Recently, McKinsey released the report “Sustainable Development: Global Finance Industry Practices and Explorations”, which indicates that the sustainable finance market has flourished in recent years. From a global perspective, in 2021, the global carbon quota trading market will reach $851 billion; the annual issuance scale of sustainable financing will reach $1.6 trillion, with an annualized growth rate of over 60% in 5 years.
The report “Sustainable Asia and the World – Green Transformation Asia in Action” released at the 2022 Boao Forum for Asia Annual Conference on April 20 put forward nine recommendations for action to promote green transformation.
In recent years, the international influence of sustainable finance has expanded. The United Nations, the European Union, the United States and the United Kingdom and other international organizations and developed countries have successively introduced policies and measures to promote the development of sustainable finance, and sustainable finance has become the most cutting-edge development trend in the financial field. For emerging commercial banks, developing sustainable finance is not only a corporate social responsibility, but also a market and opportunity.
In the context of the vigorous development of international trade, the development of small and medium-sized trade enterprises has entered the “fast lane”, with not only the rapid growth in number, but also active operation and strong demand for cross-border financial services, a new market for the expansion of banks. As for financial services for the real economy, many small and medium-sized trading enterprises has the characteristics of wide geographical distribution, small business scale and customization of cross-border financial services. Although the multi-level financial market system is constantly improving, there are still challenges on the supply side of the cross-border financial service market. Emerging commercial banks can only stabilize by focusing on and deeply cultivating small and micro finance and providing services for small and medium-sized trade enterprises that were originally underserved by financial services, customer base and promote new development momentum.
U.S. Commercial Bank CBiBank is building an inclusive financial service system through “technology + service”. CBiBank supports all online processing, opening accounts within seven working days at the earliest, and has successfully launched functions such as public-private account interchange, wealth management and salary payments on the basis of cross-border payment and settlement services to facilitating small and medium-sized trade. Enterprises can meet the financial needs of customers in different scenarios.
According to Sam Su, Chairman of CBiBank, under the wave of financial technology, information technology has enhanced the sustainability and inclusiveness of bank financial services. Taking CBiBank as an example, on the one hand, the use of mobile Internet, big data, cloud computing and other technologies has effectively lowered the threshold of banks, expanded the service coverage, improved service efficiency and risk control level, and CBiBank plays an important role in supporting small and medium-sized trade enterprises. On the other hand, information technology promotes CBiBank to continuously carry out product and service innovation, pinpoint accurately locate cross-border financial needs, and provide a more focused and efficient service experience for small and medium-sized trade enterprises.