Chinese cross-border e-commerce marketplace DHgate.com and Ping An Bank announce their program 'Hui Kuan Bao,' a merger between internet finance and supply chain finance, with a 100 million yuan credit plan to benefit businesses utilizing DHgate.com's 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.
