The Bank of China (BOC) has launched a high profile campaign trailing a variety of products it is offering business customers to help them counter some of the worst impacts of the credit crunch.

Letters of credit (L/Cs) for domestic and overseas transactions feature in the bank's product range.

Accounts receivable

Recently, BOC introduced its Tongyida service, which the bank says can be used by its China-based customers.

Under this scheme, business customers can open import L/Cs, and the bank will accept the accounts receivable under the L/Cs as collateral.

Solutions

This, according to BOC, solves the problem of inadequate credit lines and reduces the cost of trade financing.

Domestic L/Cs are also part of BOC's current offering, which also includes factoring and forfaiting.

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