Self-financing for internal insurance means that the bank, as a guarantee bank, issues a financing guarantee or standby letter of credit (hereinafter referred to as guarantee) in favor of Shanghai Free Trade Zone Bank according to the application of domestic customers, and Shanghai Free Trade Zone Bank provides financing services for overseas or regional registered enterprises with FT accounts in Shanghai Free Trade Zone according to the guarantee.
① Domestic customers apply to our bank to open a letter of guarantee; Our bank accepts, investigates, reviews (including credit review and legal review) and audits; ② The bank issues a letter of guarantee to the Shanghai Free Trade Zone Bank; ③ Shanghai FTZ Bank provides guarantee financing for overseas /FTZ customers; ④ On the maturity date of wealth management, overseas /FTZ customers will return wealth management funds from overseas banks. If domestic and foreign customers fail to repay the loan on schedule or perform the contract normally, the bank will guarantee to perform the contract.
Provide financing convenience for "going out" enterprises and reduce financing costs. Overseas/regional enterprises can use the credit standing of group companies to obtain loan funds directly from Shanghai Free Trade Zone Bank. Banks in Shanghai Free Trade Zone can make use of "two markets and two resources" at home and abroad at the same time to obtain more competitive capital costs and provide more favorable financing prices. Compared with domestic insurance and foreign loan, domestic insurance and self-loan have low communication cost and convenient financing.