Recently, China's Industrial Bank (CIB) completed the integration with the Fujian Provincial Department of Finance's electronic performance guarantee system for government procurement and successfully executed the platform's first transaction. This innovative service enables fully online operations, featuring convenient application, full-process traceability, and high efficiency, effectively bridging the “last mile” of digital government procurement applications.
Fujian Province continues to advance digital transformation in government procurement. The newly introduced electronic performance guarantee extends pro-business policies from the bidding phase to the entire performance process, significantly reducing corporate capital occupation costs and establishing an electronic guarantee service system covering the full cycle of government procurement. As one of the first cooperative banks, CIB took the lead in completing system upgrades and business implementation, offering online guarantee issuance services to winning enterprises nationwide. This enhances government procurement efficiency and reduces corporate operational costs.
In recent years, CIB has centered on its “CIB E” supply chain finance brand, strengthened fintech applications, and built a fully online guarantee service platform, achieving comprehensive product coverage and intelligent upgrades. Among these innovations, the “Express Guarantee” product employs intelligent risk control and automation technology, greatly reducing processing time and significantly enhancing customer experience.