Against the background of changes in national policies for exporting used cars and intensified competition among the industry, a new energy vehicle trading company in Chongqing has encountered financing difficulties in its transformation and modified vehicle export business. The Municipal Commerce Commission, in conjunction with Bank of Chongqing, actively conducted research, responded quickly, and jointly innovated to launch a "three-order financing" model with "export customs orders + CITIC insurance policies + international automobile intermodal cargo waybills" as the core to provide new financing for enterprises. This model forms a closed loop of risk control through three core documents, opening up new financing paths for enterprises that have transformed and modified vehicles to export, effectively solving corporate financing problems, and demonstrating the financial innovation resilience of the Chongqing Pilot Free Trade Zone.

1. The road for enterprises to break through under policy changes

The company was originally a licensed enterprise in the "Announcement of Chongqing City Commerce Commission on the List of Pilot Enterprises for Used Car Export in Our City" and relied on license resources to carry out used car export business in Russia, United Arab Emirates and other countries. In March 2024, the Ministry of Commerce implemented the new policy, and the export of used cars was completely changed to the filing system. The number of export companies in Chongqing surged and price competition intensified. In November 2025, the four departments jointly issued the "Notice on Further Strengthening the Export Management of Used Vehicles" to strictly control the export of vehicles under 180 days of registration in the name of used cars, and companies were forced to turn to modified vehicle export tracks. The pain of transformation has given rise to the financing needs of enterprises. Traditional credit granting relies on corporate license qualifications and historical export data. After policy adjustment, the bank's risk control model failed, and export financing for modified vehicles was even blank, lacking mature financing solutions.

2. "Three Orders Financing" Model: Financial Innovation with Documents Control as the Core

Faced with corporate difficulties, the Municipal Commerce Commission teamed up with Bank of Chongqing to carry out innovative exploration of banking-government cooperation and finance, using export customs orders, CITIC insurance policies, and international automobile intermodal cargo waybills as the core credit basis.

Export customs orders verify cargo customs clearance compliance;

CITIC Insurance policies cover default risks of overseas buyers

The international automobile intermodal cargo waybill guarantees the cargo rights in the land transport section of multimodal transport.

By integrating the "three orders" data, banks achieve real-time monitoring and risk assessment of the entire export process of enterprises.

This innovative model provides an adapted solution for corporate financing. Enterprises do not need to provide additional mortgages or insurance, and can apply for credit based on only "three orders", fundamentally solving the problem of corporate financing difficulties. Relying on the new model of "three orders financing", Bank of Chongqing Free Trade Zone Branch quickly granted credit to enterprises of 12 million yuan, providing a strong financial engine and empowering enterprises to move forward lightly.

3. Demonstration significance of innovation models

In recent years, as the export demand for new energy vehicles continues to rise, how to break through financing bottlenecks and enhance international competitiveness in inland areas has become a key issue. As an important automobile manufacturing town in China, Chongqing relies on the policy advantages of the Pilot Free Trade Zone to innovatively launch the "three orders financing" model, using core documents such as export customs orders and international waybills as credit carriers to open up the "last mile" of financial support for exports. This model not only achieves the deep integration of financial instruments and industrial practices, but also provides a replicable and replicable new financing path for China's automobile industry to "go global."

In the future, Chongqing will deepen the innovation and innovation of "credit financing + document control of goods" to promote the automobile industry chain to go overseas. It also relies on the United Nations Convention on Negotiable Documents of Goods to promote the "Chongqing Plan" to become a global trade and finance standard.

Source: Chongqing Commerce Commission

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