Recently, Industrial Bank (IB) held a promotion conference on bill pool products in Wudang, Hubei. Targeting at corporate group customers and relying on the innovative platform of the “bill custody” system, the new bill pool products were released to help enterprises to reduce their financial cost and improve their flexibility in the turnover of bill capital. The products has drawn great attention from and won great popularity by more than 40 well-known enterprises including Dongfeng Commercial Vehicle Company.
In recent years, bill settlement has become an increasingly important tool for the day-to-day settlement of enterprises. As shown by the survey made by TreasuryChina in 2012, the proportion has gone beyond 30%. Taking into consideration the bill settlement demands of enterprises, IB integrated the characteristic products and value-added services under “Gold Cube” and released bill pool and other bill related products to help corporate partners to activate their bill assets, accommodate their capitals, and reduce their financial cost, thus breaking the limitation that bill pool was used only in such businesses as safekeeping and issuing previously.
As introduced by IB, on the basis of such services of collecting by visit and agency safekeeping of physical bills, with the new bill pool products the bank may, according to the needs of an enterprise group for managing all bills of the HQ/parent company and member companies in a centralized manner, receive and handle the electronic business requests initiated by an enterprise for the pooled bills such as online inquiry, negotiation, discount, pledge, and issuing, relying on the innovative platform of the “bill custody” system, and provide all bill in the pool as the guarantee to accomplish such management functions as automatic calculation of maximum issuable amount, internal line transfer(namely, “loan bill”), internal pricing, and hierarchical examination and approval. Meanwhile, the new bill products are connected to the commercial acceptance bill system, electronic commercial draft system, and internet banking system, thus realizing the all-sided and structured integration of the bill pool business.
It is said that the new bill pool business has won great popularity among many corporate customers upon its release because of its outstanding advantages in helping enterprises to activate their bill capitals and improving the capital incomes.