since the beginning of 2020, the people's bank of china, the banking and insurance regulatory commission and the china securities regulatory commission have all paid attention to the financing of small and micro enterprises in their work meetings. it can be seen that to continue to increase the support for small and micro enterprises is still the focus of china's financial work in 2020.
as a tool to provide a comprehensive package of financial services such as financing, settlement and cash management for smes upstream and downstream of the supply chain, supply chain finance can play a unique role in supporting the development of small and micro enterprises. the booming development of a series of emerging technologies, such as big data, artificial intelligence, blockchain and 5g, will also inject new vitality into the development of supply chain finance and further improve the quality and efficiency of small and micro enterprises in supply chain finance services.
the emergence of fintech supply chain finance
as an important means of financing for smes, supply chain finance has attracted more and more attention.
in recent years, the policy level continues to release positive signals supporting the development of supply chain finance. as early as 2017, the guidance on actively promoting supply chain innovation and application issued by the general office of the state council clearly pointed out that "supply chain finance should be promoted to serve the real economy, supply chain finance risks should be effectively prevented, and supply chain finance should be actively and prudently developed". in july last year, the circ issued the guidance on promoting supply chain finance to serve the real economy, which further provided detailed guidance on standardizing supply chain finance for banks and insurance institutions.
it is worth mentioning that with the continuous penetration and in-depth application of internet and big data technology in the financial industry, china's supply chain finance market has also ushered in a new round of prosperity. in addition to banking institutions, industrial leading enterprises, e-commerce platforms and fintech companies have also increased their strategic layout of supply chain finance, and tapped market opportunities relying on the development and application of scientific and technological means.
industry analysts believe that supply chain finance will usher in stronger outlets in 2020. on the one hand, financial institutions cooperate closely with platformized professional service institutions to provide more convenient and efficient services for small and micro enterprises in the upstream and downstream of the industrial chain. on the other hand, technologies such as big data and blockchain will also be further applied in the field of supply chain finance, and supply chain finance will also develop into a more segmented industry.
big data technology is intensified to eliminate service pain points
in fact, the essence of supply chain finance is risk control. its business model, mainly through the use of supply chain is the core of high qualifications, strong credit enterprises, the use of core enterprise itself (see article) to the conduction and drive the creditworthiness of upstream and downstream of the relatively low enterprises to financing, that is to say, at the time of credit, the core enterprise need according to the supplier and provide a large number of transaction data information, to complete the control of risk.
some industry insiders admitted that, although the development prospects of supply chain finance are worth looking forward to, overall, the development of domestic supply chain finance is still in the initial stage, there are still information islands, core enterprise credit can not effectively transfer pain points, there are still many small and micro enterprises in the supply chain is difficult to obtain timely and effective financial services.
the chief operating officer of a beijing-based commercial factoring company told the financial times that in practice, only tier 1 suppliers and distributors with close ties to the core companies are more likely to get credit endorsements. because credit is gradually diminishing, a large number of small and medium-sized enterprises at the end of the supply chain cannot get support from financial institutions despite their strong demand for financing. in addition, there are still quite a few core enterprises, such as medicine, logistics, super and other sectors, it is difficult to confirm the right to provide transaction data information. combined, these conditions make it difficult for supply chain financial services to penetrate the second or third or even more sinking chain enterprises. therefore, even if the bank credit line of core enterprises is sufficient, its credit is still difficult to be transferred to small and micro enterprises in the supply chain, resulting in the imbalance between supply and demand of financial assets.
use internet, big data and other technologies to achieve more effective matching of assets and funds. according to the above coo, through the application of new technologies and the comprehensive use of big data, erp, tax, invoice, bank account and other information, customers can be more comprehensive understanding and analysis. in addition, after combining with the big data of the industry, the cross-validation can solve the problem of excessive reliance on the quota of core enterprises and the requirement of hard guarantee for core enterprises in the past, contributing to the formation of a more open and efficient supply chain finance system.
explore "blockchain supply chain finance" to control business risks
it is worth noting that supply chain finance has exposed some risks in the process of rapid development in the past two years. for example, in july 2019, noah wealth stepped on the thunder trail and chengxing international group reached 3.4 billion yuan, which was the risk event of supply chain financing fraud caused by the unreal trade background.
in the eyes of the industry, the biggest risk facing the supply chain finance business is trade fraud. the application of scientific and technological means is conducive to risk control. "blockchain technology supply chain finance" can become an innovative direction to solve the problem of risk control.
in fact, the characteristics of block chain technology and supply chain finance business have a natural match. based on block chain to tamper with the reliability, data of high technology advantage, can let the accounts receivable from the core of an enterprise is made by the chain, after transfer between suppliers at all levels, financial institutions to financing, the path is clear, can trace sources of accounts receivable, and ensure the authenticity and legitimacy of every transaction contract, to avoid "false contract" chapter "turnip".
existing fintech companies in the industry focus on the supply chain market and use block chain technology to provide enterprises with digital supply chain finance services and technology solutions. for example, some technology companies connect all participants in the supply chain by using "block chain electronic certificates" technology, releasing core enterprise credit to multi-level suppliers in the whole supply chain, reducing business costs and improving capital operation efficiency in the whole supply chain. there are companies using block chain may authorize encryption technology, in the protection of customer privacy at the same time, will otherwise difficult to verify a large number of online and offline payment and introduce logistics, warehousing, industry and commerce, taxation, and many other data sources to realize cross certification, in order to solve the information asymmetry between banks and enterprises, difficult to make the trade authenticity check, control the financial risk, to more small and medium-sized enterprises to provide a safe and effective financing service.
source: china financial news