The program is a merger between internet finance and supply chain finance, with a 100 million yuan credit plan to benefit businesses utilizing DHgate.coms internet finance portal DHfinet. Hui Kuan Bao will allow DHfinet users to reduce their capital turnover period from 2 to 40 days.
DHfinet provides short term financing to Dhgate.com users by utilizing big data to assess risk. With the addition of Hui Kuan Bao, users will receive their funds just 2 days after shipping the goods they are financing, the program also allows users to apply for and repay all loans online, through an automated process, in order to promote efficiency for enterprises and banks. Hui Kuan Bao also allows users to pay their loans back in Chinese Yuan or American Dollars.
Forum estimates that the total unmet global demand for credit by SMEs in 2016 is USD 3 trillion, with an astounding 200 million SMEs that lack access to credit.
Founded in 2004, DHgate.com has approximately 10 million global buyers from 230 countries and regions, with 1.4 million global sellers offering 40 million products. DHgate.com is an all-in-one platform with integrated services for international logistics, cross-border payments, internet financing.
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