What is a supply chain bill and how to use it?

? In order to better serve small and medium-sized enterprises and support the development of supply chain finance, with the consent of the People's Bank of China, the Shanghai Bill Exchange (hereinafter referred to as the Bill Exchange) actively promoted the billing of accounts receivable and built and developed a supply chain bill platform. On April 24, 2020, the supply chain bill platform of Shanghai Bill Exchange was successfully put into trial operation. ?

Seeing this news, I also studied it carefully, especially with two of the four pilot supply chain companies, and also summarized and listed several key issues to share with you!

1. What is a supply chain bill? What is the supply chain bill like? What are the advantages of supply chain bills compared with traditional bills? Can the supply chain bill be split? !

Second, what was the original intention of creating supply chain bills? What impact does the supply chain bill have on the current supply chain platform?

Third, the impact of supply chain bills on the market!

What is a supply chain bill?

0 1? Supply chain bills? Refers to the electronic commercial bills issued through the supply chain bill platform. When there is a A/R/A relationship between supply chain enterprises, supply chain bills can be issued directly through the supply chain bill platform, and supply chain bills can be circulated among enterprises and financed through discounted or standardized bills.

? Don't understand? Direct hard-won high-definition big picture of supply chain bill!

? After reading it, the intuitive feeling is not much different from the electronic commercial draft. Two main differences:

1, the header has changed, from electronic commercial bill to supply chain bill.

2. The column of "bill interval number" was added.

? Don't underestimate the little difference between the two pieces, but it has a great influence. Let me explain it in detail.

1. Supply chain bills are not electronic commercial bills in the traditional sense. First of all, supply chain bills are bills opened by enterprises on the supply chain bill platform accessed by Shanghai Stock Exchange through the supply chain platform. At present, it can't communicate with the electronic ticket system accessed through bank online banking! In other words, supply chain bills can only be paid and transferred on the supply chain bill platform, and cannot be endorsed and transferred through the bank electronic bill system.

I also learned that it is possible to achieve interoperability in the future! At present, the ticket exchange is also trying to realize platform interconnection through technical means. After all, creating standardization is the general trend of the future.

2. We see that the supply chain billing system puts forward the concept of "sub-billing", and the sub-billing interval has the corresponding billing interval number. Seeing this, I have a guess that the supply chain bill can be split! By contacting colleagues in a pilot supply chain platform, the final implementation of the supply chain bill is indeed detachable! The denomination split conforms to the definition of equal differentiation.

The biggest feature of supply chain bills is that they can be split, and the minimum face value of a single bill is 1 yuan. In the circulation process, bill groups can be combined into any number of circulation, and bill groups can be divided into sub-bill groups for circulation. In the settlement of suppliers at all levels, it is divided and circulated step by step, which runs through the whole supply chain.

The original intention of creating supply chain bill "try to figure out"

To understand the original intention of Shanghai Stock Exchange to build supply chain bills, we must first start with the supply chain platform. When it comes to the supply chain platform, we have to talk about the Yun Xin model of enterprise cloud chain in China.

1. Yun Xin is a settlement tool for enterprise economic exchanges on China enterprise cloud chain financial platform, and it is an electronic transaction voucher. Enterprises use Yun Xin for payment and settlement, which greatly improves the settlement efficiency, solves the problem of triangular debt, and greatly reduces the financial expenses brought by cash payment. Yun Xin is a corporate credit circulating on the cloud chain financial platform, and it is an innovative financial product that large enterprise groups transform their high-quality corporate credit into circulation, financing and flexible configuration through the cloud chain financial platform.

? We often have other supply chain financial platforms, such as Jianxin Rongtong and Tiejian Yin Xin, which are good tools for supply chain financial services. Some people also question whether this token-based tool meets the policy requirements.

In my opinion, these voucher tools are different from token ICO. The core enterprises on such platforms have good intentions and a sense of social responsibility. They are strictly based on the real trade background and open up a multi-level supply chain, which is worth learning.

However, compared with the commercial ticket mode, the voucher tool of the blockchain mode supply chain platform is closed, and the voucher is not standardized enough and can only be circulated in the supply chain system selected by the core enterprises. For example, Yun Xin can't go to TCL for simple remittance. However, this model can better ensure the circulation of funds in the industry, ensure the complete correspondence of logistics, capital flow and information flow, and prevent funds from being divorced from reality to some extent.

? Explain here, let's simply sort it out:

1. At present, there are many homogeneous supply chain platforms, all of which are competitive businesses, and the corresponding electronic creditor's rights vouchers cannot be interoperable, which is contrary to the general trend of standardization.

Second, there are no detailed standards for the establishment and access of supply chain platforms. At present, electronic creditor's rights certificates are supervised by the platform itself, which cannot completely eliminate risks.

III. Shanghai Stock Exchange promotes bills receivable and standardized bills.

Then, in view of these pain points and needs, we try to find out the original intention of setting up supply chain bills:

First, to achieve the unification of electronic bond certificates, electronic commercial bills are the most standardized tools. Let the supply chain platform develop or use the standardized tool of supply chain bill to replace the platform's own vouchers, which maximizes the standardization trend and realizes the voucher exchange between different supply chain platforms!

Second, the supply chain bill data can be supervised by the supply chain platform, and can also be supervised by the Shanghai Stock Exchange and the People's Bank of China, thus maximizing risk avoidance.

Thirdly, in the implementation of standardized bills of commercial bills, it is a complex link to collect bill assets that are completely compliant and have real trade background. Supply chain bills can completely realize the collection of platform bill assets, and the information flow, logistics and capital flow of the supply chain platform are consistent, which ensures the circulation of bills based on the real trade background to the maximum extent.

? What impact does the supply chain bill have on the supply chain platform?

In the short term, it will affect the promotion of its own electronic bond tools.

? The standardized supply chain bill tools are more conducive to the supply chain platform to promote platform tools to core enterprises. Because policy support maximizes the compliance of the platform and the trust of core enterprises, it also maximizes the complex process of small and medium-sized enterprises in the supply chain repeating different platforms and using different tools, and realizes the standardization of platform tools, platforms and financing.

Impact of supply chain bills

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First, supply chain bills can be split to solve the payment and financing problems for many years. After the split, the ticket-holding enterprise can split the corresponding amount to pay the upstream and downstream, or split the corresponding amount for financing. The initial intention of realizing bill payment function and financing function.

Second, provide quality assets for standardized bills! This is really important! It is really the most important step to open up territory for standardized bills! We can also see that standardized bills are "pro-sons", which is the general trend! It is estimated that the small partners of brokers can't help but be ready when they see it here!

Third, will supply chain bills have a great impact on the current bill market? No, at least not for a while. At present, supply chain bills are also in the pilot period, just like standardized bills, it takes time to realize them slowly. At present, only the supply chain platform and Shanghai ticket exchange platform have been opened, and the interconnection of supply chain bills and electronic commercial bills still needs a long process. If we want to communicate with each other, we must modify the existing bill law from the perspective of bill separability, right? !

Fourth, having said that, I would also like to mention the issue of folk bills. It won't have a particularly big impact in the short term. After all, the choice of core enterprise supply chain platform and bill acceptor standardized bills should start from central enterprises and state-owned enterprises. Is it unrealistic to choose large financing bonds as the subject matter?

Finally, add a flowchart.

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