Industrial Bank : Assist Enterprises to “Go Out” Industrial Bank Cross-border Fund Pool Fully Upgraded

The reporter recently learned from Industrial Bank (IB) that its cross-border fund pool has been fully upgraded to provide complete online services for multinational group enterprises to manage their fund in different countries. After the upgrade, IB will be able to better facilitate multinational groups to collectively manage and allocate their funds at home and abroad, collect and make payment under current accounts across the border and settle the exchange collectively.

According to introductions, the IB cross-border fund pool system consists of cross-border forex fund pool and cross-border RMB fund pool, capable of fulfilling multi-faceted fund demands of enterprises. In terms of system design, IB follows the principles of better client experience and optimized flow and makes innovative designs in the account structure, quota design of net inflow and outflow and data transmission so as to ensure user-friendly operation. Meanwhile, individual system supports are available according to the special requirements of clients in fund management.

The cross-border bidirectional fund pool is a cutting-edge product of trading banks and represents a development trend of the 'Belt and Road' and 'Going out' strategies. It is a key product designed to meet the demands of multinational enterprises to collectively manage their fund at home and abroad.

A large enterprise of China is engaged in the R&D and production of high-tech products. Its products are sold across the globe. The company has 78 subsidiaries in China and 7 out of China. In 2015, the operation income of the company exceeded RMB 30 billion and the annual foreign exchange received exceeded USD 800 million. In recent years, as the group keeps going global, it has made more demanding request for cross-border fund management. In April 2015, this company cooperated with IB in the cross-border forex fund pool business to collectively the foreign exchange of its 12 affiliated enterprises at home and abroad. With the help of the fund pool, totally USD 400 million of fund has been allocated across the border.

'With the help of IB, we optimized the fund configuration of the group, enhanced capital yield, facilitated cross-border fund allocation, and reduced the cost and FX risk of fund management, making us more confident in 'going out'.' said by a relative person of the group.

By the end of 2016, IB has provided high-quality cross-border fund pool service for more than 40 medium- and large-sized multinational groups in food, electronics, real estate, energy, automobile, Internet and other industries. Relying on this business, IB also provides clients with comprehensive and full credit extension from home and abroad as well as supporting service of currency hedges, so as to meet their diversified fund demands for multinational operation.

As the national 'Belt and Road' strategy keeps progressing, enterprises 'going out' also have more requirements on the financial services provided by banks. IB will take advantages of its collectivized and multi-licensed operation to provide enterprises with comprehensive cross-border financial services and solutions through its onshore, offshore, domestic, overseas banks, operations in FTZs and its financial platform integrating local and foreign currencies.

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