Changzhou, Jiangsu: Stabilize foreign trade and escort enterprises to "go global"
In Changzhou Keyi Chemical Co., LTD., bank staff are exchanging recent exchange rate trends with enterprises to customize targeted hedging strategies. Changzhou Keyi Chemical Co., Ltd. is a small and medium-sized enterprise with chemical export trade as its main business, with an export volume of about 15 million US dollars in 2022. In the process of enterprise development, CITIC Bank Changzhou Branch has been providing "butler" financial services, establishing a wechat group exchange mechanism, helping enterprises to install a foreign exchange trading platform, so that enterprises can conveniently and quickly handle various business online. In the first half of this year, the export volume of enterprises increased by 20% to 30% year-on-year. "Through these financial supports, the company's capital utilization is more efficient and operational risks are better controlled." We are confident to win more projects and orders and continue to expand the scale of trade." Changzhou Keyi Chemical Co., LTD. General manager Liu Hongqing said.
Since the beginning of this year, financial institutions in Changzhou have effectively improved the initiative and accuracy of foreign trade financial services, constantly strengthened exchange rate risk management, and expanded the scope of foreign trade services. From January to May this year, Changzhou Branch of CITIC Bank served 352 foreign trade enterprises, added 118 international business customers, and reached 730 million US dollars in international settlement. "We will combine the changes in the current market situation, in the credit support and other services to serve small and medium-sized foreign trade enterprises more vigorously, so that small and medium-sized enterprises have a stronger ability to resist risks." Said Zhu Jia, deputy general manager of international business department of China Citic Bank Changzhou Branch.
