General

Since the 18th National Congress of the Communist Party of China, the Central Committee of the Communist Party of China and the State Council have made a series of decisions and deployments on the construction of a single window for international trade (referred to as the "single window") in response to the needs of China's foreign economic and trade development in the new era. They have called for the acceleration of the national single window construction based on electronic ports, and strengthened the cooperation and docking between the "single window" and relevant industry institutions such as banks, insurance, civil aviation, railways, ports, etc, And regard it as an important measure for China to improve the business environment at ports and promote cross-border trade facilitation.

The single window is to realize the customs clearance and border management of goods in an electronic way, and is the result of the deep integration of network thinking, Big data and international trade governance. The Paperless office trade environment based on a single window has become the mainstream trend in foreign trade management and business operation. In recent years, China's international trade "single window" construction has made great progress. ICBC actively participates in the construction of the "single window" financial service function, explores and innovates the "foreign trade+finance" service model, combines the advantages of the "single window" cross-border trade Big data platform with the advantages of bank service enterprises, builds a whole process, intelligent "single window" financial service, and promotes cross-border trade facilitation.

1、 Empowering with new technologies to enhance customer service efficiency

ICBC actively promotes the exploration and application of blockchain, Big data, cloud computing, Internet of Things, 5G technology and other new technologies in financial services under the "single window", deeply digs data value, enriches financial service application scenarios, improves user experience, and effectively improves the quality and efficiency of international trade services of financial institutions.

1. The industry pioneered the use of U-shield authentication technology to achieve mutual recognition of users' joint identities. By using user joint identity authentication technologies such as the "Guan Yin Shared Shield", bank authenticated customers can log in to the "single window" system to handle financial transactions; At the same time, it supports customers to directly log in to the "single window" platform after logging in to the bank's enterprise online banking, without the need for repeated login in a single window, making it convenient to handle various businesses and reducing the time cost for customers to switch to customs or other banking media.

2. Build an intelligent recommendation marketing data model. Using Big data, machine learning and other technologies, we innovatively launched a "single window" cross-border loan product. Relying on the "single window" cross-border trade Big data of international trade, we deployed a data Computational model to screen high-quality import and export small and micro customers, and provided online credit loans to address the risk of commercial banks being afraid to lend due to their lack of control over the operation of small and micro enterprises, so as to provide a starting point for marketers to conduct precise marketing. Since screening small and micro customers through the model with the "single window", the cross-border loan balance has increased by over 80%.

3. Data sharing improves the efficiency of handling "tariff guarantee letters". When enterprises apply for "tariff" guarantee products, API technology is used to obtain information such as the rating of the enterprise on the "single window" platform and the payment status of enterprise taxes and fees. Machine learning intelligent models and expert rules are used to assist the system in automatically reviewing and verifying customers' credit, achieving automatic credit approval for low-risk customers' "tariff guarantee". The credit approval time for low-risk customers is shortened from 3 days to 2 hours, Improve business processing efficiency and customer experience.

2、 Innovate all online products to improve the quality and efficiency of financial services

Industrial and Commercial Bank of China continuously innovates financial service products under the "single window" program, expands service models, helps enterprises achieve full online, full process, and one-stop processing of various cross-border trade businesses, keeps track of processing progress and results anytime and anywhere, alleviates the problem of information asymmetry between banks and enterprises, and effectively improves the quality and efficiency of cross-border trade financial services.

1. Industrial and Commercial Bank of China, as one of the first pilot banks, launched a "single window" electronic cross-border remittance. Provide cross-border remittance services for import and export enterprises through the "single window" platform, connecting customs clearance and cross-border remittance processes for goods trade. Utilizing the advantages of data interconnection in the "single window", obtain trade customs documents, contracts, invoices, and other information. Relying on the advanced cross-border remittance processing system and global clearing network of Industrial and Commercial Bank of China, we provide electronic services for the entire process of cross-border remittance for import and export enterprises.

2. Launch a "single window" cross-border loan product. Relying on the advantage of "single window" integration and aggregation of international trade full chain data, Industrial and Commercial Bank of China has launched the cross-border business online financing product "Cross border Loan". This product gathers data such as enterprise Customs declaration and tax bill to calculate the financing limit for enterprise customers, and provides financing with pure credit, easy application and preferential interest rate, helping import and export enterprises to maintain stable operation and sustainable development. As the industry's first one click loan limit viewing product, 'Cross border Loan' enables active credit extension to high-quality small and micro enterprises, achieving the goal of 'allowing data to run more and customers to run less'.

3. Launch a "single window" tariff guarantee. This product is issued with a tax guarantee by the bank to the customs, enabling foreign trade goods to be "released first, taxed later, and collected and paid collectively". The tariff guarantee product connects with banks through a "single window" to improve business processes, truly realizing the convenience of "bank transfer, customs collection, and enterprise use" of tariff guarantee. It helps enterprises enjoy the convenience of "first release before tax, consolidated tax payment, local filing, and nationwide use" during the customs clearance process, simplifies customs clearance procedures, shortens cargo detention time, reduces customs clearance costs, and improves customs clearance efficiency.

4. The industry first promotes "single window" document settlement financing. Under the "single window", it provides enterprises with the whole process of trade services such as L/C issuance, arrival, acceptance/payment, L/C notice, document review, mailing, collection and financing, and solves the pain point that customers need to upload various business attachments when handling foreign trade business in various banks. Customers can handle our settlement, financing products, Customs declaration, invoice Electronic data such as contracts are automatically obtained through a "single window" to provide customers with one-stop trade finance services.

3、 Deepening cooperation between banks and governments, achieving significant technological empowerment effects

By intelligently connecting with the "single window" of international trade of the General Administration of Customs, Industrial and Commercial Bank of China has become an important cooperative bank of the "single window" of customs, providing multi-dimensional convenient foreign trade products for import and export enterprise customers. Since the platform was launched, the co built financial ecosystem has covered multiple financial services, including "user binding", "appointment account opening", "cross-border remittance", "import and export document settlement", "international trade financing", "tariff guarantee letter", "cross-border loan", "tripartite agreement signing", etc., basically achieving the full chain and scenario coverage of cross-border trade for import and export enterprises, such as account opening, settlement, financing, guarantee, and fund transactions, We provide enterprises with richer, more convenient, and more efficient online cross-border financial services, among which the volume of "cross-border remittance" business has remained the top in the industry for many consecutive years.

4、 Conclusion

In order to better serve the implementation of the strategy of "trade power" and "rule of law", ICBC will continue to deepen technological empowerment and business innovation in the future, combine the construction of "single window" financial services with the construction of "digital ICBC", and cover the whole chain of international trade with "single window" financial services in accordance with the concept of "smart customs, smart borders, and smart connectivity", Build a "one-stop" trade service platform and cross-border trade Big data platform, implement the Financial inclusion strategy, further improve the quality and efficiency of financial services, and join hands with the customs to contribute to the "stability and quality improvement" of foreign trade.