Recently, the China Banking Association released the 5G and IoT Integrated Collateral Management Technical Solution for Animal Husbandry (hereinafter referred to as the "Technical Solution") group technical report, led by CIB.
The "Technical Solution," based on the integration of 5G and IoT technology, addresses the needs of banking financial institutions to conduct movable collateral loans using live animal assets in the animal husbandry industry. It proposes an implementable monitoring scheme for live animals, detailing management techniques, monitoring application modes, monitoring platforms, data management, hardware requirements, and security for sensing devices. This provides valuable guidance for the banking industry in standardizing live animal monitoring mechanisms in animal husbandry.
In 2020, the General Office of the State Council issued the Opinions on Promoting the High-Quality Development of Animal Husbandry, which set the goal of steadily improving the overall competitiveness of the animal husbandry industry, aiming for a livestock and poultry farming scale rate of 70% by 2025 and 75% by 2030.
As a domestically systemically important bank, CIB consistently transforms major national concerns into key institutional tasks. Leveraging "IoT + Blockchain + AI Technology," CIB has developed a digital supervision platform for biological assets and, based on this, created biological asset mortgage financing products. This innovation has effectively addressed the difficulties of high financing costs and access to funds faced by breeding enterprises. As of the end of April 2024, CIB has processed live animal collateral loans exceeding 1.1 billion RMB in provinces such as Shandong, Shanxi, Fujian, Hubei, and Inner Mongolia, achieving significant social benefits.