The Central Financial Work Conference held in October 2023 clearly stated that we must aim to accelerate the construction of a financial power and unswervingly follow the path of financial development with Chinese characteristics. Finance must provide high-quality services for economic and social development, and do a good job in science and technology. Five major articles on finance, green finance, inclusive finance, pension finance, and digital finance. This has set a clear "road map" for financial institutions and sounded the "assembly call". They must focus on the "five major articles" to effectively serve the needs of the real economy and the high-quality development of the economy.
In its mission to achieve high-quality development, China Merchants Bank takes building a value bank as its strategic goal and is committed to creating greater value for customers, employees, shareholders, partners and society. As the "flagship store" of China Merchants Bank, the Shenzhen Branch has already made plans and moved "first". Adhering to the blood of China Merchants, the spirit of Hailiao, and the genes of Shekou, we adhere to the general policy of "inheriting, deepening, integrating, and innovating", take science and technology as the cornerstone, grasp the core essence of the "Five Major Articles" of the Central Financial Work Conference, and adhere to "Finance for the People" The original intention is to empower local economic development and a better life for residents.
Thinking about change and seeking innovation, "six specialties" help science and technology innovation "accelerate"
In an electronics industrial park in Guangming District, Shenzhen, the factories are neatly arranged and the roads are spacious and flat. On the workshop assembly line, workers in dust-free suits are cutting and testing pieces of semiconductor materials. After dozens of processes, they are packaged, shipped out of the factory, and sold all over the world. An Electronic Technology Co., Ltd. in Shenzhen is a technology-based small and medium-sized enterprise with many high-value patents. In August 2023, the company had completed product testing with multiple downstream manufacturers, and product delivery and mass production were at a critical stage. However, the company had a gap in liquidity and saw large-volume orders going to waste. After the account manager of Shenzhen Branch of China Merchants Bank learned about the needs of the enterprise in time, he provided the customer with a customized financing plan, matching the "Kechuang PE Loan" financing product, and provided the enterprise with 5 million credit loan support within 4 days. This phase helps companies achieve delivery and mass production. Two months later, a large amount of semiconductor materials successfully arrived on the other side of the ocean. It is reported that "Science and Technology Innovation PE Loan" is a product that deeply fits the pain points and needs of science and technology innovation enterprises in the start-up and growth stages of equity investment scenarios. Its characteristics such as light financial statements and emphasis on technological content and growth have realized the transformation of traditional financing models. Major innovations and breakthroughs, more than 70% of the companies that were approved for "Kechuang PE Loans" had not yet achieved profitability when the loans were approved, but they could still receive timely support from China Merchants Bank's credit funds. Data shows that China Merchants Bank Shenzhen Branch has served 260 scientific and technological enterprises through this product, providing a credit amount of 2.89 billion yuan.
2023 Shenzhen Financial Empowerment Special New Enterprise Special Event (Pingshan) Image source: China Merchants Bank Shenzhen Branch
Solving the urgent needs of the aforementioned electronic technology companies is just a microcosm of China Merchants Bank Shenzhen Branch's "six specialized" financial services to empower the growth of technology companies. "Financial services must conform to the characteristics of the industry. We provide technology companies with the 'six specialization' mechanism requirements of 'specialized teams, specialized institutions, specialized products, specialized policies, specialized evaluations, and specialized processes'. This is Shenzhen Branch's initiative to serve the real economy with high quality. Responsible." It is reported that as early as 2022, the bank took the lead in launching a technology financial service brand within the China Merchants Bank system and its peers in Shenzhen, and established two science and innovation branches - Nanshan Science and Technology Innovation Branch and High-tech Park Science and Technology Innovation Sub-branch, targeting large-scale , medium-sized, small and micro enterprises’ pain points and difficulties, solve the problems of scientific and technological innovation business development, and create a financial service system that can cover the life cycle of scientific and technological enterprises, helping enterprises to "accelerate" on the road of development. China Merchants Bank Shenzhen Branch's first attempt has contributed to Shenzhen's subsequent acceleration of the construction of a technological financial service system with Shenzhen characteristics.
Precise drip irrigation and financial “loans” drive green development
26 kilometers offshore and 26 meters deep in the eastern sea of Cangnan County, China Resources Power's "Cangnan 1" offshore wind power project is guarded here. Wind turbines nearly 100 meters high and with a total installed capacity of 400 megawatts are arranged in the blue sea. Above, it is silent and orderly, spectacular. As my country's carbon peak and carbon neutrality goals are proposed, new energy will become the mainstay of future power supply. As one of the main forces of new energy, offshore wind power plays an increasingly important role. An offshore wind power project connected to the grid at full capacity can generate enough electricity to power 10,000 ordinary families of three for several decades. As a strategic partner of China Resources Power, China Merchants Bank Shenzhen Branch took the lead in injecting financial "live water" into "Cangnan No. 1" and will continue to provide financial support for its Shanwei Red Bay and Yangjiang Sanshan Island projects, as a responsible person. Light up thousands of homes and contribute to attracting money.
Vigorously developing green finance and injecting financial "living water" into green waters and lush mountains is the responsibility of China Merchants Bank Shenzhen Branch to help achieve the goal of "carbon peaking and carbon neutrality", and is also an inherent requirement to achieve high-quality development. According to reports, China Merchants Bank Shenzhen Branch continues to increase support for green and low-carbon fields, prioritizes meeting the financing needs of green credit business, provides preferential policies for green credit and green bonds in terms of internal fund transfer pricing (FTP), and opens a review and approval "green "Channel, leading the industry in the field of green finance: taking the lead in launching the country's first clean energy public offering REITs project; successfully issuing 2 billion medium and long-term green loans; as the lead underwriter, successfully issued 2 billion carbon-neutral panda perpetual bond underwriting business; successively issued 1.8 billion yuan of non-recourse domestic factoring business... Data shows that as of the end of December 2023, the bank's green credit balance was 42 billion yuan, an increase of 12.3 billion yuan from the beginning of the year, an increase of 41%, and the green credit scale accounted for Shenzhen With 5.3% of the green credit scale, it ranks first among joint-stock banks and plays a major role in promoting low-carbon transformation with financial "living water". In August 2023, it won the "2023 Green Finance Award" issued by the Shenzhen Green Finance Association. Organization” award.
China Merchants Bank Green Finance Brand Poster Picture Source: China Merchants Bank
Expansion of coverage, technological innovation igniting inclusive engine
"You can still get a loan from the bank without collateral, and the amount is more than expected. You applied on the same day, got approved on the same day, and withdrawn the money on the same day." The "Enterprise Loan" product launched by China Merchants Bank is becoming a hot topic among many small and micro business owners. topic of discussion. 2023 is the tenth year since my country proposed “developing inclusive finance”. Shenzhen, known as the "first city of private economy", compared with other cities, the most prominent feature is that private enterprises are not only large in number but also strong in strength. At present, the number of commercial entities in Shenzhen has exceeded 4 million, and the density of entrepreneurship ranks first among large and medium-sized cities in the country. There is one "boss" in every five people.
China Merchants Bank Shenzhen Branch uses a wide-coverage, multi-level, and efficient inclusive financing service system to accurately support small and micro enterprises and ignite the inclusive financial engine with technology. In 2023, products such as "Zhaoqi Loan" and "Zhaodu Cloud Loan" will be launched. Through the big data risk control model, the entire process of corporate online application, system automatic approval, and online self-service withdrawals will be truly online. The application for credit and the disbursement can be completed on the same day at the fastest, and no mortgage is required, which can effectively alleviate the problems of small, medium and micro enterprises such as difficulty in application, multiple processes, expensive capital, and slow disbursement.
2023 "Work together to help entities, financial empowerment to stabilize growth" banking and enterprise activities (Guanlan) Image source: China Merchants Bank Shenzhen Branch
"Individual entrepreneurs, private enterprises and other small and micro customers will no longer be turned away by banks because they have no asset collateral." The person in charge of a technology company in Shenzhen said with emotion. The company was recently approved for a loan of 3 million through "Enterprise Loan" Yuan, solved the urgent need of the company, and successfully obtained the "Specialized, Specialized and New" enterprise qualification. In 2023, China Merchants Bank Shenzhen Branch’s “China Enterprise Loan” provided financing services to more than 3,000 small, medium and micro enterprises, of which the proportion of Chinese standard small and micro enterprises was as high as 95%. From small and micro enterprises to new citizens, China Merchants Bank Shenzhen Branch has become a solid backing for different social groups in their pursuit of a better life.
Improve quality and efficiency, and develop the "three pillars" elderly care ecosystem
Pension finance has been upgraded and positioned as a bank-wide strategic business by China Merchants Bank. This is one of the important measures taken by China Merchants Bank to implement the spirit of the Central Financial Work Conference. Under the strategic deployment of the head office, China Merchants Bank Shenzhen Branch focuses on account support, product planning, channel construction, service improvement, etc., and strives to become the brand reputation of Shenzhen citizens as the “Chinese Merchants Bank of choice” for personal retirement care.
China Merchants Bank Shenzhen Branch provides multi-stage full-process services covering dual personal pension accounts, including "account opening, deposits, product purchases, tax returns and withdrawals", enabling the rapid opening of personal pension accounts in 30 seconds. In 2023, China Merchants Bank Shenzhen Branch will become the bank with the largest number of personal pension accounts opened, deposited funds and average amount of deposited accounts by Shenzhen citizens. In addition, the Shenzhen branch has sold multiple financial products for senior care customers on an agency basis, serving more than 36,000 customers.
“Serving the elderly is not just a business, but should also sincerely participate in and serve the lives of the elderly,” said the person in charge of a branch of the Shenzhen Branch. Bridging the digital divide between middle-aged and elderly people is an important issue that China Merchants Bank Shenzhen Branch is committed to solving. China Merchants Bank Shenzhen Branch has set up special windows for services for the elderly and special calling rules in each branch; for the elderly with limited mobility, it proactively provides door-to-door services under the premise of compliance; it has improved the aging-friendly renovation of branches and enriched beverages, reading glasses, magnifying glasses, wheelchairs, Convenient facilities for the elderly such as blood pressure monitors and medical kits are provided, as well as special waiting areas for the elderly, wheelchair passages, handrails for the elderly, stair tips, etc., and "calling vibrators" are provided for elderly customers with hearing impairment, and "calling vibrators" are provided for elderly customers with difficulty in writing. Provide a "voice mouse"; cooperate with Shenzhen community party and mass service centers and other institutions to carry out hundreds of vivid "anti-fraud financial classroom" themed activities for elderly customers to help them improve their risk prevention capabilities.
Plan your layout and bring new vitality to digital transformation
As a staunch practitioner of digital finance, Shenzhen Branch strives to open up the "last mile" of digital transformation, gathers the strength of multiple departments to build a digital transformation integration team, and pioneers the industry's first IT-BP counterpart service mechanism with the goal of digital empowerment, realizing technology "Two-way running" with business.
It is understood that China Merchants Bank Shenzhen Branch has established strategic customer departments specializing in industries such as communications and semiconductors, new economy, and consumer electronics to continue to improve industry professional service capabilities, increase credit resources, product policies and other support to help leading companies in the digital economy Value chain and supply chain development. In response to the needs of enterprises in cross-border financial services, China Merchants Bank Shenzhen Branch launched the "Cross-border E-Platform" flagship product to provide enterprises with online settlement services covering both domestic and foreign countries, and realize paperless and online processing of high-frequency business , transforming the “E” of fintech digitalization into the “easy” that facilitates the cross-border needs of corporate citizens. More than 500 companies have used it to handle capital project digital service pilot business, with a total number of nearly 50,000 transactions and a settlement amount of more than 5 billion US dollars. It has attracted more than 4 billion US dollars in capital inflows, providing more convenience for investment in Shenzhen and Hong Kong.
While promoting the development of business online, China Merchants Bank Shenzhen Branch has pioneered the application of digital renminbi scenarios, which is of great strategic significance for accelerating the implementation of various digital renminbi pilot projects across the country. It is reported that China Merchants Bank Shenzhen Branch and the Shenzhen Municipal Commerce Bureau launched a New Year digital currency red envelope event, which led to participation in catering, retail and other activities in Shenzhen, benefiting more than 400,000 citizens; it became the first three banks to implement prepaid fund supervision for education and training; it was the first to implement Provide digital currency issuance and party dues payment services for single city and district government agencies; become the only banking institution to cover digital renminbi payments on the entire Shenzhen highway section; successfully issued the first digital renminbi "PE loan for science and technology innovation enterprises" in Shenzhen.
From strategic layout to exploration and practice, we progress step by step and go deep at every level. China Merchants Bank Shenzhen Branch is using digital methods to unleash its professional advantages and help the real economy revitalize.
2024 is the 30th anniversary of the establishment of China Merchants Bank Shenzhen Branch. During these turbulent thirty years, CMB people in the Special Economic Zone have always adhered to the original aspiration of finance, served the people's livelihood in innovative development, and integrated and grown together with the Special Economic Zone. The time is scorching, and the wind and crops are rising. In the next thirty years, China Merchants Bank Shenzhen Branch will anchor the goal of "building a financial power", effectively write the "five major articles" with its own characteristics, strive to create an excellent example of high-quality financial development, and help the special economic zone continue to write more What a spring story.
Photo source of China Merchants Bank Shenzhen Branch exhibition hall at the 2023 Jinbo Expo: China Merchants Bank Shenzhen Branch