Photo taken on May 6, 2015 shows the propaganda column written with "Green finance and jointly building the beautiful China" of Fuzhou branch of Industrial Bank. (Xinhua/Jiang Kehong)
BEIJING, May 9 (Xinhua) -- Industrial Bank, one of the major commercial banks in China, put recently into operation a digitalized cross-border treasury management product for its foreign-funded enterprise clients, reported Shanghai Securities News.
The bank said the bank-enterprise direct linkage service based global fund management platform can facilitate foreign-funded enterprise clients' access into the global fund management network built by their group companies and provide them with a series of treasury management services such as account reconciliation, payment and settlement.
It thus helps its foreign-funded enterprise craft a full-process, digital and integrated fund management system to integrate seamlessly with the treasury management work of their parent companies abroad.
For instance, a foreign-funded Fortune 500 company in China which has used the platform shortens the processing time of a remittance transaction from certain minutes to certain seconds, largely easing the workload of related staff and in the meantime realizes system connectivity with its parent firm outside China, bringing them online and visualized global fund management.
As the bank's financial director introduces, the bank-enterprise direct linkage service based product is characterized by its intelligent identifying and automatic treatment of corporate messages without manual intervention, speediness when the full process put online by both corporate clients and the bank allows fully automated treatment of RMB remittance in China, and stable system operation.
Prior to the debut of the platform, Industrial Bank has rolled out multiple treasury management products such as the cross-border capital pool services for China-based enterprises to go global. Together with the platform, the bank has formed a complete set of digitalized global fund management product system and resolutions to support cross-border treasury management of China-based transnational companies and foreign-funded enterprises in China.
By now, Industrial Bank has provided services to more than 120 China-based transnational companies and 60-plus foreign-funded enterprises in China. (Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
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