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Commercial bills refer to the notes issued by a drawer, for which the commissioned payer unconditionally pays the entire amount determined to the payee or holder on a specific date. They are divided into commercial acceptance bills and banker’s acceptances. As a way of financing between financial institutions, rediscount for commercial bills refers to a financial institution’s transfer of undue discounted commercial bills to another financial institution in order to obtain funds. Rediscount falls into rediscount buying and selling. Rediscount buying comes into buyout and reverse repurchase. Rediscount selling is divided into outright sale and reverse repurchase.
The bill financing business is undergoing the transformation towards “tradable” and “fining” operation. The electronic bill business is developing in full swing to create “a voice, an outlet, and a joint force” in the bill market, take advantage of the size of funds used, and thus have our voice better heard in the bill market. With the average annual trading volume of more than3 trillions RMB in the past three years, we have exerted a decisive influence in the bill market.