Study Of Promoting Prospect In China For Bank Payment Obligation In The Context Of Data Concentration

Bank Payment Obligation (BPO) is a new type of trade settlement and financing tool developed by The International Chamber of Commerce (ICC) and The Society for Worldwide Interbank Financial Telecommunication (SWIFT). BPO is expected to bring a completely digital change into the field of international trade settlement. It combines the convenience of open account and the security of letter of credit with the specialty of supply chain services. The Internet Era gradually shows a main characteristic of "data concentration" since 21st century. Generalizing BPO in China not only meets the needs of trade enterprises to improve efficiency and security, but also meets the needs of banks to grasp data flow in trading so as to manage trade supply china and to provide better supply chain finance service.First, this paper will describe the background of the emergence of BPO and its connotation and characteristics, proposing the necessity to promote BPO in China. Secondly, raise the purpose and significance of this research, and propose the research method and innovation points of this paper. Thirdly, study on the development of the research about BPO at home and abroad. Then, this paper will conclude the advantages and obstacles in the process of promoting BPO in China through the statistical analysis of the survey data from commercial banks of China combining with the present development of trade settlemnt and relevant laws, regulations, and practices concerning BPO. Based on the above analysis, this paper will propose innovative suggestions for the promoting process of BPO in China. Finally, this paper will take a BPO case between China CITIC Bank and Malaysia’s CIMB Bank as an example to discuss the reference significance rising from this case.