Bank of China: A Beacon of Hope, Illuminating the Dream of a Strong Auto Nation
Data shows that in 2024, China's auto industry with a revenue scale of over RMB 10.65 trillion became the first pillar industry in the national economy, and the entire industrial chain production value accounted for about 10% of the country's GDP.
To understand the development of China's auto industry, one must enter the cradle of new China's automotive industry - Changchun. In 1953, the first automobile factory in China was founded here; in 1956, the first "Liberation" brand car was delivered here. Over the past 70 years, the word "automobile" has deeply engraved itself in the bloodline of Changchun's people, and the auto industry has occupied half of the city's industrial development.
Currently, Changchun is advancing towards a trillion-level automotive cluster, and the industry's leapfrog development cannot be separated from financial support. The Changchun branch of Bank of China stands tall in the auto industry, combining its own advantages to help local automotive supply chain companies develop, providing professional financial services to "reduce costs, save time, and reduce expenses" for Changchun people.
Following the live broadcast team's footsteps together with Bank of China, visiting the auto industry city, feeling the engine of finance how it assists in the high-speed development of the automotive cluster.
Bloodline flowing, Changchun's automobile dream
Changchun City and surrounding areas have over 1,000 auto parts suppliers, which are the "micro-vascular" of the automotive industry, ensuring stable development.
Changchun Xuanyang Carpet Industry Co., Ltd. (Xuanyang Carpet), dating back to 1993, has always focused on producing automobile soft interior products, not just limited to interior design. "Soft interior is not a simple decoration; it's a technological innovation involving acoustic and thermal management of the entire vehicle." said Mr. Lǐ Shìjié, Vice President of Xuanyang Carpet.
According to reports, Xuanyang Carpet currently has over 90 patents and provides products and services for 350,000 vehicles annually, covering more than 70 vehicle models of well-known brands, including 20 new energy vehicle models.
"We are marching towards multiple leading national brands markets; we have confidence and ability to achieve the ideal of becoming a leading enterprise in the nationwide automotive soft interior industry." said Mr. Gāo Yúnghuì, Secretary-General of Changchun Xuanyang Industrial Group Co., Ltd.
"Automobile dream" is not just a dream, but an action, flowing through the bloodline of Changchun's people.
Workers in Xuanyang Carpet and Rongcheng Stamp's workshops, most of whom are born-and-bred Changchun people, are the ones who make up the backbone of this dream.
"Although we don't produce whole cars, we hope to make a difference through our efforts to improve the quality of the entire vehicle and let Changchun's automobile name card go global." said Mr. Lǐ Shìjié.
Silver thread, joint construction of the automotive industry chain
Changchun people's automobile dream has Bank of China to guard it; Bank of China's benevolent heart has the auto city to support it.
Standing tall in the auto industry, Bank of China's Changchun branch is committed to providing multi-faceted and personalized services to automotive ecosystem companies, injecting growth momentum into their development. "For white-listed production-type suppliers within the First Automotive System, we have tailored scenarios-based solutions. Companies can use these as collateral to secure loans, orders, and cash flow returns." said Mr. Wáng Hǎoqián, responsible person of Bank of China's Changchun branch.
The core advantage of scenario-based lending is that it focuses on "understanding" and "speed". Just like a sprint, if you don't understand the rules, you'll fall behind. If you're slow, you might miss the opportunity." said Mr. Wáng Yuán, excellent team leader of Bank of China's Changchun branch.
Mr. Yán Qíngwǔ believes that silver thread cooperation is not just about meeting financing needs, but also pursuing joint development on the long-term road ahead. "We need a bank with a global vision to help us grow."
Bank of China's comprehensive financial services advantage lies in its ability to provide one-stop services for clients, including payroll outsourcing, employee credit cards, and insurance products. "About 80% of our client enterprises use Bank of China's insurance services." said Mr. Wáng Hǎoqián.
"Industrial manufacturing companies' growth cannot be separated from the support of the financial system. Our in-depth cooperation with Bank of China has provided a significant boost to our company's development, and we look forward to further collaboration." said Mr. Gāo Yúnghuì.
In the future, Bank of China will continue to upgrade scenario-based projects, leveraging big data capabilities to create a seamless experience, reducing the number of materials clients need to provide, and standardizing online operations for greater convenience. This will help more small and micro enterprises in the automotive supply chain, including Xuanyang Carpet, grow and thrive.
The development of the industry is backed by technology and finance. On this soil that bears the initial heart and dream of China's automotive industry, Bank of China stands tall with "silver thread fusion" and "benevolent financial services", working together with countless Changchun automobile people to paint a bright picture of a strong auto nation.