CIIE Time: Bank of China Builds Financial Network to Serve CIIE

Summary

Bank of China, the sole strategic partner of the China International Import Expo (CIIE), has served the expo for nine consecutive years. In March this year, at the ninth CIIE promotion event in New Zealand, Bank of China Shanghai Branch, in collaboration with Bank of China New Zealand, organised more than 30 New Zealand companies to participate in the CIIE, with a signed exhibition area exceeding 1,000 square metres. Since the start of this year, under the guidance of its head office, Bank of China Shanghai Branch has worked with domestic and overseas institutions to support 16 overseas exhibition promotion routes covering 18 countries and regions, and supported two 'Export to China' themed country events as well as five online promotion sessions for Canada and one for Angola.

In matchmaking services, Bank of China has served the CIIE trade and investment matchmaking conference for eight consecutive editions. Relying on the 'BOC e-Enterprise Win' platform, since 2018 it has cumulatively recruited more than 36,000 domestic and overseas companies and facilitated more than 5,600 cooperation intentions. During the ninth CIIE, Bank of China will adopt the theme 'Gathering at CIIE, Connecting the World' and innovatively build a '1+1+1+6+N' matchmaking service model, and set up an 'Export to China' trade negotiation zone.

In addition, Bank of China released the 'Comprehensive Financial Service Plan for the Ninth CIIE', integrating cross-border settlement, financing and credit enhancement, cash management, exchange rate hedging and other products and services around four scenarios: 'financing the world, linking business opportunities, creating the future, and enjoying worry-free service'. Inside the venue, it provides translation in 12 languages, multi-currency exchange and departure tax refund services. It currently offers exchange services for 36 foreign currencies, has deployed more than 20 self-service foreign currency exchange machines in key areas of the city, and works with more than 140 authorised exchange agencies.

A responsible person from Bank of China Shanghai Branch said the bank will adhere to the fundamental purpose of financial services and continue to amplify the spillover effects of the CIIE.

Commentary

Bank of China has been the sole strategic partner of the CIIE for nine consecutive years, and its global service network has become an important bridge for New Zealand small and medium-sized enterprises (SMEs) to enter the Chinese market. The New Zealand promotion event in March this year organised more than 30 companies to exhibit, with a signed area exceeding 1,000 square metres. Behind this is the market access dividend brought by tariff reductions following the upgrade of the China-New Zealand Free Trade Agreement.

New Zealand SMEs should pay attention to the precise matchmaking services provided by the CIIE platform, especially the data from the 'BOC e-Enterprise Win' platform, which has cumulatively recruited 36,000 companies and facilitated 5,600 cooperation intentions, indicating a significant improvement in cross-border matchmaking efficiency. From an industry perspective, Bank of China's comprehensive financial service plans in cross-border settlement, exchange rate hedging and other areas can effectively reduce transaction costs and exchange rate risks for New Zealand companies exporting to China. At the same time, the spillover effect of the CIIE in turning 'exhibits into commodities' provides a conversion path from exhibition stands to retail channels for New Zealand specialty products such as dairy products, honey and wine.

On the other hand, Bank of China's investment in payment facilitation, such as exchange services for 36 foreign currencies and departure tax refund services, also lowers the hidden barriers for New Zealand businesspeople coming to China to exhibit. For New Zealand SME owners, using the CIIE platform is not only a trade opportunity but also a strategic window to observe Chinese market consumption trends and connect with local partners. Bank of China's layout in the artificial intelligence experience zone and cross-border e-commerce zone also suggests that New Zealand companies can pay attention to new channels of digital trade and technological empowerment.

Keywords: Bank of China, CIIE, financial services, cross-border matchmaking, New Zealand companies, BOC e-Enterprise Win, departure tax refund, trade and investment matchmaking conference

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