Source： hnr.cn Time：2019-04-08 23:02 Pageviews：467
HNC (Reporter/Ruan Haifeng, Wang Shaoqing, Chen Weiran, and Yan Zidan; Article/Hu Wei; Photo/Duan Jinzhe) On April 8th, Zhengzhou Forum on International Business Environment of the 13th China Henan International Investment & Trade Fair (CHIFIT) was held. The forum centered on the theme of business environment. Famous experts at home and abroad were invited for communication and discussion with the same purpose in promoting the business environment in Henan as well as providing strong support for Henan to comprehensively improve its openness and foster new development growth driver.
"This is my first visit to Henan Province. I have also been to Beijing and Shanghai. Before coming here, I read information about Henan and the opportunities in Henan. I really saw many opportunities here in Henan, and felt that Henan did make great efforts to strengthen investment opportunities in the region." Vinay Ahuja, DFDL Partner of Association of Southeast Asian Nations (ASEAN) (Singapore, Indonesia, Thailand and India, etc) and Head of the Regional Banking and Finance Practice Group said in his speech.
Ahuja shared his opinions on how Henan enterprises can obtain credit. "Bank accounts are very important in getting credit, but in fact a large proportion of people still do not have bank accounts. Meanwhile, our banking system needs to find ways to attract these customers."
"The judicial process is another important factor for credit. If the judicial process last for three to five years yet there is still no way to obtain credit, it will restrict companies’ investment." Ahuja said.
Ahuja took the ASEAN market as an example. "ASEAN has a population of 600 million, 73% of whom do not have bank accounts. It means only 37% of the population have bank accounts. They still use the very old remittance method to transfer funds. I believe a financial technology company for such people that have no bank account should take three main tasks: (1) basic data and analysis; (2) short-term lending; (3) mobile phone service." Later, Thailand was used by Ahuja as another example. "Only 78% of the people in Thailand have access to banks, but their mobile phone penetration rate is 133%. According to the data, if basic mobile phone services are available for all people, we can also teach them the basic knowledge of how to obtain credit by mobile phones. Similarly, the introduction of local credit guarantee policies can ensure the implementation of local credit and financial policies. For short-term debtor, we can provide small and short-term loans. I am sure that this can help related financial technology companies improve their credit rating as well. Just like the data of Thailand I cited, if Thai companies can start with basic data analysis and analyze their purchasing or customers, they can prove that it is profitable. Everyone likes to make profits. If the companies can prove that through this process the customer can make profit, then the customer will believe that they can pay off the credit."
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