As a vital port city in Northern China, Qingdao boasts a dynamic port economy, with industry leader Shandong Port Group occupying a crucial position in the global shipping and trade network. The cross-border development needs of the group itself and enterprises across its industrial chain's upstream and downstream present a vast stage for financial service innovation. CZBANK Qingdao Branch focuses on addressing corporate "pain points," injecting strong momentum into enterprises' cross-border operations through specialized financial products, thereby creating a prime example of mutually beneficial bank-enterprise cooperation.
Shandong Port Overseas Development Group Co., Ltd. (hereinafter referred to as Shangang Overseas Group), a first-tier subsidiary of Shandong Port Group, is dedicated to deepening its involvement in overseas port investment, operation and maintenance, and cross-border supply chain layout. A key business direction involves exporting domestic equipment and machinery to overseas markets, facilitating the global industrial layout of Chinese manufacturing. As business volume grows, accounts receivable have accumulated, tying up corporate capital. To address this, CZBANK Qingdao Branch, in collaboration with Sinosure Shandong Branch, precisely launched a buyout-type short-term export credit insurance financing product. This effectively helped Shangang Overseas Group remove accounts receivable from its balance sheet, optimizing its financial structure and providing solid financial support for the company to expand into overseas markets unburdened.
This transaction is reported to be the first non-recourse buyout financing of accounts receivable under a short-term export credit insurance policy in Shandong Province. CZBANK Qingdao Branch's excellent product solution and efficient service gained recognition from Shangang Overseas Group. Both parties plan to further explore diversified cooperation areas, including import letters of credit, export forfaiting, and financing secured by goods in overseas warehouses, continuously deepening the value of financial services.
While serving Shangang Overseas Group, CZBANK Qingdao Branch also keenly identified the cross-border settlement "pain points" of a downstream enterprise in its trade chain—a Chinese multinational group primarily focused on investment in Africa. This group faced long-term challenges with receiving payments and exchanging the local minor currency, the Nigerian Naira. In response, CZBANK Qingdao Branch innovatively introduced a Cross-Border Easy Collection solution, assisting the group in successfully settling the minor currency into Renminbi and facilitating cross-border RMB settlement between the parties.
In subsequent cooperation, multiple overseas subsidiaries of this Chinese multinational group also opened accounts and conducted business with CZBANK. The branch's 100% online services provided convenience for the expanding enterprise in handling international settlement business across different regions. Furthermore, addressing the issue of the multinational group's overseas companies needing to pay salaries into the domestic accounts of Chinese employees, CZBANK promptly assisted in resolving the payroll challenge through its batch cross-border salary disbursement service.
"In this cooperation, the branch's buyout-type export credit insurance financing and cross-border settlement services formed a 'twin-engine drive,' vividly demonstrating a customer-need-oriented approach," stated a relevant负责人 from CZBANK Qingdao Branch. "Through product innovation and service upgrades, we deeply integrate into the port economy and cross-border trade ecosystem, providing full-chain financial support for enterprises expanding overseas, ultimately achieving a win-win outcome for all parties involved—the bank and the enterprises." This case also provides a replicable and promotable practical model for financial services supporting the real economy and aiding corporate cross-border expansion.
