A Study on the Bank Payment Obligation in China-with Special Reference to Case Analysis
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Bank Payment Obligation (BPO) is a new type of trade settlement financing tool developed by the International Chamber of Commerce and the Society For Worldwide Interbank Financial Telecommunication (SWIFT). It is an independent, irrevocable commitment of immediate or deferred payment made by the paying bank to the receiving bank. As a new settlement method, BPO integrates the convenience of credit sales, the security of letters of credit and the convenience of financing, and the specialization of supply chain services. It is expected to bring a thorough data transformation to international trade settlement. Chinese commercial banks shall also adapt to the electronic transformation of trade finance, learn and study BPO, provide customers with diversified settlement methods in the increasingly fierce competition in the same industry, and improve their financial service capabilities. First, this paper explains the background of the rise of BPO and the purpose and significance of the research. Then it studies the development and advantages of BPO in China, and the risks and obstacles of BPO development in China in combination with relevant laws, regulations and practices. Finally, through the analyzes of the BPO cases in China, this paper studies the reasons for the slow development of China’s BPO and the way how to promote the use of BPO, and discusses the reference significance of BPO promotion in China.
Abstract
Bank Payment Obligation (BPO) is a new type of trade settlement financing tool developed by the International Chamber of Commerce and the Society For Worldwide Interbank Financial Telecommunication (SWIFT). It is an independent, irrevocable commitment of immediate or deferred payment made by the paying bank to the receiving bank. As a new settlement method, BPO integrates the convenience of credit sales, the security of letters of credit and the convenience of financing, and the specialization of supply chain services. It is expected to bring a thorough data transformation to international trade settlement. Chinese commercial banks shall also adapt to the electronic transformation of trade finance, learn and study BPO, provide customers with diversified settlement methods in the increasingly fierce competition in the same industry, and improve their financial service capabilities. First, this paper explains the background of the rise of BPO and the purpose and significance of the research. Then it studies the development and advantages of BPO in China, and the risks and obstacles of BPO development in China in combination with relevant laws, regulations and practices. Finally, through the analyzes of the BPO cases in China, this paper studies the reasons for the slow development of China’s BPO and the way how to promote the use of BPO, and discusses the reference significance of BPO promotion in China.
참고문헌 (16)
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