In order to support the high-quality and healthy development of Dongguan's open economy, bail out foreign trade enterprises, and help foreign trade enterprises fight the epidemic, Dongguan Branch has taken multiple measures to inject financial vitality into more foreign trade small, medium and micro enterprises, which not only solves the problems of enterprise financing difficulties, but also actively guides enterprises to establish the concept of "exchange rate risk neutrality" to help enterprises achieve the purpose of exchange rate hedging, and escorts the steady development of small and medium-sized foreign trade enterprises by focusing on cross-border new business formats.
Cross-border quick loans" bailed out foreign trade enterprises.
In recent years, the international economic situation has been complex and volatile, coupled with the continuous raging new crown epidemic, the foreign trade market has become increasingly weak. There are many small, medium and micro enterprises in Dongguan, and under the influence of the epidemic, many enterprises are facing difficulties such as the extension of overseas account periods, tight capital chains, frequent exchange rate fluctuations, transportation and production costs, and even many orders dare not accept orders.
80% of our company's business is exported, and in 2019, the company's annual domestic revenue exceeded 1 million US dollars, and in 2020, affected by the epidemic, the company's operation was affected to a certain extent, and sales fell by nearly 10%. The upstream is urging for money, and the downstream owes money and does not pay it back, and without financial support, it may be difficult for the company to survive. An electronic *** in Dongguan City said. The company was established in August 2003, mainly engaged in design, research and development, processing, sales of computer peripherals, molds, etc.
After learning about the situation, Dongguan Branch recommended the "Cross-border Quick Loan" product under the Bank's "Trade and Finance", which is a preferential loan provided by CCB for small, medium and micro foreign trade enterprises with full online, unsecured and pure credit. Through the "single window" CCB financial services, enterprises can apply for financing based on export accounts receivable with the export declaration form, operate online, borrow and repay at any time, and enjoy preferential interest rates.
I really didn't expect that there was no need for any collateral, and with just a few export collection data, a loan of 1 million yuan could be received at the touch of a finger. The business owner said excitedly.
Helping foreign companies establish the concept of "risk neutrality".
The amount of foreign exchange collected by small, medium and micro foreign trade enterprises is small, but the frequency of foreign exchange collection is high, and many enterprises do not establish the concept of "exchange rate risk neutrality", allowing the exchange rate to rise and fall, affecting the profits of enterprises.
I didn't know about foreign exchange derivatives before, has been after the receipt of foreign exchange for spot settlement, did not take exchange rate hedging measures, exchange rate fluctuations have a great impact on our company's profits, although I have considered the use of exchange rate hedging tools to lock in corporate profits, but there will still be concerns in my heart. "A hardware product in Dongguan City*** said. The company mainly produces and sells hardware products, zinc alloys, iron pipes, curtain products, glass handicrafts, lighting, etc., and the annual export revenue of the enterprise is about 5 million US dollars.
The foreign exchange trading experts of CCB Dongguan Branch took the form of on-site visits, WeChat, and communication, and made a detailed introduction to the hardware company on the principle and role of derivatives through case explanations and scenario analysis, so as to increase the company's understanding of foreign exchange derivatives business, dispel the concerns of enterprises, and help enterprises make full use of hedging tools to manage exchange rate risks and focus on the development of their main business.
At the beginning of March 2022, the company handled the first forward foreign exchange settlement business, and after experiencing the benefits of the exchange rate hedging tool, it gradually established the habit of exchange rate hedging, and subsequently handled two forward foreign exchange settlement businesses according to the company's capital arrangement.
Focus on cross-border ** new business formats.
With the development of the global economy, the number of enterprises engaged in foreign trade is growing, but in recent years, due to the impact of the epidemic, the foreign trade market has been sluggish, and it is even more difficult for small and medium-sized enterprises to participate in the international market.
Our company has long faced the shortage of input invoices, and the products are concentrated in the form of multiple varieties, small batches and multiple batches. In the process of visiting foreign trade companies, the cross-border financial center of Dongguan branch learned that an import and export company in Dongguan City had encountered the problem of product export difficulties.
You don't have to worry, the state has launched a new way of market procurement, and Dongguan has been successfully approved to obtain the pilot qualification of the business, allowing multiple batches, multiple varieties, and small batches of unticketed goods to be exported in the form of market procurement. The cross-border financial center explained the market procurement business to the business owner in detail.
Finally, with the assistance of Dongguan Branch, the company completed the registration operation of the market procurement platform and successfully handled the account opening and foreign exchange collection and settlement business, which solved the problem of the difficulty in exporting the company's products.
This business introduced by CCB is really good, thank you so much! Now it's okay, we can spread our fists and kicks and do a good job. The business owner said happily.
Stabilizing foreign investment and foreign trade is a long-term work, Dongguan Branch will provide a steady stream of "financial living water" to promote the "dual circulation" from the aspects of expanding foreign trade credit, increasing support for small, medium and micro foreign trade enterprises, and supporting the development of new business formats, unswervingly support social and economic development, effectively improve the quality and efficiency of financial services, and help foreign trade and foreign investment to maintain stability and improve quality.