During the epidemic, how to handle the foreign exchange collection business for export L/C documents?The foreign exchange market fluctuates violently. How to operate the forward foreign exchange settlement business when you are closed at home?
Recently, Shanghai has formulated 50 measures in the "Shanghai Action Plan for Accelerating Economic Recovery and Revitalization", which calls for comprehensively promoting the resumption of work and production of foreign trade and foreign-invested enterprises.Bank of Shanghai continuously optimizes its products and services, takes advantage of cross-regional operations offline, leverages digital empowerment online,and provides featured products such as “Credit Guarantee Loan” and “Foreign Trade Micro-Loan”, as well as online international settlementthrough “Shanghai Yin Zhihui+”. The systemhelps foreign trade enterprises stabilize orders and production.
Offline - "off-site delivery" clever help
Recently, the Bank of Shanghai learned during the process of contacting a small and micro business service-oriented enterprise in Shanghai that its dye export business was affected by the epidemic and the original documents could not be submitted to the banks in Shanghai, and the processing of the foreign exchange collection business for the letter of credit presentation was blocked.Seeing that the export goods will immediately reach the overseas destination port, the issue of export documents is imminent.
Knowing that the relevant original documents of the customer are in other places and cannot be presented in Shanghai, the head office and branch of the bank worked together to quickly set up an emergency team, communicate and coordinate with the foreign branches urgently, and determine the emergency plan for enabling the delivery of documents in other places, so that the customer's export documents The original is successfully sent directly from other places to overseas, which provides sufficient guarantee for the customer's export collection in the shortest time, and solves the urgent need for the customer.
Online - "Shanghai Yinzhihui+" to avoid risks
Recently, the foreign exchange rate market has fluctuated violently. For export enterprises, the hedging business of exchange rate risk has become a top priority.During the epidemic, Bank of Shanghai expeditedly approved the margin-free amount of derivatives credit for a chemical fertilizer and pesticide wholesale enterprise, and opened an emergency channel for online signing of credit contracts.
With the gradual recovery of import and export business in the stage of resumption of work and production, the customer has a demand for forward foreign exchange collection business under export trade. After learning of the situation, Bank of Shanghai immediately customized the foreign exchange derivatives exchange rate hedging for the customer. plan, and simultaneously guide customers to carry out online operations.Clients completed the first forward foreign exchange settlement transaction without leaving their home through the "Shanghai Yin Zhihui+" online platform of Bank of Shanghai, locking the forward exchange rate and reducing the negative impact of exchange rate fluctuation risks on the business development of the enterprise.
Bank of Shanghai has formed a new pattern of integrated development of cross-border business and domestic and foreign currency asset pool business by opening up the two main products of "Shanghai Yin Zhihui+" and "Upward Asset Pool", and simultaneously launched online import payment and online export security. A number of online international trade financing services such as remittances help foreign trade enterprises stabilize production and sales during the period of epidemic prevention and epidemic prevention and resumption of work and production.According to public data,in the first three months of2022, the number of online transactions in the bank's "Shanghai Yin Zhihui+ " international settlement system increased by74.13%year-on-year .
(Editor in charge: Guan Jing)
