On June 18, the Industrial Bank launched the “Open Sesame” SME IPO Program in Fuzhou. The program aims to offer all-round, diverse, rapid, safe and easy services to support the growth of small and medium-sized enterprises.
Reports indicate that the program is characterized by “two categories”, “three phases” and “nine schemes”. Specifically, the program is based around the public listing of small and medium-sized enterprises. According to the different demands of companies at different stages, such as in the startup phase, growth phase and maturity phase, the program involves utilizing financial service tools in two major categories (traditional banking and investment banking) covering a number of areas including direct financing, indirect financing and cash management. Namely, clients are offered customized financial service schemes at different stages of their growth. Moreover based on expertise in the IPO process of SMEs after reorganization, client cluster categories and cooperation & support channels, a total of nine financial service schemes have been included in the program. They include IPO comprehensive services, integrated debt financing services, private equity investment services, specialized market financial services, Industrial Park financial services, supply chain financial services, export-oriented business financial services, co-guarantee services and cooperation between banks and the government. These schemes cover business financing, capital operation, development planning, wealth management and corporate governance, and offer a series of financial services that are aimed at fostering and supporting the growth and public listing of small and medium-sized enterprises.
The “Open Sesame” SME IPO program, by bringing together the capital market and currency market, offers integrated one-stop “credit right + stock right + IPO” financial service solutions for small and medium-sized enterprises that are seeking public listing.
The program has three distinctive features: 1. diverse range of services. Based upon its experiences in providing services for SMEs and after integrating several traditional credit and settlement services, the Industrial Bank has introduced innovative investment banking services such as business financing and financial consultant. On one hand, these services help SMEs solve issues in regard to financing, settlement and operation, and on the other hand help companies to solve many problems that they may encounter before, during and after IPO, contributing to the full upgrade of their management capability. 2. high level of expertise in service schemes. According to the growth stage, client type and demand characteristics of SMEs, the bank can design customized service portfolios and provide individualized schemes for clients on the basis of existing schemes thanks to the close collaboration between account managers and product managers. 3. one-stop solutions. The bank accurately identifies the financial demands of small and medium-sized enterprises for growth and public listing, and proposes a full set of solutions in combination with one-stop financial services to rapidly solve the pressing issue and worries that SMEs face and enable SMEs to go forward with less of a burden, seize the market, gain a head start and realize rapid healthy growth in the midst of complicated market competition.
Vigorously developing finance for small and medium-sized companies has always been a point of focus in the financial services and business innovation of the Industrial Bank. Adhering to the philosophy of providing services in good faith and growing in unison with clients, the Industrial Bank has maintained a commitment of innovation and steady progress. Guided by these principles, the Bank has continued to enhance its financial service system for small and medium-sized enterprises from a number of aspects, including organizational structure, professional teams, product services, systematic processes and IT systems. This will allow the Bank to become more competitive. By the end of May, 2010, the Industrial Bank's SME loan balance totaled at RMB 341.5 billion, representing an increase of RMB 66.9 billion over the start of the year.