What is the intention behind CSIC's pioneering pawnshop?

2017-07-20 09:00

China Shipbuilding Industry Corporation Pawnshop Co., Ltd. recently officially settled in the Tianjin Binhai New Area Central Business District.

It is understood that on June 23 this year, China Shipbuilding Industry Corporation Pawnshop Co., Ltd. (hereinafter referred to as "CSIC Pawnshop") obtained its business license in the Tianjin Binhai New Area Central Business District.

CSIC Pawnshop has a registered capital of RMB 200 million, with CSIC Capital Holdings (Tianjin) Co., Ltd. and China Shipbuilding Industry Corporation Investment Co., Ltd. each contributing RMB 100 million in cash, each accounting for 50% of the shares, and operating from the Xiangluowan CSIC Building.

It is understood that after the establishment of CSIC Pawnshop, small and micro enterprises can make full use of the flexible operation mode, fast financing speed, and simple procedures of pawnshops to obtain financing through the mortgage/pledge of movable property, immovable property, property rights, bills, etc., thereby solving the financing difficulties of small and micro enterprises, supporting the healthy development of small and micro enterprises, and playing an important role in promoting economic growth and increasing employment. The mortgage/pledge short-term financing needs of the group's member enterprises and upstream and downstream enterprises have laid the foundation for the business expansion of CSIC Pawnshop after its establishment, and its risks are relatively small, which can ensure the steady development of the pawnshop business.

CSIC Investment's establishment of CSIC Pawnshop is in line with national industrial economic policies and plans, can provide financial support for small and medium-sized enterprises, is conducive to invigorating local finance, promoting the implementation of the "Beijing-Tianjin-Hebei Coordinated Development" strategy, and will surely become a new profit growth point for CSIC Investment.

It is understood that on October 12 last year, Hu Wenming, Chairman of CSIC, and Sun Bo, General Manager, met with Li Hongzhong, Secretary of the Tianjin Municipal Committee, in Tianjin, and jointly attended the signing ceremony of the comprehensive cooperation agreement between CSIC and the Tianjin Binhai New Area People's Government.

According to the agreement, CSIC will jointly build the group's financial capital headquarters with the Binhai New Area, and establish several companies in the central business district and Dongjiang bonded port area under the Binhai New Area, including CSIC Capital Holdings (Tianjin) Co., Ltd., China Shipbuilding Industry Corporation Pawnshop Co., Ltd., China Shipbuilding Industry Corporation Commercial Factoring Co., Ltd., and China Shipbuilding Industry Corporation Financial Leasing Co., Ltd., to conduct factoring, leasing and other related businesses.

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