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ICBC Uses E-commerce to Support Targeted Poverty Alleviation

The Poverty Alleviation Project in Jiuyuan Black Fowl Breeding Industry, which ICBC has carried out in Wanyuan, Sichuan Province since last year, has begun to show effect. As of now, over 16,000 chicks, which were given at earlier stage to eight poor villages including Laowaping village and Lijiagou village of Chaya township as well as Dalunkan village of Jiuyuan town in Wanyuan city, have been slaughtered for meat and generated revenue of nearly RMB 1.3 million. It has helped 290 people from 98 households get rid of poverty as scheduled.

Featuring “farmer + company + cooperative + supporting unit + e-commerce platform”, the Poverty Alleviation Project in Jiuyuan Black Fowl Breeding Industry highlights a hematopoietic type of poverty alleviation. The approach is that ICBC offers start-up capital, subsidies for purchase of chicks as well as maintenance and construction of henhouses, chick property insurance to registered poor households. Leading enterprises provide the poor with qualified chicks, support in breeding techniques and promise to repurchase the unsold part. Meanwhile, the Bank uses its e-commerce platform “ICBC Mall” and its resources to recommend and promote Jiuyuan Black Fowl to customers nationwide, helping expand market for black fowls and eggs. It has sold over 5,700 black fowls and 60,000 eggs in total, with sales revenue of RMB 450,000. The project protects the poor in steps such as purchase of chicks, breeding of black fowls, sale of adult chickens, making sure that the poor can get rid of poverty on their own.

An official with ICBC suggests that the Bank will continue to conduct black fowl breeding project in Wanyuan this year, which is expected to bright about net income of over RMB 7.2 million to the local. In addition, the mode of poverty alleviation via e-commerce will be promoted in larger scope. Under witness of Yin Li, Governor of Sichuan Province, and Yi Huiman, Chairman of ICBC, Vice Governor Zhu Hexin and Vice President Tan Jiong respectively on behalf of Sichuan Provincial Government and ICBC signed the Strategic Cooperation Agreement on ICBC Mall E-commerce Poverty Alleviation in Chengdu, aiming to leverage ICBC Mall to boost the development of industrial economy in poor areas of Sichuan Province.

As the largest commercial bank in China, ICBC always takes poverty alleviation as a priority in fulfilling social responsibility. The Bank has started to help designated places out of poverty in line with the national plan for poverty alleviation since 1995. Over the past 22 years, ICBC has blazed a characteristic new path of poverty alleviation combining education, health, industry, green, financial and disaster relief alleviation. It has donated nearly RMB 140 million to four counties, and granted RMB 8 billion to local poverty alleviation projects, which has made a difference in poor areas together with local Party committees, governments and the public.