There are 15 days before the opening of the Winter Olympic Games. All preparations are ready, and the financial services for the Winter Olympic Games are ready. What help can banks provide for the Winter Olympic Games in this grand event attracting the attention of the whole people? On January 20, Li Mingxiao, Secretary of the Party committee and director of the Beijing Banking and Insurance Regulatory Bureau, and Liu Jinyi, deputy secretary of the Party committee, vice chairman and President of Bank Of China Limited(601988) made an answer at the press conference of “banking and insurance industry fully serving the Beijing Winter Olympic Games and winter Paralympic Games” held by the China Banking and Insurance Regulatory Commission.
78 billion yuan to support infrastructure construction
“At present, the overall financing scale of Bank Of Beijing Co.Ltd(601169) industry supporting the construction of Winter Olympic venues and supporting infrastructure exceeds 78 billion yuan, 34.07 billion yuan has been actually invested, and the balance of various financing is 24.211 billion yuan.” Li Mingxiao pointed out at the press conference that the financing balance supporting the construction of Winter Olympic venues and supporting infrastructure was 2.963 billion yuan and 20.564 billion yuan respectively, and the financing balance supporting Winter Olympic ice and snow industry projects was 684 million yuan. All the 8 competition venues and 16 non competition venues that support the new construction and transformation have been delivered to the Winter Olympic Organizing Committee, and all 31 supporting infrastructure have been put into use.
Ensuring credit support and accurately connecting the financing needs of infrastructure construction are important measures for the bank to help the Winter Olympic ice and snow events. In terms of specific credit financing services, Li Mingxiao introduced that Bank Of China Limited(601988) Beijing Branch led six banks to form a syndicate to prepare a syndicated loan of 2.578 billion yuan for Yanqing competition district government and social capital cooperation (PPP) project. It is understood that the project is the only Winter Olympic Games planning project in Yanqing competition area for market-oriented financing. Its financing scheme covers the full cycle needs of the Winter Olympic Village, Mountain News Center and supporting facilities during the construction period, Olympic service period and post competition operation period, and provides comprehensive financing schemes including project loans, reconstruction loans, etc.
In addition to providing credit support on the eve of the event, it is also particularly important to ensure that participants can enjoy convenient deposit and withdrawal and other financial services during the Winter Olympics. It is understood that in the construction of game time outlets, at present, Beijing Banking and Insurance Regulatory Bureau has approved four Winter Olympic bank outlets to achieve full coverage of bank outlets in the core guarantee area and personnel gathering area. Taking Bank Of China Limited(601988) as an example, Liu Jin said that the bank has set up five temporary outlets and four off-line self-service equipment areas in the Winter Olympic Village, main news center, Zhangjiakou media and broadcasting center in the three competition areas of Beijing, Yanqing and Zhangjiakou, providing 28 kinds of foreign currency cash services, 24-hour self-service banking services and self-service foreign currency exchange services. In addition, in order to facilitate communication with foreigners, Bank Of China Limited(601988) is also equipped with a service team of more than 200 people, who can conduct on-site communication and service in nine languages such as English, French and German.
digital RMB Hard Wallet “debut”
Since 2020, digital RMB has been piloted in various provinces and cities. As one of the pilot scenarios, digital RMB will also “appear” during the Winter Olympic Games. Li Mingxiao said that the Beijing Banking and Insurance Regulatory Bureau has guided banking institutions to promote the deep integration of digital RMB and Winter Olympic characteristic scenes, and enriched the use channels of digital RMB through intelligent self-service machines and tools, ski gloves, Winter Olympic characteristic badges, smart watches and other equipment. Digital RMB has achieved full coverage of seven scenes, such as medical and health care, transportation and travel.
It is worth mentioning that the first digital RMB Hard Wallet product during the Winter Olympics will also be “on the stage”. Liu Jin said that Bank Of China Limited(601988) will exclusively undertake the digital RMB pilot service within the Winter Olympic security red line. During the Winter Olympic Games, Bank Of China Limited(601988) will provide two digital RMB pilot services of “soft wallet” and “Hard Wallet”. Customers can complete the opening, recharge, consumption, cancellation and other operations of “soft wallet” through their personal mobile phone. The “Hard Wallet” will provide services in the form of physical wallet, and the corresponding physical Winter Olympic exclusive products such as cards and bracelets will be named “ice core” and “snow ring” respectively.
“A hard wallet is similar to a credit card. There is a very small electronic display window above the hard wallet, which can display the balance. The number in each consumption window will change and deduct automatically, which is very convenient to use.” Liu Jin said.
It is understood that at present, Bank Of China Limited(601988) has created more than 40000 acceptance scenes in Beijing and Zhangjiakou, covering diversified needs such as food, housing, transportation, tourism, shopping and entertainment. During the Winter Olympic Games, domestic and foreign customers can handle wallet services at Bank Of China Limited(601988) outlets in the Winter Olympic region, Winter Olympic contracted hotels and visa customer service center, and experience convenient payment at merchants accepting digital RMB.
In addition, in terms of financial product innovation for the Winter Olympics, Bank Of China Limited(601988) has successively launched eight Winter Olympics ice and snow themed credit cards, among which the Winter Olympics themed double label credit card jointly issued by visa and UnionPay will become one of the main payment products in the venues of Beijing 2022 Winter Olympics.
epidemic prevention and control runs through cash deposit and withdrawal business
At present, the epidemic situation presents a multi-point distribution trend, and the prevention and control of the Winter Olympic epidemic has also attracted the attention of the industry. In terms of epidemic prevention and control of the Winter Olympics, Li Mingxiao said that since last year, the Beijing Banking and Insurance Regulatory Bureau has successively issued 15 special documents to carry out surprise spot checks on nearly 400 outlets under its jurisdiction. At the same time, all external cash paid by bank outlets in the Winter Olympics core guarantee area must be sealed and new vouchers, so as to purify the cash circulation environment from the source.
Recently, there have been locally confirmed cases in Beijing, and the situation of epidemic prevention and control is grim. Li Mingxiao introduced that the Beijing Banking and Insurance Regulatory Bureau recently issued special documents to urge banks and insurance institutions in Beijing to comprehensively strengthen epidemic prevention and control, and establish a game time service guarantee mechanism with organic connection, smooth operation and rapid response. At present, 56 banking workers have entered the security red line to provide on-site services. On January 21, Yanqing Winter Olympic Village will start closed-loop management. At that time, another 22 people will enter the closed-loop to provide on-site services. In addition, the Beijing Banking and insurance regulatory bureau also guided insurance institutions to develop comprehensive personal insurance clauses for covid-19 pneumonia exclusive to the Winter Olympics to provide insurance coverage for death, medical expenses and emergency rescue expenses caused by covid-19 pneumonia.
“Epidemic prevention and control is more important than Mount Tai. We have deployed professional killing equipment within the network, with no dead corner and full coverage.” Liu Jin said that, for example, different machines and tools are used for counter collection and payment, and two lines of revenue and expenditure are used. The process of self-service equipment is optimized to ensure that the cash received will not be paid circularly, so as to prevent the risk of epidemic through cash channels. In addition, Bank Of China Limited(601988) also formulated special emergency plans and epidemic prevention plans, carried out pre competition drills and tests, and took multiple measures to ensure business continuity and stability during the Winter Olympics.
the “post Winter Olympics” era continues to help the ice and snow industry
The Winter Olympics is only a phased event. How to continuously help the development of ice and snow industry in the “post Winter Olympics” era also needs the continuous efforts of financial institutions. Li Mingxiao said that financial institutions should actively explore the innovation of ice and snow financial services in the “post Winter Olympics” era, focusing on supporting financial support for the post competition transformation and utilization of Winter Olympic venues and supporting infrastructure, ice and snow sports production and consumption, sports events, sports leisure and other fields. At the same time, we should rely on Beijing’s “mass entrepreneurship and innovation” advantages, make good use of characteristic financial service schemes such as cultural loan and creative loan, deeply tap the potential of scientific and technological financial services, and promote the vigorous development of the economy of “ice and snow +” related industries. For example, support the integrated development of ice and snow sports and cultural performances, creative design of sporting goods and derivatives, exhibition advertising, film and television and other formats; Support new business formats and scenarios such as “5g + 8K + ice and snow event broadcasting” and “big data + ice and snow sports analysis” to drive the digital and intelligent development of the ice and snow industry.
“In the ‘post Winter Olympics’ era, we should strive to guide more ordinary ice and snow lovers to participate in ice and snow sports, and guide finance to vigorously support the development of ice and snow industry. This is also the field of financial services that we should focus on and promote in the next step.” Li Mingxiao said.
“To promote public participation in ice and snow sports and support the development of ice and snow industry is not only the construction of venues and infrastructure, but also a lot of supporting services.” Liu Jin introduced that taking skiing venues as an example, the venues need supporting catering, entertainment, various clothing and appliances, which need to be paid and bank services. Therefore, Bank Of China Limited(601988) in the “post Winter Olympics” era, Bank Of China Limited(601988) in addition to helping the construction of ice and snow venues and ice and snow infrastructure, it will also make unremitting efforts in the personal financial services of skiers and skiers.
