Over the past few years, an increasing number of Chinese enterprises have responded to the advocacy of “Going Global Strategy”, and have carried out investment and trade activities overseas. Meanwhile, under the impact of China-U.S. trade war and globalization, Chinese enterprises have stepped up industry chain adjustment and global layout. However, offshore financing services for overseas Chinese enterprises have not kept up with the fast pace of their global reach-out, and have become one of the major issues impeding the fast growth of overseas Chinese enterprises. The Global Online Financing Platform was thus established to address this issue.
Global Online Financing Platform (the “Platform”) is dedicated to leveraging the Internet and Fintech to solve offshore financing problems for Chinese enterprises that operate abroad or plan to expand into foreign markets. The Platform has partnered with a lot of financial institutions in the world to deliver financing services including real estate development loan, equipment and leasing loan, project financing and Mergers &Acquisitions loan as well as trade financing, and to provide overseas Chinese enterprises with diversified, customized and cost-effective financing solutions.
VTeam Financial Service Group, the operator of the Platform, has about two decades of experience in supply chain finance. It is a member of FCI and ITFA. It has obtained several international patents for risk management, and has cultivated exceptional expertise in international business and service. Euler Hermes granted the company the only Certificate of Appreciation in Asia. On the strength of advanced IT and rich experience in operational service, VTeam Financial Service Group has built an extensive business network that covers over 65% of the commercial banks in China, has established and operated 38 online financial platforms, and has evolved into one of the most experienced operators in the industry.
With high recognition and strong support from the Ministry of Commerce, Global Online Financing Public Lectures, which was hosted by Chinese Academy of International Trade and Economic Cooperation, kicked off on August 26, 2019 in Beijing. Mr. Raja Dato' Nushirwan Zainal Abidin, Ambassador of Malaysia to China, Mr. Riaz Abdul Razak, Commercial Counsellor of Malaysian Embassy in China, Mr. Dao Viet Anh, Commercial Counsellor of Vietnamese Embassy in China, Ms. Shen Jianguo, Vice Chairwoman of the 10th Session of All-China Federation of Industry and Commerce, Ms. Zhang Yanling, Former Executive Vice President of Bank of China, Mr. Guan Mu, former Ambassador of China to Thailand and Myanmar, Mr. Gao Wenkuan, Former Commercial Counsellor of Chinese Embassy in Thailand and Malaysia, Ms. Deng Liyang, head of Department of Asian Affairs of Ministry of Commerce of the People’s Republic of China, and other distinguished guests attended the event and delivered an address. A delegation consisting of about 400 business representatives from all over China jointly witnessed the global debut of the Platform in Beijing and the establishment of a connection with the world.
Photos of Global Online Financing Public Lectures in Beijing
Photos of Speech Guests
According to official statistics, ASEAN has become the second largest trading partner of China in 2019. Singapore, Laos, Vietnam, Indonesia, Thailand, Malaysia, Cambodia and other Southeast Asian countries have become the main foreign investment countries for Chinese enterprises.
In order to solve the issue of the financing difficulty faced by Chinese enterprises in Southeast Asia, the operator of the Platform had established financing platforms in Malaysia, Thailand, Vietnam, Philippines and Cambodia before the successful opening of Global Online Financing Public Lectures in Beijing. After the event, the operator of the Platform set about establishing a global service center to allow customers from all over the world to communicate with the Platform through telephone, email and online interaction. Meanwhile, in just three months, the operator of the Platform had integrated resources of business and funding providers, and had furthered the recruitment, training and management of overseas business personnel.
Global Online Financing Platform
To deepen the understanding of the specific needs and actual situation of Chinese enterprises in Southeast Asia, the Panel of Experts of Global Online Financing Public Lectures (the “Panel of Experts”) made an inspection tour of Malaysia, Thailand, Vietnam and other Southeast Asian countries from November 10 to 19, 2019, during which they visited Ms. Shi Ziming, Ms. Zhang Peidong and Mr. Hu Suojin, economic and commercial counsellors of Chinese embassies in Malaysia, Thailand and Hanoi respectively, as well as the local China Enterprise Associations. They also held seminars with many local Chinese enterprises such as Bank of China, China State Construction, SinoHydro, PowerChina, China Railway Construction and China Harbor, and achieved an in-depth understanding of the economic situation and the development of Chinese enterprises in Southeast Asia.
Chinese enterprises and China Enterprise Associations in Southeast Asian countries spoke highly of the inspection tour. Chinese enterprises especially expressed strong needs for the financing service and funding of the Platform, and extended sincere invitation to the Panel of Experts to unfold Global Online Financing Public Lectures officially and put the Platform in to operation as soon as possible.
Photos of the Inspection Tour-1
Photos of the Inspection Tour-2
Following the guidance of the Ministry of Commerce and answering the strong requests of the local Chinese enterprises and China Enterprise Associations, Global Online Financing Public Lectures were held successfully in Kuala Lumpur, Malaysia, Bangkok and Thailand-China Rayong Industrial Park, Thailand, Hanoi and Ho Chi Minh City, Vietnam. from December 9th to14th , 2019.
The event was recognized and strongly supported by the Economic and Commercial Counsellor’s Office of Chinese embassies and the local China Enterprise Associations. Attendees included the Economic and Commercial Counsellor’s Office of Chinese Embassy in Vietnam, the Economic and Commercial Counsellor’s Office of Chinese Consulate General in Ho Chi Minh City, China Enterprises Chamber of Commerce in Malaysia, Chinese-Thai Enterprises Association, Business Association of China in Vietnam, Thailand-China Rayong Industrial Park and other institutions and associations as well as a delegation of about 700 representatives of Chinese enterprises in Malaysia, Thailand and Vietnam.
Mr. Hu Suojin, Minister Economic and Commercial Counsellor of Chinese embassy in Vietnam, Mr. Hao Zhigang, Deputy Consul General and Mr. Wei Xichen, Economic and Commercial Counsellor of the Chinese Consulate General in Ho Chi Minh City, Mr. Zhang Min, president of Bank of China Malaysia and president of China Enterprises Chamber of Commerce in Malaysia, Mr. Li Zhigang, chairman of Industrial and Commercial Bank of China (Thailand) and president of Chinese-Thai Enterprises Association, Mr. Gu Chaoqing, president of Business Association of China in Vietnam and leaders of Thailand-China Rayong Industrial Park attended the event and delivered speeches in acknowledgement of the significance of the campaign to Chinese enterprises in Southeast Asia. A lot of Chinese business representatives expressed a strong needs for financing and responded enthusiastically to the lectures. Shortly before and after the event, a lot of enterprises contacted the Platform and expressed their needs for financing and hope for the financing services of the Platform.
Photos of the Global Online Financing Public Lectures in Malaysia, Thailand and Vietnam
Conclusion
The Internet is an effective approach to offshore financing service for Chinese enterprises. The Platform leverages the Internet and Fintech to break geographic restrictions and provide overseas Chinese enterprises with diversified, customized and cost-effective financial services. The end of 2019 witnessed the inauguration ceremony of the Platform in Beijing and the successful debut of the Platform in Malaysia, Thailand and Vietnam, and also brought in huge financing needs of Chinese enterprises. In 2020, the Platform will continue to improve the technical expertise, enlarge the scope of service, and work out solutions to financing difficulty of overseas Chinese enterprises.
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