Foreign media: Chinese banking sector is accelerating the use of satellite remote sensing technology to monitor credit assets and control risks.
China Merchants Bank and SPDB began using satellite tracking this year, Ping An Bank followed in 2022, while Zhejiang Internet Commercial Bank had already laid groundwork as early as 2020. This month, Postal Savings Bank jointly launched a dedicated satellite with Changguang Satellite. The technology uses high-resolution images to monitor the status of collateral such as real estate, vehicles, farmland, and construction projects in real time, ensuring smooth disposal in case of default.
Experts point out that this move aims to reduce non-performing loan ratios and address the shortcomings of traditional credit records for rural areas and small and micro enterprises.
Original source: toutiao.com/article/1863458300939268/
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