Has BOC developed any new products or solutions for customers built around the TSU?
We recently formulated a TSU BPO [bank payment obligation] solution for domestic trade services, which provides payment guarantees as well as financing services to domestic buyers and sellers in China. This April, the Shanghai branch of BOC handled the first TSU BPO in the world. This domestic trade transaction was between a renowned local automobile tire manufacturer and its rubber supplier. During the process, BOC issued a BPO promising to pay the seller as long as the document data submitted by the seller matches the PO data by the buyer. The transaction was successfully completed and both buyer and the seller were satisfied with the TSU BPO service provided by BOC. Prior to implementing the direct connection with Bank of Tokyo Mitsubishi UFJ, was BOC actually using TSU to process open account trade transactions? We completed the first TSU live open account transaction in China in co-operation with Bank of Tokyo Mitsubishi UFJ in 2007, not long after TSU went live in the world. Sinc
