such as loans, trade financing, bill acceptance, discount, bank guarantee and L/C. The product is featured by low threshold, high credit line, flexible guarantee, and convenient usage.

Meanwhile, the branch also launched innovative financial products such as accounts receivable financing under export credit insurance, accounts receivable pledge loans, industrial premises mortgage loans of small enterprises and innovation fund loans. These products will greatly ease the difficulty in getting loans and expanding business of small and micro businesses, and was clearly a hit with SMEs at the fair. ABC Beijing Branch also took the lead in Beijing to set up two financial service centers for SMEs in Haidian and Chaoyang districts with combined financial management. It has established an all-round one-stop financial service platform integrating securities, insurance, PE and evaluation. In response to the "short, small, frequent and urgent" features of small enterprises loans, it added independent approvers to expand approval authority and set up approval express channels. It also implemented the mode of joint work and quick approval, and required investigation, review, and approval processes to be completed within time limits. Through all these measures, it has substantially improved the lending efficiency.

Targeting import and export traders at CIFTIS, ABC Beijing Branch offered international settlement service, which provides global clearing service in nearly 100 foreign currencies. It also featured remittance products to meet individualized needs. Meanwhile, it is capable of providing global RMB clearing service, of real-time transfers via Hong Kong and Macao. The service's strengths include avoiding risk of exchange rate fluctuation, reducing remittance fees and speeded up clearing. In 2011, the number of the branch's outlets providing cross-border financial services reached over 300, and international settlement volume increased by 47.40% year on year. Its corporate customers were engaged in major industries including energy, mineral, automobile, aviation and communication.

With a history of over 60 years, ABC achieved total assets of over RMB12.56 trillion at the end of the first quarter this year. As the backbone of Beijing's financial sector, ABC Beijing Branch has actively supported government of various levels and subordinate organizations in recent years, achieving a total of over RMB500 billion intentional financing. In cooperation with Beijing-based central-owned enterprises and key local enterprises, the branch made RMB500 billion in loans in terms of the strategic cooperation agreement. In supporting renovation of urban villages in Beijing, the branch topped its peers in terms of credit support scale, making an active contribution to social stability. Consequently, the branch has won high recognition from the municipal party committee and government of Beijing.

As a state-level, international and comprehensive fair for trade in services, CIFTIS currently is the only comprehensive trading platform in the world. It covers the 12 sectors of trade in services defined by the WTO such as business services, communication services and financial services. It is a major channel for China to boost the services industry and trade in services and accelerate the transformation of economic development pattern. It is committed to becoming an important channel for China's services industry to "bring in" and "go global", a trusted window for release of information and policies concerning trade in services, and a bridge of exchange and cooperation among worldwide service traders. It aims to serve as the most authoritative and influential state-level, international and comprehensive trading platform in trade in services, and give new impetus to the services sector and trade in services of China and the world.