Sheng Ye Capital Limited (Sheng Ye Capital), a professional institution offering accounts receivable financing and other solutions mainly in energy, construction and medical sectors in the PRC, has recently signed a strategic cooperation agreement with the China Construction Bank Shenzhen Branch (CCB Shenzhen). This move is in line with the national strategic plan to promote inclusive finances. One of their goals is to groom and strengthen China’s SMEs.
Like in many other countries, China’s SMEs are indispensable to the economic and social development of the nation. Even more so now with no end in sight for the US-China trade war.
The government clearly sees the importance of SMEs to the economy, evidenced by their highlighting of SMEs’ worth in its advancing of a flurry of policies to nurture inclusive finance so as to alleviate private companies’ financing difficulties.
In observance of the national policies, Shen Ye Capital and CCB Shenzhen are joining hands to offer online inclusive finance services, leveraging their respective advantages such as industry experience, expertise in data analysis and risk assessment, as well as capital resources. Both companies have had a history of proactively supporting SMEs in the supply chain of multiple industries.
Both Sheng Ye Capital and CCB Shenzhen have cooperated in the past. In June 2019, they cooperated in launching a lending initiative, with total credit limit reaching RMB920 million (US$131 million). Such cooperation is testament to the companies’ dedication to serving industries and its technological capability and professional risk control readiness.
As of 30 September 2019, Sheng Ye Capital had served over 3,000 customers, of which 99 per cent were SMEs. Meanwhile, CCB Shenzhen Branch has always been regarded as an industry pioneer in inclusive finance services.