HSBC is working with Cianiao to offer efficient finance for online merchants.
In Brief:
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Cianiao is the logistics arm of Alibaba.
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The finance will be available to 1,800 merchants on Alibaba’s Tmall.
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They will be charges 1% until 30 June.
What does this mean?
This is a first for HSBC, as it will use data from third party Cainiao – such as inventory information – to approve trade financing.