Bank of China to link Chinese firms, SMEs

THE Bank of China, Ltd. (BoC), one of the big-four Chinese state banks, will pair Chinese firms with local small, and mediumsized enterprises (SMEs) next year through “matchmaking” events, with a participation target of 1,000 Filipino firms by September 2017.

Wang Jian, general manager of the SME services department of the BoC head office, told reporters yesterday that up to 100 Chinese companies will participate in a matchmaking conference with around 500 Philippine companies in March.

“The March conference will invite around 400 to 500. But in September, I hope about 1,000,” he said in the sidelines of a business forum in Makati City.

Mr. Wang said BoC will screen the participants who wish the join the event, noting that the Chinese side “wants to be selective.”

Interested Philippine SMEs would have to meet a certain revenue threshold as well as at least three years of business operation, he said, without elaborating.

The matchmaking process will feature establishing a database for enterprises, customer matching, remote online matchmaking, oneto-one or one-to-more meetings, onsite survey and all-round banking services to be provided by BoC.

Under the program, known as the “BoC Global SME Crossborder Matchmaking Service,” BoC is collaborating with the International Chamber of Commerce (ICC) Philippines, Philippine Chamber of Commerce and Industry (PCCI), and the Department of Trade and Industry.

Jesus B. Varela, director-general of ICC Philippines, said that BoC will likely be interested to work with SMEs engaged in agriculture, technology, renewable energy, fisheries, and furniture.

“When you talk about agribusiness, definitely the ones to benefit first are the areas of Visayas and Mindanao. When you look at furniture, the one that is strong in furniture is Cebu and Mandaue. If you look at some fisheries, it’s also in Mindanao and some parts of the North.

“It’s also the reason why we are starting to bring our information dissemination among our members because PCCI is mostly composed of SMEs.”

In October, a cooperation agreement that essentially called for the organization of the matchmaking conferences was signed by ICC Philippines, DTI, and BoC. This was witnessed by President Rodrigo R. Duterte and BoC Chairman Tian Guoli.

The Philippine delegation to China brought home a total of $24 billion worth of investment pledges and soft loans. —