Today’s guest:

Zhang Xiaolei, Chief Executive Officer, President and Vice-Chairman of the Board of Directors, Standard Chartered Bank (China) Limited

Q: Standard Chartered Bank will participate in the first China International Import Expo (CIIE). Why makes the company choose to attend the expo?

A: The mission of Standard Chartered Bank is to promote commercial prosperity and human welfare with its unique diversity. Attending the expo will allow us to find more and better opportunities to support China’s economic transformation, its consumption upgrade, and the global bilateral and multilateral trade, facilitate the global flow of commodities, services (intellectual properties), personnel, funds, and information.

One thing deeply rooted in Standard Chartered Bank’s DNA is to support cross-border trade. We have been engaged in trade financing since our foundation in the 19th century, which makes us one of the world’s leading banks in trade financing with projects covering 70 markets around the globe. Currently, we have rich experience and resources in providing short-term trade financing and foreign exchange management, and we are glad to support exhibitors and buyers in the expo with our services.

We are one of the first banks to be granted direct access to China’s Cross-border Interbank Payment System, and possesses a strong network of onshore and offshore renminbi services in more than 36 countries and regions. Our specialized and professional teams will be available to serve the expo.

In particular, nearly 70 percent of Standard Chartered Bank’s global branches are in countries and regions involved in the Belt and Road Initiative, making us one of the few international banks able to facilitate the growth of trade and investment in those markets. In most of those countries and regions, we have operated for more than 100 years and have a profound understanding of the local policies, economies and cultural environments. With our comprehensive products and top financial services, we hope to become an indispensable partner for the Belt and Road Initiative.

Q: How has Standard Chartered Bank prepared for the expo?

A: The services we provide for participants of the expo can be summarized into four aspects: short-term trade financing, cross-border financing, foreign exchange risk management, and regional risk management, which prove to be the most helpful for export and import business.

First, foreign suppliers normally require importers to pay deposit or prepay for goods. The capital demand can be met by financing products. International banks can help companies utilize capital home and abroad, reduce financing costs, and expand financing channels.

Second, international banks can provide seamless transaction for the two parties, avoiding delays or errors between buyers and suppliers in otherwise cross-bank payment, which may cause companies to loose business chance.

Third, trade companies face the impact of exchange rate fluctuations, but experienced international banks can provide them with comprehensive foreign exchange solutions, including money exchange and transfer, forward exchange transaction and foreign exchange swap, that can help companies control the exchange rate risk.

Fourth, it is difficult for domestic companies to assess overseas risks when importing goods from a foreign land, therefore they are subjected to unforeseen changes and may fail to secure stable sources of procurement. With the help of banks with global networks, companies can gain more market insights and valuable suggestions.

Q: In July, Shanghai rolled out 100 new measures to expand its market access for foreign companies in respond to the national policy of further opening up. Nearly a third of these policies are in the financial sector. What does Standard Chartered think of these new policies?

A: Standard Chartered Bank welcomes the introduction and implementation of policies on opening up and relaxing market access in the financial sector. These proactive measures will expand foreign financial institutions’ business in China and accelerate the reform of Chinese banks. We have been greatly encouraged by these measures along with other foreign banks. To further expand the financial sector not only reflects China’s opening up at a higher level, but also promote deeper integration between international and domestic markets. We believe the opening up of financial sector will have a profound significance in China.

With the opening-up policies, the financial industry has witness great changes, one of which is the various innovative financial products and services as a result of competition. Based on our global network, transnational management experience, and well-established products, Standard Chartered Bank has offered featured financial services including trade financing, structured finance, international trade settlement, foreign exchanges and derivatives, cash management, and wealth management, to meet the needs of the Chinese market. We have also developed financial products and services suitable for the Chinese market in consumer finance and finance for small and medium-sized enterprises to help them solve money problems.

We have also cooperated with Chinese banks in fields like credit cards, liquidation, currency swapping, asset securitization, cross-border services, internationalization of renminbi, overseas mergers and acquisitions, and transnational operations, thus providing more comprehensive financial services to clients and promoting the integration of the Chinese financial market into the world.