Recently, CCB has brought out “e-Trade”, an online trade settlement product targeted at corporate (institutional) customers.  e-Trade boasts a complete range of powerful functions closely matching customer needs.  With a humanistic design and a security system certified by China Financial Centre, it is a safe and reliable product and is the best of its kind in the banking industry in China.  To date, e-Trade has been adopted by 70 corporate customers.

e-Trade changes the way international settlement business is traditionally carried out in CCB: that a customer has to submit an application together with related authorisation documents through CCB’s counter for approval before settlement can be arranged.  With e-Trade, there will be fully automated transmission of trade financing information between customer ends and CCB’s back office.  Backed by CCB’s online corporate banking platform, this new generation international settlement system allows customers the luxury of enjoying CCB’s one-stop diversified international settlement service at any time and from any place without ever setting foot on the street.

e-Trade is specially design to provide CCB customers with an online solution for trade financing businesses.  This is a product providing one-stop services in international settlement covering the whole complex of import and export processes and can be used to provide an “all-weather supervisor” function for import-export trade.  This is a very important function for CCB’s trade financing products.  As long as the internet is hooked up, customers can enjoy the 7/24 all weather service of the e-Trade system.

An international business revolving around trade financing and international settlement is a strategic development area for CCB.  While competition for China’s domestic market is becoming white-hot among the four Chinese state-owned banks, foreign banks and various small to mid-size joint-stock banks, competition in financial products and systems is vital in the fight for market share.  With internet technology developing day by day, and with financial products and systems being innovated and developed faster and faster, the demand for online trade settlement by medium to large corporate customers over the world has become keener all the time.  CCB's conformance to trend by launching of its e-Trade system will be advantageous to its building a good brand image in trade financing.  In addition, it has great significance in its planning and establishing a strategic international trade financing platform.