HSBC is working with Cianiao to offer efficient finance for online merchants.
In Brief:
Cianiao is the logistics arm of Alibaba.
The finance will be available to 1,800 merchants on Alibaba’s Tmall.
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.