Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Finance

Large banks helping small firms access loans

By Jiang Xueqing | China Daily | Updated: 2020-07-08 10:02
Share
Share - WeChat
A client manager (right) of Agricultural Bank of China Ltd visits the production line of Zhejiang Fenghuachuangxin Micro-Electronics Co Ltd in Jinhua, Zhejiang province, in March. [Photo provided to China Daily]

Collateral-free products backed by big data become key channels for providing financial support to first-time borrowers

Big data has become key for the expanded reach of large banks to micro and small-scale enterprises that have never received bank loans before as the Chinese government urges banks to increase lending to small businesses-especially first-time borrowers-amid the novel coronavirus pandemic.

Online small loan products backed by big data analytics are important channels for China Construction Bank Corp, a major State-owned commercial lender, to further expand its customer base to micro and small businesses that have never received bank loans.

The bank's branch in Zhejiang, a province where micro and small enterprises flourish, signed cooperation agreements with dozens of government departments, leading companies and credible third-party platforms. They became sources of data based on which the bank developed a "quick loan" product series targeting micro and small-scale businesses.

For instance, the State Taxation Administration gave CCB access to companies' tax payment data. The bank designed a loan product based on the tax payment data and the fundamental state of each small business.

If a business owner has good credit history and pays taxes dutifully and honestly, he or she can use CCB's small business loan application software to assess how large a credit line the bank might extend to the company and later the owner can apply for a collateral-free bank loan.

The bank has developed a loan product series for small businesses through cooperation with external institutions including State Grid Corporation of China.

By digging into data provided by external institutions and its own data of transactions and settlement of enterprises in the upstream and downstream supply chain, the bank uses algorithms to decide the maximum amount of credit it extends to a small business.

At the end of May, the outstanding balance of CCB's "quick loan" product series amounted to 38.7 billion yuan ($5.5 billion) in Zhejiang province. The nonperforming loan ratio of this product series was 0.52 percent. Among the total, the balance of collateral-free loans was 8.74 billion yuan, said Yang Xizhou, chief manager of the inclusive finance department of CCB's Zhejiang branch.

"Our collateral-free loan products are very attractive to micro and small-scale enterprises. They have become an important means for us to broaden our range of customers to small businesses that have never obtained loans from banks before. Micro and small-scale businesses can apply for loans at our bank without collateral using their data collected by the government and credible third-party institutions partnering with us," Yang said.

From the beginning of this year to the end of May, 881 micro and small business clients received bank loans for the first time at CCB's Zhejiang branch. The average outstanding balance of their loans was 641,800 yuan per borrower.

The bank stepped up risk management of collateral-free small business loans after the pandemic broke out, requiring staff to pay more return visits to clients, strengthen post-loan management and pay close attention to client data cross-checking. If significant changes occur in client data, the bank will provide early warnings to its branches and subbranches.

1 2 Next   >>|
Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
主站蜘蛛池模板: 日韩精品亚洲专区在线影视| 亚洲人成伊人成综合网久久久| 亚洲日本乱码一区二区在线二产线| 亚洲国产AV一区二区三区四区| 久久精品国产亚洲精品2020| 中文字幕在线免费观看| spoz是什么意思医学| 12345国产精品高清在线| 青青青伊人色综合久久| 精品欧美一区二区在线观看| 波多野结衣未删减在线| 最新中文字幕电影免费观看| 成人精品视频一区二区三区| 国模欢欢炮交啪啪150| 国产成人无码一区二区三区在线 | 国产精品国语自产拍在线观看| 国产午夜精品一区二区三区漫画| 午夜一级做a爰片久久毛片| 亚洲无砖砖区免费| 中文字幕在线播放| 57pao一国产成视频永久免费 | 免费在线h视频| 精品欧洲男同同志videos| 欧美另类videosbestsex高清| 成年丰满熟妇午夜免费视频| 国产精品无码免费播放| 四虎在线视频免费观看| 日本亚洲黄色片| 狼狼综合久久久久综合网| 日韩乱码人妻无码中文字幕| 天天干天天色综合网| 国产又色又爽又黄的| 亚洲第一永久在线观看| 中文字幕加勒比| 亚洲精品一二区| 狠狠色综合色区| 日日碰狠狠添天天爽超碰97| 国产精品无码无片在线观看| 北条麻妃国产九九九精品视频| 九九电影院理论片| 99久久无色码中文字幕人妻|