Trade finance hong kong trading card shop online

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Trade Finance & Invoice Finance solutions for businesses in Hongkong to trade, import or export goods. Access banks, funds & alternative lenders heathmagic.deted Reading Time: 2 mins. Contact the Hong Kong Trade Team Learn about Trade Finance What is trade finance? Trade Finance is the financing of goods or services in a trade or transaction, from a supplier through to the end buyer. It accounts for 3% of global trade, worth some $3tn heathmagic.deted Reading Time: 7 mins. 14/12/ · Trade Finance. In order to move trade finance into the digital era, the HKMA, in collaboration with several local banks, completed a Proof-of-Concept (PoC) work on trade finance in March Riding on the success of the PoC work, seven banks in Hong Kong decided to commercialise the prototype into production with a view to digitising paper-based. Trade Finance. Our trade finance offer funding options to Hong Kong based companies that are seeking a long term financial partner who can provide significant capital on an ongoing basis for growth or any other business purpose. We offer real trade finance solutions that include non-recourse invoice factoring, accounts receivable financing.

Pursue your import and export business with confidence with a funding partner that understands business on a global scale. Financing your full supply chain with risk mitigation techniques to optimize working capital and liquidity in the supply chain. Funding solutions to help exporters help develop their overseas business profitably and with confidence.

We bring a whole suite of flexible state-of-the-art and professional grade trade finance solutions that include invoice and accounts receivable financing, import and export factoring, PO funding and supply chain finance. Our program features include:. These funding options are available to Hong Kong companies and companies and exporters from around the world that are exporting their goods and services on a global scale.

Facilitating the export of goods and services and help exporters develop overseas business profitably and with confidence. These facilities can also help companies accelerate cash flow, improve collections and control exposure to bad debts. Our affiliate network has offices on 4 continents combining a global reach with local expertise across key markets. Exporters will be working with a team that specializes in cross-border transactions with an emphasis on eliminating trade risk and cash flow problems with trade finance solutions that include non-recourse export factoring invoice financing supply chain finance and other options.

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  1. Aktie deutsche lufthansa
  2. Bitcoin zahlungsmittel deutschland
  3. Wie lange dauert eine überweisung von der sparkasse zur postbank
  4. Im ausland geld abheben postbank
  5. Postbank in meiner nähe
  6. Binance vs deutsche bank
  7. Hfs immobilienfonds deutschland 12 gmbh & co kg

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The HKMA Hong Kong Monetary Authority has announced the completion of phase one of a proof-of-concept PoC that will allow banks in Hong Kong and the mainland to execute cross-border trade finance transactions. Work on the PoC was announced last November following the signing of an MoU between Hong Kong Trade Finance Platform Company Limited and Shenzhen Fintech Research Institute to connect eTradeConnect and the PBOC Trade Finance Platform.

The PBOC Trade Finance Platform was also first deployed for testing in A pilot run was initiated in October Seven banks have already used the connection to conduct trade financing transactions, with the total trade value exceeding HKD 26 million, the regulator said. The HKMA says phase two of the PoC is tentatively scheduled for early , covering more types of trade activities and financing products.

Separately, eTradeConnect has completed of two other PoCs, both aimed at facilitating trade financing. The first links banks to a real-time ocean carrier and terminal data via a global shipping network, a project that involved collaboration from CargoSmart, PwC, major Hong Kong banks. The connection allows the sharing of documents and data relating to corporate procurement and order management to facilitate trade financing, allowing corporate treasurers to access immediate financing options through their existing ERP systems.

Cryptocurrency exchange Independent Reserve becomes the first firm to receive in-principle approval to operate The new platform will enable banks to securely share information on customers exhibiting significant The breaches involve research report disclosures, telephone recordings, client derivatives knowledge assessments, and structured Regulation Asia. The announcements were made at Hong Kong Fintech Week on Monday 2 November.

trade finance hong kong

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One of the areas where Hong Kong is excelling, and that can bring many opportunities to the whole of the Greater Bay Area, is that of blockchain-based trade finance platforms. Trade finance refers to financial transactions — domestic and international — in which financial institutions provide credit to guarantee an exchange of goods. Trade finance plays a critical role in supporting the real economy since it provides the financial instruments that facilitate cross-border trading.

Applying blockchain technology to trade finance will help to reduce many inefficiencies, since traditional trade finance processes e. There is no doubt that the whole of the Greater Bay Area is committed to innovation in general and to blockchain technology as well as to improve commercial ties with the rest of the world; hence the importance of keeping the development of blockchain-based trade finance platforms. The fact that conventional trade finance still works on a paper-based mode of operations can be considered inefficient and cumbersome.

Furthermore, the conventional system of trade financing shows a clear lack of integration. When we talk about lack of integration, we refer to the fact that all parties involved in a trade finance transaction importer, exporter, shipper, insurer, bank, etc. This causes duplication of information and, if there is any error or change to be made, amendments will need to be made by all the parties involved, independently.

China is adopting a tougher stance toward cryptocurrencies and Bitcoin mining, but we must bear in mind that cryptocurrencies are just one of the many applications of blockchain. These last few years, several solutions and consortia have been launched in order to explore the advantages of blockchain in trade finance, also in Hong Kong, giving most of these solutions a worldwide reach. Following the success of the proof of concept, this new blockchain-based platform was developed to replace the paper-based trade finance system.

Through this platform, customers and their trading partners can conduct trades and trade financing through sharing of information in an effective and cost-efficient way.

trade finance hong kong

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Hong Kong’s economic potential at the national level has again won recognition under the 14th Five-Year Plan for National Economic and Social Development and the Long-Range Objectives Through the Year Hong Kong’s future is not so much about remaining the gateway to the mainland but mostly about enhancing its status as one of the world’s most important financial centers by adopting the very economic initiatives that are relevant to the development blueprint for the Guangdong-Hong Kong-Macao Greater Bay Area.

One of the areas where Hong Kong is excelling, and that can bring many opportunities to the whole of the Greater Bay Area, is that of blockchain-based trade finance platforms. Trade finance refers to financial transactions — domestic and international — in which financial institutions provide credit to guarantee an exchange of goods.

Trade finance plays a critical role in supporting the real economy since it provides the financial instruments that facilitate cross-border trading. As per the statistics provided by the World Trade Organization in its report Trade finance and SMEs: Bridging the gaps in provision, around 80 percent of global trade is supported by some sort of financing or credit insurance, even though „a lack of trade finance is a significant non-tariff barrier to trade, particularly but not exclusively in developing countries“.

Applying blockchain technology to trade finance will help to reduce many inefficiencies, since traditional trade finance processes e. The fact that conventional trade finance still works on a paper-based mode of operations can be considered inefficient and cumbersome. Furthermore, the conventional system of trade financing shows a clear lack of integration.

When we talk about lack of integration, we refer to the fact that all parties involved in a trade finance transaction importer, exporter, shipper, insurer, bank, etc.

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Today the Hong Kong Monetary Authority HKMA announced the official launch of its blockchain trade finance platform eTradeConnect. It was previously known as the Hong Kong Trade Finance Platform. There are also plans to collaborate with we. The platform involves digitizing trade documents to automate the trade finance process.

The benefits expected are greater efficiency and reduced risk from the prevention of fraud and identity theft. Ultimately the aim is to facilitate trade by increasing credit availability and lowering financing costs. The initial version offers open account trade finance like factoring. But the aim is to expand to other forms of trade finance and beyond banking.

It demonstrates the willingness of the financial industry to adopt new technology in the new era of smart banking. It follows a proof of concept PoC started in December and completed in March last year. The original seven banks are ANZ, Bank of China Hong Kong , Bank of East Asia, DBS Bank Hong Kong , Hang Seng Bank, HSBC and Standard Chartered.

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We have helped thousands of importers and exporters access to financial services globally. Likewise, we provided investors with access to the alternative class of trade finance asset. On one side of the trade, we have Importers and Exporters looking for financial solutions deemed impossible for small entities. For example, traditional financiers do not cover innovative products like e-commerce financing.

On the other side, we have Investors holding excess liquidity and are keen to access this under-served market. Velotrade is taking an essential step towards Financing Tomorrow by matching two fundamental needs while providing more effective trade finance across global markets. At Velotrade, we believe that providing transparent and streamlined information to investors is the key to inject liquidity in this market space.

We believe that establishing a marketplace for a new alternative asset class requires significant credibility on the part of any business. The value of regulation cannot be over-estimated in helping to firmly establish a relatively new investment sector such as Trade Finance. Velotrade is the only Trade Finance Platform to be regulated by the Securities and Futures Commissions of Hong Kong.

Started his career in the Equity Derivatives desk at Dresdner Kleinwort in London. In , Gianluca moved to Singapore where he founded and managed his proprietary trading company, engaging in high-frequency equity and currency derivatives. Involved in Velotrade in Hong Kong since Worked at JP Morgan and Dresdner Kleinwort Wasserstein in London as an Equity Derivatives trader.

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In order to move trade finance into the digital era, the HKMA, in collaboration with several local banks, completed a Proof-of-Concept PoC work on trade finance in March Riding on the success of the PoC work, seven banks in Hong Kong decided to commercialise the prototype into production with a view to digitising paper-based documents and automating the trade finance process to reduce errors and risks of fraud. Under the facilitation of the HKMA, eTradeConnect, a blockchain-based trade finance platform fully funded by a consortium of major banks in Hong Kong, was officially launched in October The HKMA signed and exchanged a Memorandum of Understanding MoU with the Monetary Authority of Singapore in November to jointly develop the Global Trade Connectivity Network GTCN , a DLT-based cross-border open trade finance network between eTradeConnect and the Singapore Networked Trade Platform, to make cross-border trade and trade financing safer, more efficient and cost-effective.

The GTCN is built on an open architecture so that other jurisdictions may join easily. In October , an MoU was also signed between eTradeConnect and we. More information is available on the HKICL website Chinese version. Skip to main content. Trade Finance. Related Information.

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Welcome to Hong Kong Factoring We bring a whole suite of flexible state-of-the-art and professional grade trade finance solutions that include invoice and accounts receivable financing, import and export factoring, PO funding and supply chain finance. Our program features include: Non-Recourse Export Factoring (we assume the risk). The only trade finance platform regulated by the Securities and Futures Commission of Hong Kong Partnership MUFG Bank and Velotrade partnered for the enhancement of digital trade services.

TFG, today announced a media partnership with the International Trade and Forfaiting Association ITFA , for the 47th Annual International Trade and Forfaiting Conference. The International Chamber of Commerce ICC Banking Commission recently announced a single Steering Committee for its work on trade, supply chain and export finance, comprising one Chair and 12 Vice-Chairs.

Trending Now. TFG Weekly Trade Briefing, 2nd August ICC Banking Commission announces new committee in a major management reshuffle. TFG Weekly Trade Briefing, 26th July IASB demands more disclosure on Supply Chain Finance. Is the future of humans in freight forwarding dead? TFG Weekly Trade Briefing, 19th July TFG Weekly Trade Briefing, 12th July

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