On October 2, Jiangsu Joc Chemical Storage successfully finished the first digital warehouse receipt pledge financing bill with 66 Yunlian and Hua Xia Bank. The customer acquired the credit amount of CNY 50 million on the first day and received the bank loan of CNY 9 million whitin only 4 hours after the issuance. As a key breakthrough of Jiangsu Joc Chemical Storage in the sector of “digital warehouse”, the company may offer new added value services to customers with supply-chain finance.

Jiangsu Joc Chemical Storage always follows the customer-oriented principle and combines business development and customer demands. The business team actively explore the market and visit more than 10 companies, aiming to find out opportunities in every service section, facilitate the circulation, and eventually establish the modern logistic system. With the support of Canghaibang Block Chain Digital Warehouse Receipt Platform of 66 Yunlian and Hua Xia Bank Industrial Convergence Platform, the company promotes digital warehouse receipt pledge financing service, which solves the capital bottleneck in cargo preparation of chemical supply chain and fasten the cargo circulation of customers.  

Issuance of Digital Warehouse Receipt

The customer company apply for the digital warehouse receipt on Canghaibang Block Chain Digital Warehouse Receipt Platform of 66 Yunlian, and the receipt is sent to the warehouse of Jiangsu Joc Chemical Storage in real time. Based on the property management platform, Jiangsu Joc Chemical Storage breaks the information barriers and achieves automatic data collection, real-time transfer, cross check, and intelligent tracing. This model answers the questions of property and cargo control that banks focus on. Under the visible, controllable, and reliable digital finance supervision, Jiangsu Joc Chemical Storage issues the digital warehouse receipt. The whole process including credit application, issuance, pledge registration, and loan granting are all completed with close-loop management online.

Warehouse Receipt Pledge Financing

Step 1: Financing companies can initiate digital warehouse receipt pledge financing and complete the verification of loan application through face recognition technology and digital enterprise certification.

Step 2: After receiving the application, Hua Xia Bank will start digital credit approval The loan granting system will comprehensively verify the warehouse receipt and related information through automatically, complete the pledge registration of warehouse receipt, and realize automatic loan granting. In this way, financing companies would not only enjoy low-interest loans, but could also effectively revitalize the inventory and supplement liquidity.

In respond to the report of the 20th Congress of the CPC which requires to fasten the development of digital economy, promote the in-depth integration of digital and real economy, and create digital industrial cluster with international competitiveness, Jiangsu Joc Chemical Storage would deepen the construction of “digital warehouse” and charge towards digital transformation and innovation-driven development based on the advantage as the brand warehouse of a state-owned company. An effective, safe and reliable digital supply chain and service system would rise up to better support the company in serving and integrating into the new development outlook. In this way, Jiangsu Joc Chemical Storage would provide customers with high-quality and customized added value services.