Fu Maozan, President and CEO of uob (China), said: "This year marks the 30th anniversary of the establishment of diplomatic relations between China and Singapore, as well as the 10 anniversary of the establishment of the ASEAN Free Trade Area. The cooperation between China and ASEAN, especially Singapore, has made great achievements in joint work and production resumption, value chain and digital innovation. In the first three quarters, ASEAN also became China's largest trading partner, and its import and export trade volume reached a new high. As one of the banks with the widest business network in Southeast Asia, we also hope to fully demonstrate our network advantages in ASEAN and our in-depth understanding of the ASEAN market through the platform of China International Import Expo (CIIE), as well as our long-term commitment to help customers grasp cross-border business opportunities between China and ASEAN. "
Despite the multiple uncertainties in the market, the economic interaction between China and ASEAN has not weakened this year.
Data show that in the first three quarters of this year, the cumulative growth rate of China's goods trade turned positive, with the import and export trade volume of China-ASEAN reaching 3.38 trillion yuan, which ushered in a new economic growth point. Many enterprises around the world also choose to establish regional procurement, logistics and distribution centers in ASEAN to increase the flexibility and diversification of the supply chain.
This time, uob has also brought five service plans to serve the escalating economic and trade needs of China and ASEAN.
Provide diversified cross-border fund management and financing solutions.
In view of the cross-border fund management and financing scheme that enterprises are very concerned about, uob can provide more convenient, preferential and effective fund management and financing methods according to the actual needs of enterprises, which uob summarized in three aspects.
One is to customize the cross-border two-way collection and centralized fund management scheme in Southeast Asia. Uob cash pool includes cross-border RMB cash pool, cross-border foreign currency cash pool and cross-border cash pool integrating local and foreign currencies. According to the currency demand, help multinational enterprise groups to adjust the surplus and deficiency of cross-border funds and manage them uniformly at home and abroad. Meanwhile, with the promotion of the Belt and Road Initiative, uob is committed to exploring direct cross-border fund pool business between China and Southeast Asia. At present, the cross-border fund pool between China and Thailand has been successfully launched.
The second is to provide personalized cross-border trade financing solutions. Combined with the advantages of network resources in Southeast Asia, uob strives to provide enterprises with more efficient and preferential trade financing schemes. In order to further consolidate the cross-border RMB trade financing service, on June 3rd, 165438+ uob (China) became one of the first foreign banks to settle in the cross-border RMB trade financing transfer service platform of Shanghai Bills Exchange, which further helped foreign trade and commodity enterprises, reduced financing costs and accelerated the circulation of business flow, logistics and capital flow.
Thirdly, uob and its long-term partner hengfeng bank launched the one-stop cross-border trade service Dahua-Hengfeng "Trade Express Train" to provide high-quality cross-border settlement and financing services for import and export customers.
"One-stop" Southeast Asia Currency Solution
The "one-stop" Southeast Asian currency solution was put forward by uob in order to facilitate the direct exchange, financing and hedging of Southeast Asian currencies for enterprises, and at the same time provide such currency liquidity for the domestic market. Based on the customer's business experience, uob observed that the demand for local currency settlement by enterprises in ASEAN and China is increasing. Local currency settlement can effectively avoid exchange rate risk and greatly reduce the cost of multiple foreign exchange. However, in bilateral economic and trade practice, the amount of RMB or local currency settlement in Southeast Asia is still low.
With the help of "one-stop" Southeast Asian currency solution, uob can provide a series of services, including direct exchange and hedging schemes between Singapore dollar, Thai baht, Malaysian ringgit, Indonesian rupiah and RMB, and non-deliverable forward services for some restricted currencies. This year, uob also launched the Malaysian ringgit letter of credit business and cooperated with the import bill business; And plans to further increase the variety of transactions, including options and swaps in some currencies.
In addition to cross-border fund management and financing solutions and "one-stop" Southeast Asian currency solutions, uob also provides various services for enterprises, including diversified precious metal trading and financing solutions, supply chain financing solutions and FDI consulting services.
Uob is one of the foreign banks with complete qualification in precious metals and commodities business in China, the leading foreign bank in precious metals trading volume in Shanghai Gold Exchange (SSE), and one of the most active banks in gold trading in Shanghai Futures Exchange. Based on its commodity business capability, uob has launched many precious metal trading and financing plans close to the China market. "We constantly introduce diversified and innovative trading products, including gold swaps, options and linked structured deposits; At the same time, we have launched a gold leasing financing scheme with competitive prices in the industry, and will launch a silver leasing scheme. " Fu Zan introduced.
In the aspect of supply chain financing scheme, the suppliers of many enterprises are small and medium-sized enterprises, so it is difficult to obtain funds through lower interest rates. Relying on customers' good credit and payment confirmation, uob can launch cost-effective financing solutions for offshore and onshore suppliers, effectively solve the financing difficulties of small and medium-sized enterprises, help customers optimize their assets and liabilities, manage risks and strengthen the relationship with suppliers.
In terms of FDI consulting services, uob established the FDI Consulting Department on 20 1 1 to provide "one-stop" services for enterprises planning to expand their business overseas, including market analysis, access support and comprehensive cross-border solutions. Uob said that the bank has established long-term partnerships with government departments, business associations and professional service organizations in the region, and also established strategic partnerships with the China Council for the Promotion of International Trade and the China International Chamber of Commerce. With uob's 85-year operation experience in ASEAN region and 65,438+00 FDI centers in Asia, the FDI consulting team has successfully helped more than 2,600 Chinese and foreign enterprises to develop their business potential in Asia, of which more than 700 are from China.
(Article Source: China Business Network)
(Editor: DF537)
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