Home >News Updates >ICBC News
ICBC Supports the Canton Fair with Globalized and Smart Services

On April 24, 2021, the 10-day 129th China Import and Export Fair (Canton Fair) came to a close. As financial service supplier and global partner for investment and exhibition promotion of the fair and exclusive financial supporter for “Canton Fair dual-circulation promotion events”, ICBC provided exhibitors and buyers with online/offline, domestic/overseas, onshore/offshore and financing/settlement-integrated financial services. Over the 10 days, the Bank cumulatively granted over RMB7 billion credit online to nearly 3,500 fair merchants. Specifically, it released around RMB4.5 billion financing to more than 1,000 Guangdong-based exhibitors, and processed nearly 16,000 cross-border settlement transactions such as remittance, letter of credit and collection, valued RMB11.7 billion in total.

During the fair, ICBC focused on enabling convenient and efficient service experience via “Digital ICBC”. In its service section at Canton Fair, the Bank surveyed financial needs of domestic and overseas exhibitors and buyers, and provided them with exclusive product packages accordingly, including exclusive loans, cross-border settlement, cash management, corporate account opening, smart customer service and business matchmaking. “ICBC Business Matchmaker” independently developed by the Bank especially attracted 2,600 exhibitors to join. Meanwhile, ICBC launched the “financial support for the dual-circulation new development pattern” program, which accurately matched the financial interests of enterprises engaged in domestic and foreign trade, sci-tech innovation and cross-border e-commerce and enterprises that go global, and was highly recognized by the exhibitors.

Jianhua Group, a leader in Chinese pipe pile industry that has “gone global”, said, “With the help of ICBC’s integrated financial solution, the Group realized smooth operation. For instance, ICBC online supply chain financing realized replacement of paper vouchers with electronic data and offered a new way of financing for the Group and our upper- and down-stream businesses.” According to high-tech Guangzhou CanSemi Technology Inc., “ICBC’s customized and integrated service solution covered FT account cross-border financial service and exchange risk management. It materialized sufficient credit support for us and injected energy to our operation and development.”

While ensuring sound financial services at the enterprise end, ICBC relied on its globalized operation network to actively engage in global merchant recruitment of Canton Fair. It launched business promotion in countries such as Argentina, Peru, Australia, Thailand and Vietnam, etc., and recruited nearly 1,900 overseas merchants.