A forum on the digital development of inclusive finance will be held on Nov 6 in Shanghai, as a key part of the third China International Import Expo. It will help small, medium and micro enterprises learn about shoring up their financial services while boosting business development in the long run, organizers said.

Co-sponsored by the People's Bank of China and Bank of China, the forum will focus on opportunities and challenges of inclusive finance in the era of COVID-19. It will also promote the applications of the latest financial technologies.

As the sole strategic partner of the expo, BOC will continue to share experiences with governments and enterprises around the world, working to enhance the CIIE's international influence.

BOC, a large State-controlled commercial bank, has always been committed to serving the national plans and greatly values the development of inclusive finance.

BOC adheres to a technology-led and innovation-driven model in developing sustainable and inclusive financing.

That strategy has brought the bank remarkable results.

By the third quarter of this year, BOC's inclusive financial loan balance increased by 42 percent compared to the beginning of the year, far exceeding the growth rate of the bank's entirety of loans.

The comprehensive financing cost of newly launched inclusive small and micro enterprises decreased during that time and the regulatory target was completed in stages.

As of the end of September, BOC had completed 520,000 questionnaires, docked nearly 8,000 enterprises and accumulated 42.24 billion yuan in financing.

Since the beginning of this year, its branches in Zhejiang, Henan, Jiangxi, Jiangsu, Sichuan, Guangdong provinces have increased financing support for key customer groups by signing cooperation agreements, launching exclusive products and organizing marketing activities.

To enhance the quality and efficiency of inclusive financial services through technologies, BOC will launch credit and tax loans online for small and micro enterprises.

The online platform will evaluate enterprises through an automated risk management and control system.

It will also offer financing services for customer applications, reviews, approvals, withdrawals and repayment.