China Financial Information Network (reported by Chen Zhouyang) - On September 13th, the Jiangxi Ganjiang New Area Green Finance Development Conference and Summit Forum was held in Nanchang. During the conference, Yao Huawei, Chairman of Jiangxi Financial Assets Depository and Clearing Center, the first company in China to provide self-owned account settlement for enterprises, gave an interview to China Financial Information Network. He stated that Jiangxi Financial Registration and Settlement Center will innovate in technology and application, and under the premise of safety and compliance, provide supplementation and promotion for existing financial institutions, contributing to the development of green finance in Jiangxi.
Yao Huawei, Chairman of Jiangxi Financial Assets Depository and Clearing Center, gave an interview to China Financial Information Network.
Photo by Zhan Weiqi, China Financial Information Network
Innovation: Building an Inter-Enterprise Cross-Bank Settlement Information Management Platform to Support the Development of Jiangxi’s Real Economy
Host:As a financial innovation enterprise that has recently established itself in Jiangxi, what are the main businesses and development directions of Jiangxi Financial Assets Depository and Clearing Center?
Yao Huawei:People are certainly curious about what Jiangxi Financial Assets Depository and Clearing Center primarily does and how it does it. Let me explain our business and future development direction.
When people see the word “settlement,” they first think of China UnionPay or the PBOC clearing center—so why would a corporate entity be doing this? China UnionPay and the PBOC clearing center handle inter‑bank settlement, but inter‑enterprise settlement has never been comprehensively addressed by any institution.
In traditional enterprise settlement, a group company can only manage its own internal accounts and connect to no more than 20 national banks nationwide. Through direct bank-enterprise linkage, it cannot connect to enterprises outside the group and can only manage its own accounts according to instructions provided by the banks. As a result, group companies are unable to obtain real-time account information or perform fund supervision on over 70% of their own accounts, creating certain safety risks for the group’s financial stability.
To solve this problem, we first rely on technological innovation—using enterprise‑centric settlement innovation, the Internet, big data, artificial intelligence, blockchain, and so on—to fundamentally restructure traditional settlement and break down the natural barriers between banks that exist in cross‑bank settlement.
The basic business of the settlement platform built by Jiangxi Financial Assets Depository and Clearing Center will be to create an inter‑enterprise cross‑bank settlement information management platform. It will directly connect to major commercial banks nationwide and will also handle services such as entrusted account supervision, designated payments, and the sending of agreements and instructions to banks. Our goal is to provide diversified comprehensive financial services for financial regulators, small and medium‑sized enterprises, and financial peer institutions, thereby improving the financial ecosystem, enhancing the agglomeration of financial resources, and elevating the regional status of the financial industry.
Second, in terms of application innovation, Jiangxi Financial Assets Depository and Clearing Center effectively integrates core account supervision, capital services, and industry development for group enterprises—both among internal legal entities and between upstream and downstream enterprises in the group’s ecosystem. This strongly promotes the healthy development of the real economy.
Beneficial Impacts: Optimizing Enterprise Financial Settlement Costs and Promoting Synergy in the Financial Sector
Host:What beneficial impacts can Jiangxi Financial Assets Depository and Clearing Center bring to Jiangxi’s financial ecosystem?
Yao Huawei:Specifically, our business delivers benefits to enterprises and financial institutions in four areas:
First, it optimizes the cost of financial settlement for enterprises. Using cross‑bank financial settlement, it addresses problems such as complex management hierarchies, difficulty in fund monitoring, untimely account information, and cumbersome settlement management. It also resolves the connection issues in settlement between entities within a group and between the group and external enterprises, fully tapping into supply‑chain finance.
Second, it fosters new‑type financial services, credit investigation, and credit rating. Through a new‑type financial service ecosystem, it integrates enterprises’ cash flows and operating information into a supply‑chain system centered on large group enterprises, thereby enhancing the credit certification system for small and medium‑sized enterprises. At the same time, comprehensive credit investigation and rating services based on settlement and transaction data improve the efficiency of investment and financing for SMEs.
Third, it promotes industry finance and industrial agglomeration for large groups. By building an industrial financial ecosystem platform centered on large group enterprises, it efficiently aggregates group financial resources and extends financial services to the supply chain. It revitalizes group funds and supports the improvement of industrial development levels through financial services.
Fourth, it promotes coordination among financial institutions and inter‑institutional cooperation. Through innovative financial products and technical services, it facilitates cooperation between enterprises and financial institutions, serving as a channel to help both sides expand their business.
Vision: Building a High‑Speed Information Bridge Between Financial Innovation and Real Economy Development
Host:What specific plans and ideas do you have for supporting the development of green finance in Jiangxi?
As the first company in China to provide enterprise‑owned account settlement services, Jiangxi Financial Assets Depository and Clearing Center innovates in technology and application. Under the premise of security and compliance, it complements and drives existing financial institutions, contributing to the development of green finance in Jiangxi.
When group enterprises open transaction accounts with banks operating in Jiangxi, funds flow through those accounts. The cash flow generated during the transaction and concentration of funds remains in Jiangxi, making Jiangxi an excellent fund back‑office. In addition, the data generated during transactions will provide banks and financial institutions with comprehensive data‑based credit services. With such data, enterprises will find it easier to obtain financial support from financial institutions. By addressing both funding and credit, we truly advance the development of green financial industrialization.
Through multi‑level innovation, Jiangxi Financial Assets Depository and Clearing Center lays the foundation for real‑economy development and builds a bridge between financial innovation and the real economy. We hope that with strong support and care from the government, Jiangxi Financial Assets Depository and Clearing Center can play an active role in promoting the environmental benefits and sustainable development of Jiangxi’s green finance.
