With the rapid development of internet finance and bill business, the traditional business mode serving paper bills through offline manual operation has become bottleneck restricting the development of bill market. Therefore, ICBC has innovated the “Internet + Bill” business mode by launching the ICBC electronic bill trading platform at the beginning of 2015, which made the bill financing serve the real economy in a more efficient and high-quality way while enhancing the efficiency of bill trading and cutting down the trading cost. As at the end of November, ICBC electronic bill trading platform has posted a transaction volume of over RMB 1 trillion.

According to an ICBC official, based on its “e-Buy” e-commerce platform, ICBC electronic bill trading platform is a service platform developed to provide comprehensive services including free offer, transaction matching, bill trading, fund settlement, risk control, statistics and analysis and information support. This platform enables the customer to release offer information, accurately match trading requirements and efficiently and securely complete the change of bill ownership and fund settlement, thus establishing electronic bill trading process and further improving customer’s experience.

ICBC has endeavored to promote the innovation and development of bill business in recent years. It has established the first bill business institution in China in 2000, and developed a mature management mode and an effective risk management structure based on its extensive experience in dedicated, professional and integrated operation. As at the end of October 2015, ICBC Bills Business Department posted a transaction volume of RMB 17 trillion, providing strong liquidity to the growth of real economy. In addition, by focusing on the needs of the real economy and the convenience of bill trading, ICBC has vigorously boosted the electronic bill trading. It has built up three service platforms including agency access of electronic bill, bill asset custody and electronic bill trading, which enhanced the efficiency of bill trading and cut down the trading cost while effectively controlling risks.