d of small and micro enterprise supply chain business model, and actively constructs a supply chain financial service system combining online and offline. Recently, ICBC successfully issued the first digital credit credential financing through innovative multi-level supplier factoring products to provide online factoring financing for small and micro enterprises
at the end of the industrial chain. In the first two months of this year, ICBC has issued more than 45.1 billion yuan of online supply chain financing to 2311 upstream and downstream customers, of which small and Micro
customers account for nearly 45%. According to the relevant person in charge of ICBC, for a long time, due to the lack of effective transaction flow and capital flow control means, banks are limited to providing factoring financing for primary suppliers of core enterprises, while core enterprises want banks to provide financing for small and micro enterprises at the end of the industrial chain. Due to the structural contradiction of supply chain financing, the joint force of developing supply chain between banks and enterprises has not been formed. In order to solve this problem, ICBC, in combination with core enterprises and the third-party supply chain
financial service platform, integrates the procurement capital flow and trade flow between core enterprises and suppliers at all levels into the blockchain alliance platform by using the blockchain technology. Any supplier in the supply chain who holds the receivable digital credentials can apply for financing to ICBC online and apply for instructions via ICBC smart letter. After the loan platform, the loan can reach the enterprise account in an instant, which effectively alleviates the capital pressure of the weak enterprises at the end of the industrial chain.