A few days ago, the “2010 China Bulk Commodity Trade Market Development Forum” was held in Jinan, Shandong, with the topic of “Where is the way for China's bulk commodity E-commerce development?” The Futures and Finance Department of the Industrial Bank was invited to the forum as banking experts. They talked with more than 100 delegates from enterprises over several topics including bulk commodity E-commerce market development and bank–commerce cooperation. In addition, they highlighted the bank's bank–commerce transfer system with the third party depository function and the professional service solution provided to major markets and dealers. Many delegates expressed great interests in these.
In recent years, with the rapid growth of the domestic bulk commodity trading, the Industrial Bank realized the huge business opportunities hidden within, and regarded it as an important business area. The Futures and Finance Department was founded at the head-office level in 2009, specialized in serving the bulk commodity, commodity futures and financial futures markets. Based on the advantages of professional teams, service experience and technological innovation capacity which have been accumulated from many-years' of service in the stock market as well as the commodity and financial futures market, the Industrial Bank rapidly introduced the bank-commerce transfer system which is targeted at the bulk commodity trade market. It has now gained several function abilities such as electronic deposits, electronic withdrawals, transaction inquiries, clearing reconciliations as well as third party custody. It can be applied not only for the bank-commerce transfers for bulk commodity trade market in the traditional way, but also for the fund transfers in the third-party-depository mode.
As one of the first settlement banks of the Bohai Commodity Exchange in Tianjin, the Industrial Bank has now provided service for nearly ten thousand enterprises and individual bank-commerce transfer clients, and it conducts business cooperation with dozens of bulk commodity markets such as the Zhejiang Plastic City Online Trade Market, Ningbo Dupute Liquid Chemical Transaction Center, Nanning (China-ASEAN) Commodity Exchange, Guangzhou Commodity Exchange and Qingdao International Commodity Exchange. It is reported that it is also the first bank to launch the standard warehouse-receipt-pledge financing business which is applicable to all three domestic commodity future exchanges and the precious-metal-pledge financing business for the Shanghai Gold Exchange. For the next step, the Industrial Bank will try to develop the registered-warehouse-receipt-pledge financing business for some bulk commodity trade markets, and utilizing this as a breakthrough, it will deepen the full-range business cooperation and strive to provide professional banking services for each party of the bulk commodity trade market.