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New System to Improve SME Lending

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New System to Improve SME Lending BUSINESS CHINA DAILY HONG KONG EDITION Tuesday, January 26, 2021 Smartphone RIGHT TRACK makers eye New system bigger slice of global pie to improve By MA SI [email protected] Chinese smartphone vendors are eyeing a bigger share of the global SME lending market and become more competi- tive players in the internet of things sector, experts said. Unified registration mechanism to use The ambitions of the companies come at a time when more consum- movable property, rights as collateral ers are ready to upgrade their devi- ces to 5G, while the By CHEN JIA 2021. The Credit Reference Center commercialization of the fifth-gen- [email protected] of the PBOC was designated to car- eration wireless technology is set to ry out the registration service generate new opportunities in the China has established a unified accordingly. IoT sector. Visitors check out a model of the CR929 jet during an exhibition in Shanghai. PROVIDED TO CHINA DAILY national financing registration Analysts said the decision was in Chen Mingyong, CEO of Oppo, system that uses movable property line with requirements under the said the company aims to be a tech and rights as pledges, which is Civil Code and will help improve pioneer in IoT in 2021 with a bigger expected to increase loans for the business environment in the presence in the high-end smart- COMAC: Construction of CR929 small and medium-sized enter- country. phone segment, after it recorded an prises and improve the overall Providing loans for micro, small impressive growth in the past year. business environment. and medium-sized enterprises Chen said in a new year message wide-body aircraft to start this year The unified system has been based on their credit information is that Oppo saw a satisfying growth in expanded across the country since a measure that the central bank 2020 despite headwinds such as the Jan 1, after pilot programs were promoted last year, which facilitat- challenges from the COVID-19 pan- By WANG YING in Shanghai general manager of OTT Airlines, conducted in four cities — Beijing, ed production resumption since the demic. [email protected] China Eastern Airlines’ subsidi- Shanghai, Chongqing and novel coronavirus outbreak, said In Southeast Asia, Oppo main- ary for operating homegrown air- Guangzhou in Guangdong prov- Tian Di, deputy head of the PBOC’s tained its leading position in the Construction of the CR929, a If it is possible, we craft. ince — central bank officials said Credit Information System Bureau. smartphone market. In India, as the wide-body commercial jet being would like to For the moment, the C919 pro- at a news conference. By the end of 2020, 131 corporate company expanded local sales, its developed by Russia and China, is have two or more totypes are undergoing airwor- The People’s Bank of China, the credit information institutions brand preference among local con- expected to start this year, while thiness tests at multiple central bank, was authorized by received approvals from the cen- sumers rose by 33 percent. the C919, a narrow-body aircraft, enterprises as locations, so that they can meet the State Council, China’s Cabinet, tral bank to provide registration In Western Europe and Japan, will be ready for deliveries, accord- suppliers for the all the necessary requirements, to take full responsibility for the and inquiry services to market Oppo’s shipments of smartphones ing to officials from Commercial said Zhai. unified registration system. It entities. The PBOC said that seven more than doubled. Such expansion Aircraft Corp of China, which is core systems, purely On Saturday, the C919 success- started providing support and key market-oriented institutions has helped Oppo grow the number making both the planes. as an insurance fully completed flight tests in inquiry services on Jan 1, and the helped about 2.35 million small of users of its operating system Col- Speaking on the sidelines of Hulunbuir in North China’s Inner nationwide system is running and micro companies receive 1.41 orOS close to 400 million, Chen said. the annual session of Shanghai mechanism. It is Mongolia autonomous region in smoothly, said Zhang Zihong, trillion yuan ($216.2 billion) of “Meanwhile, we have also Municipal Committee of the Chi- also the international extreme weather of -35 C, accord- head of the PBOC’s Credit Refer- credit by the end of last year, with a enriched the portfolio of our IoT nese People’s Political Consulta- ing to Xinhua Finance, an inde- ence Center. nonperforming loan ratio of 1.16 products, unveiled smart TVs, new tive Conference, Yang Zhigang, norm.” pendent financial information A statement from the PBOC said percent, a relatively low level. smartwatches, earbuds and other chief technology officer for R&D Yang Zhigang, and financial data provider. seven types of pledges of movable The measures are effective in products,” Chen said. at COMAC, said the company will chief technology officer for The twin-engine, single-aisle property and rights will be subject helping small businesses get “This year, Oppo will forge ahead soon freeze the aircraft design, R&D at COMAC C919, which is comparable to the to the unified registration. These financing and mitigate the shocks and strive to become the explorer which means no further changes updated Airbus 320 and Boeing’s include production equipment, raw from the COVID-19 pandemic, and leader in the era of integration would be made afterward, new generation 737 planes, made materials, semifinished products said Tian. of all things.” including the actual shape, size, its maiden flight on May 5, 2017. To and finished products, accounts China is establishing the world’s In the context of such goals, Oppo structural materials, systems and 815 date, COMAC has received 815 receivable, deposit slips, warehouse largest database of financial credit number of orders COMAC has is not alone. Smartphone vendors key system suppliers. orders from 28 Chinese and over- receipts and bills of lading, and information and it will be a key received for the C919 so far including Realme, Vivo and Xiaomi “If it is possible, we would like to seas companies. financial lease pledges. component of the national social are intensifying efforts to grab a big- have two or more enterprises as Quite a few test flights are need- Based on the type of pledge of credit system, Chen Yulu, vice-gov- ger share in the global smartphone suppliers for the core systems, or the CR929-600, would be able ed for a commercial aircraft to get movable property and rights, the ernor of the central bank, said in market after Huawei Technologies purely as an insurance mecha- to fly 12,000 kilometers with 280 the necessary airworthiness certif- market entities can apply for regis- December. Co’s overseas phone business was nism. It is also the international passengers onboard, according to icates and it needs to continuously tration within a single system. Analysts said they expect the hampered by a string of the United norm,” Yang, who is also a member COMAC. improve the safety, reliability and It will increase the transparency next five years to be a golden peri- States government’s restrictions on of the standing committee of the The C919, the nation’s first economy parameters, said Lin of real rights for pledges, add to od for developing the credit infor- its supply chains. CPPCC Shanghai Municipal Com- homegrown narrow-body passen- Zhijie, an aviation industry ana- the certainty of realizing the rights mation services market in the Li Bingzhong, CEO of Realme, a mittee, told ThePaper.cn in an ger plane, is currently undergoing lyst and columnist at one of Chi- of secured parties, reduce the risks Chinese mainland. fast-growing Chinese smartphone interview. intensive flying tests, and the first na’s biggest civil aviation websites and costs of credit transactions The government will allow mar- brand, said the company will look to The CR929 is jointly developed aircraft is scheduled for delivery to carnoc.com. and support financial institutions ket-based credit information servi- expand its offline presence and by COMAC and Russia’s United its customer within the year, said In addition to the aircraft model and other secured parties to pro- ces institutions to collect business enrich its IoT portfolios in 2021. Aircraft Corp. Targeting initially Yang. C919 and the CR929, nearly 50 of vide pledge financing, experts and personal credit information, “We will open more than 100 for the aviation markets in both China Eastern Airlines will be the ARJ21 model, a regional plane said. and it will not be restricted to bank stores in India and Southeast Asia countries, it is also capable of the first among global carriers to developed and manufactured by The State Council decided on lending data, said Chen. All types of this year, as part of our broader plan meeting regional and worldwide take delivery of the homemade COMAC, are in operation. More Dec 22 to unify the nation’s regis- credit information services should to open more than 1,000 stores glo- civil aviation demand. The first single-aisle passenger aircraft ARJ21s are expected to be deliv- tration system for movable prop- be approved by the PBOC before bally,” Li said. standard version of the aircraft, C919, according to Zhai Zhigang, ered this year, said Yang. erty and rights pledges from Jan 1, starting the business, he said. Launched in mid-2018, Realme is a fast-growing brand in the world, chiefly relying on its popu- Briefly larity in e-commerce sales chan- nels and its resonance with young Hainan fine-tuning FTP consumers. Shanghai plans carbon According to Li, Realme had emissions peak by 2025 entered just 35 markets at the start policies, says top official of 2020, but the figure jumped to 61 Shanghai aims to bring the city’s by the year-end, as the company ful- By MA ZHIPING in Haikou qualified areas on the island.
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