OREANDA-NEWS. November 14, 2011. Since January this year, ICBC rolled out "E-Line Link", an online "one-stop" service jointly sponsored by ICBC and government for company registration and capital verification. "E-Line Link" is designed for small startups offering financial support and good conditions for their growth. Besides faster company registration and capital verification, the service also helps small startups relieve financial burden. At the end of September, ICBC launched "E-Line Link" services with local Administration for Industry and Commerce in 18 provinces/cities nationwide. Over 60,000 customers used the service for the capital verification involving an amount of almost RMB 41 billion. Most of the customers were small enterprises, reported the press-centre of ICBC.

In the past, new companies have to deposit the capital in the bank first. After verification on the capital, accounting firm issued paper report which should be submitted to the Administration for Industry and Commerce. Apart from the tedious steps, companies have to spend considerable amount on the fee. Now, in ICBC's newly-launched "E-Line Link", ICBC system is connected to the system of company registration authority for exchange of information in real-time. In another word, part of the company registration services are now processed through the ICBC outlets. After verification on the new company's capital, the information can be transmitted to the company registration authority in real-time through the ICBC system. Moreover, anytime the company registration authority can look up the capital in the newly registered company's account.

During the process, ICBC also provides necessary advisory service for the companies, assisting companies in the registration, preparation of necessary application documents. In the end, the capital verification runs smoothly, with less time spent in review and higher efficiency in the approval. The "E-Line Link" system enables real-time exchange of data between ICBC and the company registration authority. This means information can be shared between all parties (company registration authority, ICBC and accounting firm) during verification of the capital paid up by new companies for registration. The system also helps control risk and prevents fraudulent verification.

On top of the "E-Line Link" service, ICBC also provides a range of convenient financial service packages that combine the services of settlement, wealth management, finance and bank card to cater for the needs of newly registered small enterprises in settlement and financial management in a bid to support their growth.