Unlocking the "Four-Chain Integration" Financing Path Chongqing Initiates the Applications for Manufacturing Digital Finance "Open Competition for Leadership"

(New Chongqing - Chongqing Daily reporter Xia Yuan) Chongqing is actively taking action to promote the integration of the "industrial brain" and the "financial brain", and strengthen the convergence of the innovation chain, industrial chain, capital chain, and talent chain. On March 12, the Chongqing Economic and Information Commission announced the initiation of the applications for the second batch of digital financial applications for manufacturing industry and supply chains under the "open competition for leadership" mechanism. A "four chain integrated data loan" product matrix will be established to inject financial vitality into manufacturing enterprises across Chongqing, especially micro, small and medium-sized enterprises (MSMEs).

According to the Chongqing Economic and Information Commission, the core breakthrough of this initiative lies in creating a new "four no" digital financing model: no need for confirmation by core enterprises, no occupation of core enterprises' credit lines, no mandatory connection to core enterprise systems, and no additional risk burden on core enterprises. The program will select a group of enterprises with advanced technological capabilities and sound operations to jointly build data driven credit enhancement models, enrich the data dimensions of the industrial brain, and optimize supply chain mapping. Participating enterprises are required to have established or to be in the process of developing digital financial applications, with plans to onboard no fewer than five core enterprises annually and connect at least 100 manufacturing enterprises to the platform each year, aiming to facilitate more than RMB 1 billion in annual supply chain financing.

"This innovation will reduce the traditional reliance of supply chain finance on core enterprises and create new financing channels for small and micro enterprises without strong credit endorsements," said a representative from the Chongqing Economic and Information Commission. With technologies such as blockchain, big data, artificial intelligence, and privacy computing, financial institutions can integrate multi-dimensional data across the supply chain, including transactions, logistics, and bills, achieving data visibility, usability, controllability, and security. At the same time, an intelligent risk early warning system will be established to monitor supply chain dynamics in real time, ensuring compliant and stable financial services.

At present, Chongqing has already seen a number of successful cases where digital finance has precisely supported enterprises and revitalized their operations. For example, relying on the city's "automotive industrial brain", a precision parts supplier within the supply chain of a leading automaker was able to secure financing from a banking institution through a "zero-document, seconds-level approval" process. In the equipment manufacturing sector, a machining MSME that had previously struggled to secure financing due to a lack of collateral gained access to a local supply chain financing service platform. By uploading and certifying its equipment IoT operation data, processing work orders, and quality inspection reports as "digital assets", the enterprise was quickly matched with low-interest credit loan opportunities.

Source: Chongqing Daily