"Shipping Empowerment, Financial Leadership" Bank of Communications Qingdao Branch Successfully Holds Shipping Finance High-Quality Development Conference

Sourced from: Xinhua Finance

On March 30, the Shipping Finance High-Quality Development Conference, hosted by the Bank of Communications Qingdao Branch, was held at the HaiTian Hotel in Qingdao. Meng Qingbin, Chairman of the Qingdao Municipal Committee of the Chinese People’s Political Consultative Conference and Executive Group Leader of the Qingdao International Shipping Center Construction Special Working Group, attended the meeting. Leaders from relevant units such as the People’s Bank of China Qingdao Branch, the State Administration of Foreign Exchange Qingdao Branch, the Qingdao Municipal Bureau of Commerce, and the Office of the Financial Affairs Committee of the CPC Qingdao Municipal Committee attended. The conference, themed “Shipping Empowers, Finance Leads,” invited representatives from more than 120 shipping-related enterprises in Qingdao, to build a platform for multi-party communication and cooperation among the government, banks, enterprises, and insurance parties, and to explore innovative paths for shipping finance, helping to build a Qingdao International Shipping Trade Finance Innovation Center.

At the event site of the Shipping Finance High-Quality Development Conference, photo provided by the Bank of Communications Qingdao Branch

In his remarks, Lu Weihua, Deputy General Manager of the International Business Department / Offshore Finance Business Center of the Bank of Communications Head Office, said that building a Qingdao International Shipping Center is an important practice for implementing the strategies of strengthening the ocean and strengthening transportation. As a globally systemically important bank, the Bank of Communications has always remained true to its original mission of serving the public through finance. It regards serving national strategies and supporting the real economy as its core mission, deeply integrates into the construction of the Qingdao International Shipping Center, and gives full play to its advantages in comprehensive operations and globalized services, providing strong financial support for Qingdao in “accelerating the development of a world-class international shipping center.”

Around the high-quality development of shipping finance, participating guests shared and exchanged ideas. The Bank of Communications Head Office’s International Department introduced the “End-to-End Cross-Border Financial Services Solution for the Shipping Full Industry Chain,” focusing on trends toward shipping green transformation and digitization, and providing integrated cross-border financial services. JiaoYin Financial Leasing shared the “Financial Leasing Services Solution for Shipping Enterprises,” and, based on different business scenarios and case studies, introduced the types of vessel leasing businesses and explored cross-border RMB business. The Bank of Communications Hong Kong Branch, covering the entire cycle of ship building, operation, and sale, introduced diverse shipping finance products and shared experience in cross-border financial services. China Export & Credit Insurance Corporation’s Shandong Branch provided a detailed interpretation of the overseas deployment plans of ship-owning and shipping enterprises and related credit insurance support services, offering risk protection and policy support for companies to expand into international markets.

The Bank of Communications Qingdao Branch will take this event as an opportunity to continue to deepen its efforts in the field of shipping finance, adhere to a political stance in serving national strategies, focus on strengthening group coordination to optimize resource-based services, further deepen digital empowerment to improve the quality and efficiency of services, and build an ecosystem of coordinated efforts to consolidate development momentum. Using the “BOCOM Shipping” brand as a key driver, it will inject stronger financial momentum into Qingdao’s building of an international shipping hub and into the national strategy of strengthening the ocean and marine economy. (Hu Leijian)

Edited by: Zhao Ding