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Supply chain finance to cut costs for small firms

Bank of China Ltd will make it easier and cheaper for small and medium-sized enterprises to borrow by promoting supply chain finance. Jiang Xu, deputy general manager of the bank's Global Trade Services Department, said that the lender is focusing on core suppliers and distributors of leading companies such as Huawei Technologies Co and Foxconn Technology Group. By connecting its information system to the enterprise resource planning systems of leading companies, the bank has gained a good understanding of the flow of capital, logistics and transactions among leading companies and their core suppliers or distributors, Jiang said.