In recent years, the mainland has attached great importance to the development of the private economy and has introduced a number of measures to promote the healthy development of the private economy, thus injecting new vitality into the private economy. Commercial banks should actively respond to the call of the state, accelerate the formulation of financial service measures to support private enterprises, launch financial products that meet the characteristics of private enterprises, and support the development of private enterprises through product innovation.
According to the characteristics of private enterprises to design financial products that meet the requirements of private enterprises, at the same time, we should continue to pay attention to the new situation and new characteristics of the development of the private economy, carry out financial product innovation, through innovative products, respond to the needs of private enterprises, provide high-quality services, and promote the development and growth of private enterprises.
Bank of Nanjing, Information Technology Department, Zhang Yinchuan
Analysis of the characteristics of the private economy
1. Characteristics of private enterprises
According to the statistical division standard, the private economy is composed of two parts: private enterprises and individual economies, of which private enterprises are the main components. Private enterprises have the following characteristics.
Private ownership: Private enterprises are usually privately owned, which determines that the pursuit of profit is also one of its important characteristics.
Self-management decision-making: Because private enterprises are mostly privately owned, they can operate and make decisions independently in accordance with legal conditions.
Market competition: Private enterprises compete fully in the market, and it is usually difficult to form a monopoly in a certain industry.
Profit pursuit: The main goal of private enterprises is to pursue corporate profits, which is also the goal of ordinary enterprises.
Flexibility and innovation: Private enterprises have flexibility in operation and the courage to innovate and constantly introduce new products.
Autonomy and efficiency: Private enterprises have strong autonomy and pursue to improve efficiency due to their ownership and dominance.
Diversity and family-owned enterprises: The structure of private enterprises is diverse, and many private enterprises are family-owned, especially in the early stages of private enterprise development.
2. Characteristics of the private economy
The private economy has the following characteristics.
Rapid growth: Since the reform and opening up, the private economy has developed at a relatively fast pace, and it occupies an important position in the mainland's economic development.
Strong innovation ability: The private economy has strong innovation ability and promotes the continuous development of the industry.
Flexibility and adaptability: The private economy has strong flexibility and adaptability, and can adjust its business strategy in a timely manner according to policy and market changes.
High degree of marketization: private economic entities fully participate in market competition, constantly adapt to market changes, and develop and grow in competition.
Diversification of industrial structure: The private economy has the characteristics of diversification, which enriches the industrial system.
Strong employability: The private economy has played an important role in promoting employment and effectively alleviating the pressure on social employment.
Increasing degree of internationalization: The degree of internationalization of the private economy has been continuously improved, and many private enterprises have grown into large-scale enterprises participating in international market competition.
Enhancement of social responsibility awareness: With the continuous development of the private economy and the continuous improvement of standardization, the awareness of social responsibility of private enterprises has gradually increased, and they continue to give back to the society and practice social responsibility while making profits.
Commercial banks should launch financial products according to the characteristics of private enterprises and the private economy, and at the same time continue to carry out product innovation according to the new trend of the development of the private economy, such as the introduction of foreign trade foreign exchange-related products that meet the needs of private enterprises, such as letters of credit, innovative applications of export bills, etc., in view of the increasing internationalization of the private economy.
Commercial banks focus on strengthening product innovation
Taking the Bank of Nanjing as an example, this paper discusses the product innovation ideas of commercial banks for the private economy. In response to the call of the state, Bank of Nanjing has researched and launched a number of measures to support the development of the private economy, and designed and developed a variety of financial products according to the characteristics of private enterprises, helping them reduce costs and increase efficiency, and continuously enhance their competitiveness.
1. Collaborative credit loans
Bank of Nanjing Shanghai Branch and Hangzhou Branch cooperated to implement the bank's first collaborative credit business, and provided syndicated loans for the merger and acquisition of a private enterprise in Zhejiang. The total amount of the merger and acquisition syndicate is 5 billion yuan, and Bank of Nanjing is the participating bank, and the host bank Shanghai Branch and the co-organizer Hangzhou Branch jointly invested 233 million yuan. This business is the first collaborative credit cooperation business under the bank-wide collaborative credit cooperation model, and it is also one of the most complex M&A transactions in which Bank of Nanjing has participated in the largest amount. This is the first phase of the private enterprise's domestic and overseas restructuring transactions, and it is expected that the second phase of the M&A transaction will be launched next year.
After obtaining the business clues, the Shanghai Branch quickly started to report, and the head office and branch efficiently collaborated and adopted the business model of collaborative credit, and finally completed the smooth implementation of the business with the full cooperation of the Hangzhou Branch, once again demonstrating the efficient and professional financial service level of Bank of Nanjing.
2. "Su Travel Loan" product
"Su Travel Loan" is a special financial product jointly developed by the Jiangsu Provincial Department of Culture and Tourism, Bank of Nanjing, and the Provincial Credit Insurance Group to serve the development of the province's cultural and tourism industry.
According to the relevant arrangement, Bank of Nanjing, as the only cooperative bank in the province, will provide the first phase of 1 billion yuan of loan scale for "Suzhou Travel Loan", which is mainly used to further expand the financing channels of cultural and tourism enterprises, support enterprise innovation and entrepreneurship, transformation and upgrading, and help solve the dilemma of difficult financing and expensive financing for small and medium-sized enterprises in cultural tourism.
The "Su Travel Loan" product is not only a specific content of deepening strategic cooperation and the "234" joint action plan, but also an important measure to implement the spirit of the Central Financial Work Conference. Bank of Nanjing will provide sufficient credit resources, a fast-responding service team, and efficient approval channels to ensure the effective implementation of the "Suzhou Travel Loan" product, and contribute financial strength to the implementation of the action plan for financial support for cultural and tourism consumption and the high-quality development of the cultural and tourism industry in Jiangsu Province.
Zhenjiang Branch of Bank of Nanjing landed the province's first "Su Travel Loan" business, and Zhenjiang Branch successfully issued a working capital loan of 10 million yuan to a travel agency Co., Ltd. in Yangzhong City, marking the successful landing of the province's first "Su Travel Loan" business. After the release of the "Su Travel Loan" product, Zhenjiang Branch quickly promoted it according to the relevant deployment requirements of the head office, and Yangzhong Branch carried out visits and marketing to the "white list" enterprises on the same day. After the target customers are determined, the three levels of the head office and branch actively cooperate closely and cooperate closely, from customer acquisition to business landing, Yangzhong Sub-branch only took one week, fully demonstrating the speed and determination to serve customers, and effectively helping enterprises solve financing problems.
Bank of Nanjing will take the successful issuance of this loan as an opportunity to further consolidate the customer base of cultural tourism technology, promote the development of small, medium and micro enterprises in cultural tourism with high-quality financial services, and contribute to the high-quality development of culture and tourism.
3. "Xin e science and technology enterprise" and "enterprise Xin Lian tax"
In order to further improve the service quality and efficiency of Bank of Nanjing and the competitiveness of its products in the market, give full play to the empowerment effect of online, automated and digital business, take into account the compliance operation and the full release of front, middle and back office production capacity, and improve the one-time completion rate of credit execution, Bank of Nanjing has launched the online contract signing and lending function.
"Xin e science and technology enterprise" and "enterprise Xin Lian tax" business adopts credit and guarantee guarantee methods; If the risk sharing model is added, businesses that do not need to sign an offline single guarantee contract with the guarantee company can be included in the scope of application.
For existing customers, the borrower must go to the counter to sign the corporate electronic contract, and the guarantor opens a personal professional version of mobile banking. For new customers, the borrower can open an account, open a public online banking, sign a corporate electronic contract and the guarantor's personal professional mobile banking at the counter. The small and micro account manager can carry the Pad to complete the personal professional version of the guarantor's mobile banking at the due diligence site. The Small Business Finance Department of each branch took the lead in formulating the specific requirements for the use of the branch's online contract signing and lending functions, accelerated the implementation of the new process, realized the full use of the application of customer managers, and fully improved the efficiency of private enterprise affairs.
4. "Provincial Xin Loan" products
A large private enterprise is a global group company integrating intelligent manufacturing and intelligent services of auto parts, and Bank of Nanjing completed the first online withdrawal of the "Provincial Xin Loan" business for the private enterprise, which is the first business launched after the official release of the "Provincial Xin Loan" product of Bank of Nanjing.
In January 2024, Bank of Nanjing officially launched the "Shengxin Loan" online revolving loan product, focusing on monthly/quarterly capital turnover needs with a "worry-free and interest-saving" service model, aiming to improve the high-frequency and short-term capital use experience of non-small enterprise customers. After the product was released, Hangzhou Branch responded quickly, actively looking for suitable customer groups, and promoted the cooperation intention of many enterprises within 3 working days after it was launched. Subsequently, the head office and the Hangzhou branch and the sub-branches under its jurisdiction efficiently coordinated and linked, opened up a green business approval channel, and the Hangzhou branch signed the "Provincial Xin Loan" business agreement with Tieliu Co., Ltd., and completed the first loan landing within a week, winning the recognition of customers with professional and efficient service level.
5. Digital RMB bonds
With the promotion of e-RMB, more and more private enterprises have begun to use e-CNY for payment and settlement. Bank of Nanjing Beijing Branch actively implemented the requirements of the digital RMB pilot project of the head office, and landed the first digital RMB ultra-short-term financing bond for a financial leasing company of a central enterprise. The total amount of ultra-short-term financing bonds issued in this issue is 1 billion yuan, and Bank of Nanjing is the main underwriter. In the process of handling the business, the total score was linked, responded quickly, and under the coordination of the Beijing branch and multiple departments, jointly formulated the business plan, completed the wallet opening, limit modification, position reporting, and the test of redemption and redemption in a very short time, and finally realized the successful implementation of the business, realized the expansion and implementation of the application scenarios of digital RMB in the financial field, and also made a demonstration and guidance for the whole bank.
Bank of Nanjing participated in the 4th China-Singapore Digital Finance Application Expo
6. Resale and resale of debt financing instruments
Bank of Nanjing, as the exclusive resale professional institution, successfully completed the resale and resale of directional debt financing instruments for a tourism development company in Nanjing, and finally all the directional debt financing instruments of 460 million yuan in the current period survived. This business is the first non-financial enterprise debt financing instrument resale and resale business implemented by Bank of Nanjing after the National Association of Institutional Investors launched the pilot project of debt financing instrument resale and resale business. Significantly reduce the financial pressure on the issuer's resale of bonds, the principal of 460 million yuan of resold bonds is fully extended, the coupon rate is significantly lower than that before the exercise, and the financing cost of the next option period is significantly reduced, effectively helping the issuer to reduce financing costs.
The full existence of the resale and resale business reflects the value recognition of investors for the issuer, and is also the embodiment of Bank of Nanjing's all-round practice of serving customers, marking a new breakthrough in the field of tenure management of debt financing instruments with rights.
7. Foreign currency against foreign exchange swap transactions under free trade
Bank of Nanjing Shanghai Branch successfully landed the bank's first foreign currency-to-foreign exchange swap transaction in the accounting unit of the free trade zone. The currency of the transaction is EUR/USD, the amount is EUR 35 million, and the term is 1 year. In the process of handling this business, the Shanghai Branch, the relevant sub-branches and relevant departments of the head office worked together to discuss and design the transaction portfolio plan, accurately match the actual needs of customers, implement the transaction details and online simulation of the whole process of the system, and finally realized the smooth implementation of the business, and also brought a considerable amount of precipitated funds to the Shanghai Branch.
The conclusion of this transaction has helped the company to better manage the exchange rate risk, effectively locked in the financial cost of the enterprise, and better reflected the professional and efficient foreign exchange service level of Bank of Nanjing. Forex-related business is suitable for large private enterprises with cross-border business.
8. "Su Zhi Loan" products
In January 2024, Bank of Nanjing Yancheng Branch successfully issued a working capital loan of 8 million yuan to a new energy company in Jiangsu. This loan became the first business of Bank of Nanjing after the official release of the "Su Zhi Loan" product. After Bank of Nanjing launched the "Suzhi Loan", Yancheng Branch made rapid progress, cooperated with the local intellectual property office to quickly determine the target customers and finalize the financial service plan, opened up a green approval and loan channel, and completed the approval and loan lending in only 3 working days, which was highly recognized by the enterprise.
The handling of this loan has revitalized the intellectual property rights of the enterprise, turned "intellectual property" into "assets", and helped the transformation and rapid development of the enterprise's scientific research achievements, which is also an important measure for Bank of Nanjing to improve the intellectual property financial service system and promote the close integration of modern finance and intellectual property. Private enterprises can apply for loans from Bank of Nanjing with relevant certificates of intellectual property rights.
9. "Su Quality Loan" products
In February 2024, Bank of Nanjing Yancheng Branch successfully issued a working capital loan of RMB 5 million based on the "Su Quality Loan" model to a machinery manufacturing company in Jianhu, which became the first business of the bank after such loans were included in the provincial inclusive financial development risk compensation fund. Bank of Nanjing formally signed a cooperation agreement with the Jiangsu Provincial Department of Finance and the Jiangsu Provincial Administration for Market Regulation, and included Bank of Nanjing's "Su Quality Loan" business into the scope of the above-mentioned fund. Under the guidance and support of the line department of the head office, Yancheng Branch seized the opportunity, acted quickly, quickly cut into the key enterprises with high quality and good reputation, and after reaching the cooperation intention, implemented the linkage of multiple line departments of the branch, and quickly advanced through the green approval and loan channel, and completed the access, approval, parallel operation and loan lending in only two working days, and won the recognition of customers with professional and efficient service level.
"Su Quality Loan" is a financial product that provides customized financing credit for high-quality enterprises that pay attention to quality management and promote quality benchmarking, which can transform intangible assets reflecting the quality level of private enterprises into tangible assets of bank credit.
10. Process robot automatic RPA products
Bank of Nanjing promotes the automatic RPA product of process robots to corporate customers, and RPA process robots mainly realize process automation by connecting multiple business systems in series, replace manual processing of repetitive work, and reduce the risk of manual operation. Bank of Nanjing uses RPA robots to empower corporate customers, realizes the iterative upgrading of corporate services from "financing" to "financial intelligence", realizes the technological empowerment of 89 key customers and 178 scenarios, effectively improves the work efficiency of corporate customers, liberates the productivity of corporate customers, benefits private enterprises, deepens the stickiness of banks and enterprises, and improves business returns.
(This article was published in the first half of April 2024)