Tianjin innovates to create a new business card and format for supply chain finance, assisting small and micro enterprises in financing

In the past two years, due to the combined influence of multiple factors both domestically and internationally, China's industrial and supply chains have faced unprecedented challenges. How to maintain and strengthen the chain, smooth the economic meridians, and solve the financing difficulties of small and medium-sized enterprises on the chain has also become another important driving force for financial innovation in Tianjin. Against this backdrop, the new business card of supply chain finance that Tianjin has been dedicated to creating is gradually emerging, and related innovative practices have bloomed and borne fruit in many parts of the country——

At present, Henan Province, known as the "Central Plains Grain Warehouse," is experiencing a period of wheat harvesting and storage, and many grain buyers are in urgent need of centralized grain purchase funds. Due to the lack of collateral and other reasons, it is difficult for them to obtain financing from banks themselves. CITIC wutong Port Supply Chain Management Co., Ltd. (hereinafter referred to as wutong Port), a platform company from Tianjin Pilot Free Trade Zone, is addressing its urgent needs. The solution is to replicate and promote the Tianjin "movable property pledge financing business model" nationwide.

Direct attack on market pain points and build a bridge between capital and industry

Chattel pledge financing refers to enterprises using their chattels or warehouse receipts as collateral to obtain financing from financial institutions such as banks, in order to broaden their financing channels. So, what is the "movable property pledge financing business model" innovatively launched by Tianjin?

Or focus the camera on the land of Central Plains and see how those grain buyers have obtained financing through this model——

The grain seller transports the grain to the designated grain warehouse, and their ID card and license plate information are synchronously linked to the public security system for verification. At the same time, the information of the grain delivery vehicle is also recorded in the system for subsequent management and tracking.

The designated granary is a digital warehouse built by wutong Port using the Internet of Things, blockchain, big data and other technologies. With the help of digital technology, the weight, grade, and other information of carts of wheat are scanned and stored one by one, and the grain condition after storage is monitored in real-time. Therefore, each batch of goods in the warehouse corresponds to a unique digital identification. Wutong Port synchronously pushes all the movable property information to the system of Henan Zhongyuan Bank, a local cooperative bank. At this point, grain buyers apply for financing from Zhongyuan Bank online. As the bank has real wheat acquisition information and uses it as collateral, they will be relieved to transfer the money to the grain buyers.

A similar scenario is also presented in the land of Qilu. Garlic in Jinxiang, Shandong is a national landmark product and a characteristic agricultural product vigorously developed in the local area. In the process of collecting and storing garlic, many acquirers can easily obtain funds "timely rain" from Rizhao Bank with the help of the trusted warehouse receipts provided by wutong Port (further generate warehouse receipts from movable property information).

"As a new supply chain management platform, wutong Port is a bridge between the capital end and the industry end," said Kang Hongxia, deputy general manager of the strategic development department of wutong Port.

As is well known, traditional movable property warehouse receipt pledge financing business, due to information opacity, leads to repeated pledges, false warehouse receipts, and multiple sales of goods, which seriously affects the enthusiasm of financial institutions to carry out this business. To solve this pain point, it is necessary to provide the bank with trusted underlying assets as a key proof of confirming the authenticity of goods information.

Market demand is the driving force for innovation, and the Tianjin Pilot Free Trade Zone has pioneered the concept of trustworthy warehouse receipts nationwide.

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The article is sourced from the Internet of Things

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