Pioneering "Fourth Card" - Bank of Communications Hangzhou Branch Supports Entrepreneurial Companies to Reach for the Stars
At the beginning of this year, Zhejiang's first ocean satellite, "Blue Carbon No. 1," developed by Xingkong Zhilian Manufacturing, successfully launched and entered its designated orbit from the Jiuquan Satellite Launch Center. Established just five years ago, Xingkong Zhilian is the world's first satellite production factory that deeply integrates aerospace manufacturing and automotive manufacturing capabilities, and China's first commercial satellite super factory with complete supporting capabilities.
From an initial RMB 800 million in mortgage loans to subsequent working capital loans, bank acceptance drafts, and payment services, Bank of Communications has provided a total of RMB 700 million in financing support to Xingkong Zhilian. Bank of Communications' Hangzhou Branch customer manager, Ke Danhong, feels proud and grateful for the satellite that flew over her hometown, as it also received some assistance from her.
A responsible person at Xingkong Zhilian acknowledged that Geely attaches great importance to satellite business. In the subsequent construction period and liquidation phase, they received many olive branches from banks, but Bank of Communications has always been dedicated to providing services, actively approaching customers, discovering needs, and resolving them, which has saved companies a lot of time and labor costs.
"Tai'an has long had the reputation as 'the manufacturing city', and is now fully committed to building a specialized and innovative demonstration city. As bankers, we also hope to be able to provide more assistance." Ke Danhong said that Bank of Communications' Hangzhou Branch has always placed great emphasis on technological finance, and in addition to cooperating with companies like Xingkong Zhilian, has already extended its technological financial services to various industries.
It is understood that Bank of Communications' Hangzhou Branch has established a three-level technological finance management system covering the branch, district branches, and sub-branches, constantly promoting the high-standard construction of provincial technological finance. At the same time, five institutions, including the Hangzhou High-Tech Sub-branch, Hangzhou Lin'an Sub-branch, Wenzhou Leqing Sub-branch, Taizhou Yuhuan Sub-branch, and Jiaxing Branch Office, have been designated as the first batch of technological branches under the supervision of the headquarters, becoming new channels for serving technology-based companies.
Bank of Communications' Chairman, Lü Jiaren, stated at the 2024 annual performance report meeting that Bank of Communications must transform into an industry-oriented, advanced manufacturing, and technological finance institution, forming a "new triangle" loop with technology, industry, and finance. In May, Bank of Communications Financial Assets Investment Co., Ltd. was approved for establishment, becoming the first batch of AIC-licensed shareholding banks, which will also enable Bank of Communications to form new developments in technological finance and maintain its advantages, forming a "fourth card" beyond green banking, wealth banking, and investment banking.
(Auditor: He Xin)