To help the development of foreign trade, China CITIC Bank's first "second issuance" full-process online L/C business was launched in Xiamen Branch.
ITG is the "Best Strategic Customer for International Business" of China CITIC Bank, and the two parties work together to promote the development of international business.
China CITIC Bank Xiamen Branch provides door-to-door guidance services for enterprises.
"The application for the opening of an international letter of credit can be completed in a few seconds at the earliest, and the whole process can be handled online, which can be operated directly with the enterprise office system, which greatly improves the work efficiency. Recently, Xiamen International Trade Group Co., Ltd., a core member of the world's top 500 enterprises and a national key supply chain enterprise, successfully handled the first online L/C business of "second issuance" through the cross-border treasury bank-enterprise intelligent connection system customized and developed by China CITIC Bank Xiamen Branch. This is the first bank and enterprise in Xiamen to initiate the whole process of letter of credit issuance, document delivery, acceptance, payment and other full-process business through the internal ERP system (enterprise resource planning system), which truly realizes the whole process of "automatic second-level credit use", and it is also the positive response of China CITIC Bank Xiamen Branch to the State-owned Assets Supervision and Administration Commission of the State Council "Opinions on Promoting Central Enterprises to Accelerate the Construction of Treasury System and Further Strengthen Fund Management" (hereinafter referred to as "No. 1 Document") on the establishment of treasury system requirements of central state-owned enterprises, and the implementation of the government work report Promote the optimization and upgrading of the industrial chain and supply chain".
Digital intelligence integration technology leads to provide comprehensive services for the treasury system
In February 2023, China CITIC Bank launched the "Tian Yuan Treasury" management system that integrates digital intelligence, becoming the first commercial bank in the industry to have comprehensive service capabilities for the corporate treasury system.
According to reports, the "Tian Yuan Treasury" management system of China CITIC Bank has the advantages of full business scope, deep functions, strong penetration and excellent experience, and comprehensively covers the 11 construction contents of "No. 1 Document", helping the group to coordinate the scheduling and allocation of financial resources, and tailor-made from the perspective of customers to meet the management needs of enterprises in "account, settlement, capital, financing, supply chain, domestic and foreign", so as to achieve global visibility, controllability and traceability of financial resources. The cross-border treasury bank-enterprise intelligent connection system launched this time is an innovative R&D and customized service carried out by China CITIC Bank Xiamen Branch under the framework of the "Tian Yuan Treasury" management system of the head office, focusing on the personalized business development needs of enterprises.
Treasury construction empowers foreign exchange services to help improve cross-border treasury management
Since obtaining the foreign exchange business qualification in 1987, China CITIC Bank has been deeply rooted in the field of cross-border finance, continuously investing in scientific and technological research and development, and continuously optimizing service processes and improving customer experience through the application of digital technology. In this context, in order to help the construction of cross-border treasury of central state-owned enterprises to achieve "visible, manageable, mobilizable, and well-used" as the starting point, China CITIC Bank highlights its international business advantages, focuses on cross-border and foreign exchange business and exchange rate risk management, and has built a cross-border treasury service system with comprehensive capabilities and functions around the "two centers" of cross-border and foreign exchange business and exchange rate risk management, and has achieved the implementation of treasury cross-border products with 42 central enterprise groups, especially SWIFT AMH, cross-border RMB CIPS direct connection, online centralized management of international documents, Foreign Exchange Trading Connect is the first of its kind in the industry.
The launch of the "second issuance" full-process online L/C business is a typical demonstration of key enterprises in China CITIC Bank's cross-border treasury service supply chain. In the two weeks since its launch, a total of 51 online businesses have been launched, of which nearly 10 have been issued, realizing full online services under the condition that the internal processes of the enterprise remain unchanged, with a convenient business system and a clear visible process, which has won unanimous praise from enterprises.
The relevant person in charge of Xiamen ITG Group Co., Ltd. said that ITG attaches great importance to digital construction, and this time it has jointly developed cross-border L/C bank-enterprise direct connection with China CITIC Bank to achieve real-time centralized monitoring of business, reduce cross-departmental communication costs, and help enterprises reduce costs and increase efficiency.
The relevant person in charge of China CITIC Bank Xiamen Branch said that the international business of China CITIC Bank adheres to the focus on the "ecological and digital" product and service reengineering, and gives full play to the advantages of cross-border business through the "credit foreign exchange +" service system, so as to contribute CITIC's strength to the overseas treasury management of cross-border enterprises.