Tang Maoheng: Fully support the sustainable development of the automobile and tire industry

At the 2012 Automotive and Tire Industry Summit Forum and Global Business Summit, Tang Maoheng, Chief Product Manager of the Bank of China, stated that this year, the Bank of China will increase its support services to automobile and tire companies and provide enterprises with comprehensive financial services. Cross-border financial advantages, support for qualified companies to go out; at the same time support enterprises to continue to promote technological upgrading and industrial upgrading, enhance core competitiveness.

Tang Maoheng said that in recent years, Bank of China has established a strategic cooperative relationship with Delta Group, a leading company in the domestic tire manufacturing industry, and has carried out extensive cooperation in various fields to achieve a win-win development. In particular, the giant radial tire production technology and equipment development project supported by the Bank of China in the high-performance project radial tire project won the first prize for national science and technology progress. This further shows that Delta Group has strong product development capabilities, high brand awareness, and strong overall strength.

Tang Maoheng believes that at present, the global financial crisis and the European debt crisis continue to spread, the domestic economic growth slows down, and the development of the automobile and tire industries is entering a new period of transition and adjustment. First, the country is studying and formulating new technical standards for the tire industry. Second, the domestic tire and automotive market is shifting to the high end, and the market for high-performance products is vast. Third, the automobile and tire industry has accelerated the transfer to emerging economies including China, which has led to the restructuring of the global automotive and tire industries. This inevitably brings serious challenges, but at the same time there are more opportunities for development.

According to Tang Maoheng, the Bank of China will focus on the following areas and increase its support services for automobile and tire companies.

First, provide comprehensive financial services to support the sustained and healthy development of the industry.

Bank of China will pay close attention to changes in national industrial policies, strengthen research on changes in the domestic and international automotive and tire industries, grasp the pulse of industry development, clarify risks and opportunities, actively provide financial support for high-quality enterprises in the industry, and provide a wealth of product portfolio services. To meet the diversified financial needs such as corporate listing, project financing, supply chain financing, and financial wealth management, to better expand the market and achieve sustained and healthy development.

Second, we must take advantage of cross-border financial advantages and support qualified companies to go global.

High-quality large-scale automobile and tire companies actively adjust the market structure and product structure, integrate with the international market, and accelerate the development of going global. It is an inevitable choice to actively respond to global competition, enhance comprehensive strength, and build a world-class enterprise. With a large number of overseas institutions, BOC has strong follow-up service capabilities and can leverage on its diversified operating advantages. It provides a series of services for global companies such as financing arrangements, global fund transfers, cash management, consulting, foreign exchange transactions, leveraged buyouts, and insurance. Overseas M&A, overseas investment and international development strategy.

Third, support enterprises in continuing to promote technological upgrading and industrial upgrading and enhance their core competitiveness.

In order to strengthen basic research and applied research for auto and tire companies, and promote the capital demand arising from industrial technology upgrades and industrial upgrading, the Bank of China will increase its efforts to provide comprehensive support for corporate technological transformation, product research and development and other projects, and promote enterprises to improve products. Performance and brand value. It will focus on supporting tire companies in strengthening their strategic cooperation with leading domestic automakers, strengthening the research and development of advanced products such as high-performance radial tires, and accelerating industrial restructuring.

Fourth, support the construction of green industrial parks and foster green brands.

Low carbon, green, energy saving, and environmental protection are the directions for the sustainable development of the tire industry. Bank of China will use project loans, working capital loans, trade financing, cross-border financing and other methods to raise low-cost funds through multiple channels to support the construction of environmental protection industrial parks and the construction of tire renewal bases to form green brands and build world-class industrial parks.