Beijing, October 18, 2016
CRIF and Bohai Credit enter into a strategic partnership to help solve the financing problems of Chinese enterprises
On October 18, 2016 in Beijing, CRIF signed a collaboration agreement with Bohai Credit, a credit information company operating under HNA USOLV, a subsidiary of HNA Group, with the objective of building a supply chain finance platform to help micro, small and medium-sized enterprises in China to access credit, and manage the high costs of financing and the risk of over-indebtedness.
By capitalizing on CRIF’s solid experience in the management of business operations, in the development of credit solutions at a global level and analytics and data modeling capabilities in the supply chain finance, combined with the extensive data assets of HNA Group, a Fortune Global 500 company, the two parties will launch a supply chain finance platform offering comprehensive multi-dimensional financial services in China.
The business needs of enterprises throughout the trading process will be the focus of the credit system in the supply chain finance platform. By considering the risk factors of accounts receivable financing and VAT refund financing, the system will support platform users by providing multi-dimensional data, professional analysis and predictive information, streamlining the assessment of business partners and potential business risk.
With the customized financial solution, the supply chain finance platform can also provide users with financial consultation such as a credit pricing strategy and duration strategy service, helping Chinese micro, small and medium-sized enterprises to make wise financial decisions and effectively improve credit access processes.