Bills Businesses

(I) Acceptance business

Draft acceptance refers to the behavior of SFC who, as the drawee, promises to pay the draft amount to the payee or note bearer on the due date of draft based on the application of member companies.


  • Simple and convenient formalities and convenient operation;
  • Reducing the capital occupation of member companies and lowering financial expenses;
  • Low handling charge and no requirements for deposit.

?(II) Discounting businesses

1. General note discounting business

It refers to the business that member companies, as the discounting applicants, transfer undue commercial drafts to SFC via endorsement, and SFC pays for the drafts after collecting discount interest based on the agreed interest rate. It mainly covers such varieties as discounting with interest paid by the note bearers, discounting with interest paid by the buyers and discounting with agreed interest.


  • Revitalization of the note assets of member companies and increase in the operational cash flow;
  • Reduction in the financial cost of member companies and realization of low-cost financing.

When conducting industrial chain finance business, SFC also provides the following discounting businesses for its clients:

2. Discounting business of industrial chain notes

It refers to the discounting business handled by SFC for the discounting applicants in the industrial chain transaction whereby member companies serve as the buyers. If bills discounted are bank acceptance drafts, the discounting applicants should be the direct counterparties of member companies; and if bills discounted are the acceptance bills of SFC, no special restrictions will be imposed for the discounting applicants.


  • Favorable interest rate and free from other extra charges or additional terms;
  • Simple and convenient formalities and rapid fund extension;
  • No need to provide trade background information in terms of electric note discounting;
  • Easy for the buyers and sellers to enter into a sound trade partnership.

3. Buyer’s credit bill discounting

SFC may provide bill discounting services for an external client in industrial chain transactions where the member company is the seller and the external client is the purchaser if the payment thereby is made through bills, and the discounted funds shall be paid to the member company by SFC upon entrustment of the external client.


  • Supporting Sinopec companies to expand their business scale, boost product sales and rev up market competitiveness;
  • Increasing operating cash flow of Sinopec companies with direct cash collection;
  • Diversifying the financing channels for external enterprises through bill discounting and revitalizing bills assets;
  • High loan quota, simple formalities and quick loan origination;
  • Maintaining trade relations between external clients and Sinopec companies.