PPR pipe

China Construction Bank and Ecommerce Leader

Posted by: pprpipe on: July 5, 2010

China Construction Bank and Ecommerce Leader

BEIJING, July 1 /PRNewswire-Asia/ — China Construction Bank (CCB) and leading online wholesale marketplace DHgate.com yesterday signed a strategic cooperation agreement, china wholesale marking the beginning of a pioneering microloan initiative. The initial phase of this partnership will see the joint development of a new line of credit products designed to help China’s international export-oriented small and medium enterprises (SMEs) overcome financing barriers.

The “eMicro” network of credit products leverages gucci bags DHgate.com’s transactional data to evaluate a business’s order opportunities, rather than relying on traditional credit criteria. The new scheme not only lowers the entry barrier for SMEs and provides incentives to improve their quality and service for the international market, it also gives international buyers a wider variety of product options.

“We are very pleased to partner with China Construction Bank to provide microloans, which are essential to online business growth. For the majority of DHgate.com’s SME suppliers, this will undoubtedly help drive business innovation, benefitting our larger international community. This microloan program has a very real cheap handbags social impact,” said DHgate.com’s CEO Diane Wang.

Opening Opportunities through Online Microloans

SMEs across the world often fail to meet conditions that banks traditionally require for successful loan applications. As their champion, DHgate.com is continually developing services which support their progression, both in China and around the world.

In this initial phase, registered suppliers on DHgate.com will be eligible to apply for the “eMicro” finance products; products which use more practical criteria to assess credit worthiness and control risk. DHgate.com will be able to facilitate the loans by accumulating application submissions to CCB, analyzing sellers’ transactional data and credit records, and working with CCB’s online credit check systems.

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