World Bank appraise China’s global financial access

World Bank Chief Jim Yong Kim attends a press conference during the spring meetings of the IMF and the World Bank in Washington DC, April 19, 2018.

China has in recent year gone a long way in terms of financial accessibility. Take trade for example, importers can now apply to Chinese factoring company for financial assistance for their trade in China.

World Bank Chief Jim Yong Kim said on Thursday that he expected the progress and innovation in improving financial access across China will also happen in other countries, so that financial services become universally accessible.

Nearly one-third of the world's adult population still doesn't have access to financial services, according to the World Bank's Global Findex data, which tracks how people use financial services and was released on Thursday.

image credit: internet

"China has made great progress, but if you reflect back, the Global Findex showed that we went from the low 60s to about 69 percent of people in the world covered in terms of financial access," Kim said, referring to the finding that 69 percent of adults around the world, or 3.8 billion people, have an account at a bank or mobile money provider, up from 62 percent in 2014.

"So we're looking at the innovations in China and we're trying to ensure that we get from around 70 percent to 100 percent," he told a news conference during the spring meetings of the IMF and World Bank in Washington. In China, 80 percent of people older than 15 have such accounts, and 57 percent of the account owners are using mobile phones or the internet to make purchases or pay bills - roughly twice the share in 2014, according to the Global Findex.

Kim called for ramped-up efforts to help realize the World Bank's goal of achieving universal financial access by 2020.

He said the World Bank has been studying the way that China has approached financial inclusion and has actually participated with China in the past on projects such as creating special branches of banks specifically for women.

In the private sector, groups such as Alibaba and Tencent have dramatically increased access to capital, markets, even in some cases access to marketing accounting, Kim said, adding that these are the kinds of things small and medium-sized enterprises need to export their products overseas.

Kim noted that there is still a large gender gap in financial inclusion worldwide. According to the Global Findex, 72 percent of men and 65 percent of women have an account, a gap of 7 percentage points.

In China, 84 percent of men older than 15 are account owners, compared with 76 percent of females, a gap of 8 points.

"So we are watching carefully," Kim said. "China is improving financial access very quickly - not only access to financial services, but access to capital, access to markets. We need that to happen in every country in the world."

In the case of Alibaba in China, Kim said it has made access to capital almost instantaneous, so long as the user has a good record online.

"So that's a way of using innovation in an inclusive way," he said, "because they're focused on small and medium enterprises. If we can make that happen in other parts of the world, that'd be great."

For more details on importing from China, please visit www.egtcp.com.

Popular services in global trade:

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Where to find money and start your business?

If you are starting or running a new business recently, what will be better than a start-up capital or financial support? But where to find it? How to use it?

image credit: internet

Here are some examples:

Personal Savings. The truth is most startups are funded with personal savings. Before you make a big withdrawal, however, I recommend that you have at least a year’s worth of fixed living expenses (like your mortgage and insurance needs) set aside.

When you’re starting your own shop, you may have to forgo a salary for a few months, even a year, until you gain traction and income starts flowing.

Friends and family. If you’ll go this route, be clear about the terms and put everything in writing, so no bad blood arises.

Banks. Banks are not always easy to crack when it comes to small business lending. It goes without saying that you’ll need a firm business plan and a squeaky-clean credit record to get approved.

Angel investors and venture capital firms.  Getting financing from them can be a high-wire dance. But if you can do a little soft-shoe and have a great idea and terrific business plan, these types of investors will back you in exchange for equity or partial ownership. 

Economic development programs. There are a range of development loan programs out there, but finding one you can tap might take a little sleuthing and you may need special certification to qualify. For example, if you’re a woman, you might consider getting your firm certified as a woman-owned business. If you’re the principal owner and from a minority group or are located in an economically disadvantaged region, you might qualify for a special loan as well.

Home equity loans. If you have substantial equity built up in your house and a credit score well above 700, this route may be a pretty good option. The funds are usually taken as a lump sum that you can pay off over time. And interest is not sky high, roughly 4.5% right now.

credit unions. It’s a good idea to seek out one that offers credit line for your business. For example, the credit purchasing card - GTCP Card, supported by one of the leading global trade service platform in China, provide global buyers solutions to buy now and pay later. It does make the cash flow.

If you want to go this route, check out eGTCP.com for a list of cards with the lowest rates and best terms.

Popular services in global trade:

Do you need financial service ($100,000) in global trade?

Why not check your partner’s credit score before doing business?

factory inspection/loading monitor/trade assurance

Follow us:

You can also contact eGTCP.com directly via mail (service@egtcp.com) or phone (+86 400-159-8448).

                                                              

Dubai's BIG5 Exhibition Counts Down

Now, Great Tao cordially invited you to visit our booth at the coming BIG 5 2016, Dubai World Trade Center, from Nov.21st to 24th.

The Middle East Dubai exhibition five industries (BIG 5) began in 1980. It is influential in the Middle East and is the largest building, building materials and services for the exhibition.

Today, the rapid development of the market for building in the Middle East, led to construction equipment, materials, construction machinery and vehicle demand, more attracted worldwide attention.

BIG 5 provides a new platform for you to start business!

The 2016 Dubai BIG 5 will be held on 21^st—24^th November in the United Arab Emirates Dubai Word Trade Center, and will continue to come from the world of construction equipment, machinery, construction vehicles and equipment, material suppliers, provides opportunity to chat business with Middle East countries buyers face-to-face, also for the Chinese enterprise provides a new platform to start business.

Embrace Great Tao and you will find surprise!

Concorde and Great Tao will be jointly presented at World Trade Credit e Platform Promotion Week. Both are very well performing and recognized on the Middle East market. This year, eGTCP will exhibit trade credit products particularly designed for Middle East market. Some of our products are on side with special innovative trade credit solution, with surprisingly interactive activities available from time to time. Please join us and be part of it!

Looking forward to seeing you at 2016 eGTCP Promotion Week in Dubai!

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Exclusive: How to gain $100,000 and start business easily in China?

You may wonder how to gain $100,000 and start business in China easily, because you are even unable to speak Chinese and know nothing about goals?

Don't worry, following is an colleague of eGTCP who attended the 2 phase of Canton Fair, she introduced unique financial support to global buyers patiently.  

A foreigner from India enthusiastically walked into Great-Tao’s booth at the Canton Fair, after viewing our company's product and service presentation. He then asked politely whether we really could help him solve the financial problems on his business. We said, yes.

He sat down, putting down his luggage. We attentively asked his company, business and puzzles. The fact was that he is running a company in India now looking for suitable factories in China. Moreover, his business has just started. 

For an ambitious entrepreneur, money is one of the biggest problems that plague him. He can not smooth the flow of his capital chain, because his business is growing bigger. 

Then, our consultant introduced him our GTCP credit card. To the future entrepreneur who has full of ambition about his business and has a very good reputation, we introduced him a few lines of credit card. He listened with all his interest, then register his own business information on our platform, and promised to upload his business license and other business information later. We gave him a $100,000 GTCP credit card. He thanked us and praised us for making great contributions to the global future entrepreneurs.

At the second phase of the Canton Fair, we encountered many global buyers like him. They heard about our service, satisfied with the GTCP creditcard, especially for the word ‘credit’, which the future business world is bound to. Many of them registered their company information on our platform, and got the credit card. We felt happy for their business to find the right escort.

The October in Guangzhou is still hot, temperature at daytime above 30 degrees. Since so many overseas buyers are interested in our platform and service, the hard work pays off.

Focus on:

We, eGTCP, welcome you to applying for GTCP(Great Tao credit purchasing card), you can get $10,000 immediately, buy more, pay later, let's get started!

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"Providing financial support at Canton Fair, we [Gttown] are here at Canton Fair"-Dora Zhu

Here is a colleague from Gttown.com who attended the phase 2 of China Canton Fair.

Let's interview Dora Zhu:

Time flies, and I won a unforgettable experience of this Canton Fair. 

It was my first big task after my graduation, I was so excited and nervous that I couldn’t fell asleep that night before the phase 2 of Canton Fair. 

Busy – my first impression to Canton Fair, except the hot temperature, which made me feel at a loose end. I started to think about all the bad situations but couldn’t summon up courage to talk with others, let alone introduced our company to people.

 I felt upset. Luckily, my colleagues encouraged me a lot. So I didn’t give up. I worked out that the key problem of me is thinking too much. I told myself that when things come to you, just do it without any hesitation. Finally I handle it! I realized that you are always better than you think who you are.

When international buyers are interested in our GTCP(Great Tao Credit Purchasing card), I was here to introduce without hesitation, anyway, our stall was really crowd.  :D

Focus on:

We, eGTCP, welcome you to applying for GTCP(Great Tao credit purchasing card), you can get $10,000 immediately, buy more, pay later, let's get started!

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Bravo: 70 Colorful Containers are Beautifully Shaped for Appreciation

Never miss: International Container Art Exhibition

The "blue impulse" Beilun International Container Art Exhibition was held at the China Port Museum on October 25, where 70 colorful containers were beautifully shaped for appreciation.

The photos show painted containers in Ningbo City, east China's Zhejiang Province. 

And the container arts exhibition is open to the public today.

Be registered: Electronic Global Trade Credit Platform

In Ningbo, there is not only a container arts exhibition but also a company which has an Electronic Global Trade Credit Platform:

International buyers can get many benefits from GTCP Card and GTCA Program of eGTCP (Electronic Global Trade Credit Platform) .

International buyers are granted with the credit line within 90-120 days payment terms after GTR assessment and place orders towards intended suppliers with the credit line. So, international buyers could improve their purchasing capabilities, promoting the usage rate of capital and will also win larger Chinese markets.

And GTCA (Great Tao Credit Assurance Program), based on the credit, intends to assist the trading parties in providing a level of trust and resolving risk issues in trades. This program also aims at providing credit endorsement for international buyers on behalf of Chinese international trade companies, and offering an all-round transaction assurance to trading parties for fast order confirmation.

Focus on:

We, eGTCP, welcome you to applying for GTCP(Great Tao credit purchasing card), you can get $10,000 immediately, buy more, pay later, let's get started!

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