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Industry

​Shanghai launches 2.0-version big data inclusive finance app to better serve banks, SMEs

May 21, 2021


Abstract : East China's Shanghai Municipality on Wednesday launched the 2.0-version big data inclusive finance application to better serve related banks and the small-, medium- and micro-sized enterprises, reported stcn.com Wednesday.

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Photo taken on Nov. 4, 2020 shows a light show at the Lujiazui area in Shanghai, east China. A light show themed on the China International Import Expo (CIIE) was held in Lujiazui of Shanghai on Wednesday. (Xinhua/Zhang Haofu)

BEIJING, May 21 (Xinhua) -- East China's Shanghai Municipality on Wednesday launched the 2.0-version big data inclusive finance application to better serve related banks and the small-, medium- and micro-sized enterprises, reported stcn.com Wednesday.

As Shanghai's first demonstration application for public data openness, the big data inclusive finance application provides banks with access to nearly 400 items of public data closely related to inclusive finance, including company registration, social security payment, housing provident fund, tax payment, recognition of high-tech enterprises, invention patent, trademark registration, house property mortgage, administrative penalty, judicial litigation, and so on.

Till now, 18 banks have used the data on the platform for more than 2 million times, and the platform has served more than 54,000 companies, providing data support for more than 70 billion yuan of loans to SMEs.

The 2.0 version realizes for the first time the opening of public data on agricultural management, civil administration and other areas to financial institutions.

In addition, on the basis of the first batch of open public data, the Shanghai Municipal Tax Service has further opened up tax information data such as change registration information and declaration information on the application.

The upgraded version application serves nine more banks including Shanghai Huarui Bank (SHRB), increasing the number of banks under its service to 27.

Moreover, it supports the participation of financial markets and insurance institutions, and extends the application scenarios of big data inclusive finance to listing review, identification of technological and innovative businesses and insurance.

Three financial markets including Shanghai Stock Exchange, Shanghai Insurance Exchange, and Shanghai Equity Exchange, and three insurance institutions including China Export & Credit Insurance Corporation Shanghai Branch, the People's Insurance Co. (Group) of China Ltd. Shanghai Branch and China Pacific Anxin Agricultural Insurance Company Limited Shanghai Branch have accessed the application for the first time. Up to now, 33 financial institutions have participated in the pilot program.

In the next step, Shanghai will focus on solving key and difficult problems in services related to inclusive finance and further explore financial values of public data, with the aim to make this application a benchmarking and exemplary one in Shanghai's digital transformation.

(Edited by Wang Yuhang, Gu Shanshan with Xinhua Silk Road, gushanshan.1987@163.com)

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Keyword: SMEs Shanghai inclusive finance

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