People's Bank of China Electronic Commercial bill of Exchange system completed operation

People's Daily Beijing November 2, November 2, the People's Bank of China held electronic commercial bills system to run a press conference. Su Ning, deputy governor of PBC, attended and spoke.　　The press conference was attended by 11 national banks, 2 local commercial banks, 3 rural financial institutions and 4 finance companies. Su Ning said that the People's Bank of China Electronic Commercial bill of Exchange system was completed and run, is a large real-time payment system, small volume payment system, national cheque imaging system, domestic foreign currency payment system, the People's Bank of China's construction and operation of another important cross-border payment and liquidation system, is China's financial information,　　Another important milestone in the process of electronic, marking the entry of China's commercial paper business into the era of electronic, will be the future development of China's bill business has far-reaching impact. Su Ning pointed out that in recent years, the People's Bank of China has conscientiously studied and implemented the important thought of "three representatives" and the scientific concept of development, effectively improved financial services, and vigorously promoted the construction of financial infrastructure with commercial banks and other relevant parties, and achieved remarkable results. All kinds of trans-bank payment and clearing systems have been put into operation, and the capital expressway between financial institutions and financial markets has been constructed, which has played an effective role in supporting the establishment of China's safe and efficient financial operation system, which has greatly facilitated the production and operation activities of enterprises and the daily life of the people. With the continuous completion of all kinds of payment systems, China's non-cash payment business volume has grown rapidly. 2008, all kinds of payment system to deal with payment business 9.382 billion, the amount of 1131 trillion yuan, is 37.6 times times GDP.　　The ratio of cash to GDP in circulation continued to decline from 14.8% in 2001 to 11.4% in 2008, and cash payments were less than 1% per cent of the total social payments. Suning pointed out that the business bill of exchange in recent years has been a rapid growth situation, to meet the needs of enterprises to pay, short-term financing needs and improve the financial services level of commercial banks, adjust the balance sheet structure, enhance profitability and so on have played a positive role. But at the same time, forgery of bills, illegal handling of bills, the use of instruments inside and outside collusion to defraud bank funds and other cases have occurred; single bills, the development of bills business is not balanced, the bill market participation in the main body, the unified Bill market has not yet formed problems, restricting the sound development of the Suning said that the Electronic Business Bill system and electronic commercial drafts of the main innovation has five aspects: one is to comprehensively innovate the operation mode of commercial bill of exchange, take the data message instead of the paper voucher, and replace the entity signature with electronic signature, so that the bill business can be changed from manual and traditional operation mode to realize its issue through computer network technology. The modernized operation mode of circulation and settlement;As a direct participant in the bill market, it expands the participation of the bill market, enhances the enthusiasm of the financial company to participate in the construction of the bill Market, provides the business service of the electronic commercial bill of exchange, helps to reduce the financial cost of the Enterprise group, enhances the overall competitiveness, and flourishes the bills market. Third, the maximum payment period for electronic commercial bills of exchange is set at 1 years, it is of great significance to attract enterprises to choose electronic commercial drafts as payment and financing tools, to encourage the financial institutions to develop the instrument business in depth, to promote the formation of the interest rate of the negotiable instruments in the one-year period, and to increase the variety of the negotiable instruments market. Four is clear discount, The concept of discount and discount and the mode of operation of redemption, the risk of bill transaction is greatly reduced; Five is in the bill financing transaction and the Bill settlement business, introduced the ticket to deal with (DVP) way, through the electronic commercial bill of Exchange system and the large payment system real-time connection, in the bill right realization simultaneously realizes the capital delivery,　　Eliminate the possible credit risk and liquidity risk in the bill transaction. Su Ning stressed that the People's Bank of China Electronic Commercial bill of Exchange system has great significance and influence. First, can greatly reduce and even eliminate the operational risk of paper bills business. The electronic commercial bill of Exchange unifies the internal system of the financial institution and the electronic commercial bill of Exchange System Interface specification, unified use of reliable electronic signature, the various types of bills Act of Business Management standardization, completely eliminate false and cloned tickets, greatly reduce the risk of the operation of bills, the second is to reduce the bill transaction costs, improve transaction efficiency, To promote the formation of the National Unified Bill Market; third, the electronic commercial bill system records the enterprise pays the credit, is advantageous to the enterprise credit establishment, impels the commercial acceptance bill the development, the negotiable instrument market scale will increase; four is to widen the enterprise financing channel, helps to alleviate the SME financing difficulty. The electronic commercial bill of exchange prolonged the enterprise through the use of bills to obtain financing time, can better adapt to different types of enterprise production and operation cycle, improve financing flexibility; the implementation of electronic commercial bill of exchange is advantageous to promote the short-term capital interest rate marketization, is advantageous to the negotiable instrument business accurate statistics, provides the accurate basis Six is a profound impact on the financial institutions bills business management system. The establishment of the electronic commercial bill of Exchange system provides the basic platform and technical means for the financial institution to unify the management of the Bill business.　　The bill business of financial institutions will transform to information centralization, resource concentration, operation concentration, operation concentration and more specialized management management system, which is beneficial to financial institutions to provide more abundant bills service products, and to derive more value-added services of electronic banks. (Responsible editor: Zhunghong)