The 2nd Annual Global Trade & Credit Conference was held in Ningbo City on Sept. 24th, 2016. This conference intended to build a better economic and trade cooperation and international communication platform, and helped more companies of Ningbo City “going out”, around the national strategy “the Belt and Road”. Our regional company - Zhejiang Great Tao Factoring Co., Ltd. had published eGTCP, which intends to offer trade and financial services to the supply chain and help trade parties resolve trust and risk problems in the transaction.
WEI Jianguo, the former deputy director of Ningbo Ministry of Commerce, had made a speech The New Opportunities of “Made in China”under the Strategy“the Belt and Road”. He hoped that more SEMs of Ningbo City could seize opportunities and cooperate with other countries along “the Belt and Road” for tapping more business opportunities, by the way of export & import, and investment, etc. He disclosed that China was building a credit platform and each company would have its own “credit passport” in the future.
Actually, “Zhejiang Great Tao” has actively explored this field. Based on the credit assessment, the platform “cloud factor”that this company builds offers financial services to each link of the export supply chain and forges integrity ecosystem circle, by means of the Internet and cloud computing technology. Only do international buyers register on eGTCP and apply for “GTCP Card”successfully, they could obtain the loan on credit. Besides, domestic suppliers need not to worry that payments for goods are delayed. Because “Zhejiang Great Tao” could buy out receivables and make suppliers get payments in advance.
FANG Bonai, the deputy director in Public Management College of Zhejiang University, said “ under the circumstance of weak global trade, a good credit could improve the development of international trade and reduce transaction costs efficiently, in other words, the trade parties could subtract the negotiation procedure, and eliminate links, including assurance and insurance etc., so that costs decrease.”
Over 150 international buyers all over the world came to negotiate in the later Cross-border Purchasing Match. They made great deals with domestic suppliers, worthy of 15million USD on site. Besides, intentional orders reached over billions USD.