Three Internet Banking e-Trade Products Launched in Zhejiang

On February 25th, three internet banking e-trade products jointly developed by CCB and Alibaba were officially launched online at the Alibaba portal in ZhejiangProvince other than in Ningbo.The three products were: Internet Merchant Supply Chain Loan , Internet Joint Guarantee Loan and "e-Trade Quick Finance .

The newly introduced Internet Merchant Supply Chain Loan is a loan service offered by CCB to suppliers who have obtained orders from big buyers.The other two products, Internet Joint Guarantee Loan and e-Trade Quick Finance which were respectively launched in pilot schemes in Hangzhou, Jiaxing, Huzhou and Shaoxing in November and December last year, have already received fervent responses from the market.Just for the Internet Joint Guarantee Loan, 620 applications have already been received from enterprises in the pilot cities within a three-month period.Of these, 218 enterprises have already formed joint-guarantee circles among themselves, and, so far, 12 joint guarantee circles involving 37 enterprises have received CCB loans.As at February 26th, CCB has extended RMB175.7 million of e-trade loans to 57 small enterprises.

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