The iron and steel industry is an important basic industry of the national economy. At the same time, the iron and steel industry is in the upstream of the infrastructure industry and closely linked with the industrial chain of the infrastructure industry. It is understood that steel trading enterprises are more dependent on warehouse receipt pledge for financing, so they generally face financing problems and are more affected by the price of upstream raw materials. Traditional supply chain finance is difficult to get through the steel trade enterprise financing obstruction, micro dig supply chain scenario, the bank by big data risk control model, with data supply chain financial services products, in order to “digital” + “scene” implementation “to the core”, in order to not rely too much on the core enterprise credit, don’t need to pledge the advantage of the characteristics, the plugging point to break the traditional supply chain finance.

Yao Hongchao, Chairman of Sinosteel Technology Group, said in his speech that Sinosteel is an industrial Internet platform enterprise, which has always been adhering to the corporate vision of helping the industry to achieve excellence and doing its best to provide enabling services for the high-quality development of the industry. In the face of financing difficulties and other problems commonly faced by its customers, Sinosteel hopes to better solve the short, frequent and urgent financing needs of these enterprises and further reduce their financing costs through strategic cooperation with WeBank.