——Innovative Online “Banking-Customs-Guarantee” Business Claims Largest Market Share

　　In the first three quarters of this year, China Everbright Bank did 45,000 banking-customs transactions through its online tariff payment system. The total tariff payment surpassed the 10-billion-yuan mark to reach RMB 10.2 billion. Both the number of transactions and the money involved were 142 percent and 269 percent higher year-on-year. At present, the bank has provided the professional, well-conceived and convenient online tariff payment service to over 600 well-known enterprises.

　　According to the statistical data of the General Administration of Customs, the banking-customs-guarantee business, an innovative online guarantee payment service introduced by the bank on March 1 of this year for the first time in the industry, has been developing rapidly. The total amount of the guarantee tariff payment in the first three quarters surpassed the 5-billion-yuan mark to reach RMB 5.52 billion. Its market share was as high as 41.5 percent, the highest in the industry.

　　The banking-customs-guarantee business was one of the sunshine E products introduced by the bank for online banking. It was based on the banking-customs-clearance business. According to the relevant stipulations of the General Administration of Customs on online tariff payment guarantee, the bank issues a letter of guarantee for tariff payment to the customs houses falling directly under the General Administration of Customs at the request of the export and import enterprises so that the enterprises can enjoy the “release first, collection second” preferential tariff guarantee policy on a 15-day revolving basis. Added with the advantages of “declaration and payment at different places” and the “365 days X 24 hours” uninterrupted customs-clearing service, the move can help relieve the enterprises of their immediate concern of tariff payment and complete their customs clearance and tariff payment. It is an effective tool for the commercial banks to win over the quality customers and amplify general earnings. So far, the bank has formed a full “green express” for customs clearance and tariff payment, consisting of the “banking-customs-guarantee” service, the “banking-customs-clearance” service and the “banking-customs-loan” service.

　　Thanks to its tangible business advantage, growing customer groups and rising brand recognition, the “banking-customs-guarantee” service introduced by the bank has formed visible advantage in market competition. It has also laid an excellent market and customer foundation for a vigorous growth of this business. The dynamic development of the “banking-customs-guarantee” service will gradually become another bright spot and competitive brand in corporate intermediary services.

　　In recent years, the bank has taken full advantage of its strength in e-finance. By focusing on cash management innovation, proceeding from the new online banking service tool and relying on its flexible mechanisms and highly efficient operating teams, the bank has introduced a series of new services for online cash management. On February 15, 2006, the bank became the first in China to complete the first online tax payment through the “treasury-banking-tax” express. In August 2006, the bank again became the first to introduce a system for online inquiry about banking-treasury authorized payment, namely the “banking-treasury” express. By the end of 2006, the amount of the direct payment made by the bank as the agent of the central finance reached RMB 94.6 billion for the year, which accounted for 60 percent of the market segment and ranked first in China. In cooperation with Citibank, Everbright became the first bank in 2007 to introduce the “inter-bank” cash management service.

　　By September 30, the total transactions of the customers of Everbright’s online cash management had surpassed the 2-trillion-yuan mark to reach RMB 2.7 trillion, which accounted for 24.6 percent of the total volume of this kind of transactions and represented another record high. With several innovative products, Everbright won the title of the 2006 award of China’s banking industry for best innovation – e-banking in the 2006 Rating of Financial Operators held in February 2007 by the famous financial website “Hexun”.