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Rockcheck Setting down to Engage in Payment to Response to the Industrial Depression

2014-3-27 Journalist Yang Ye Reported from Tianjin Source: Economic Information Daily

“We are integrating the Reapal Payment Platform. Rongtong Materials Bulk Commodity E-commerce Platform and innovative internet financial services to create the ‘quaternity’ comprehensive service platform for serving the real economy,” said Zhang Xiangqing, Chairman of Tianjin Rockcheck Investment Holding Group Co., Ltd., on the press conference held on March 26. In the context where the whole iron and steel industry is challenged by decreasing profits, and numbers of iron and steel enterprises have reduced output or stopped production, Rockcheck, as an old private iron and steel enterprise, is trying to turn and transform to finance and payment industry.

Journalist of Economic Information Daily learned that at the conference, Tianjin United Metallurgical Mercantile Center and Shanghai Steel Trading Center Co., Ltd., Jizhong Energy International Logistics Group Co., Ltd., Xingtai Iron and Steel Corp., Ltd., Tewoo Metals International Trade Co., Ltd. and other enterprises entered into a strategic cooperation agreement.

It was reported that Tianjin Rockcheck Network Technology Co., Ltd. subordinated to Rockcheck was granted with internet payment and cell phone payment license in June 2012, which made Rockcheck an iron and steel enterprise in possession of payment license in metallurgical industry just second to Baosteel. “Reapal” platform of Rockcheck was launched in January 2013, and the turnover up to the end of 2013 exceeded RMB 10 billion. On the basis of payment businesses, Rockcheck planned B2B Reapal e-commerce platform. In addition, Rockcheck and People’s Government of Tianjin established Tianjin United Metallurgical Mercantile Trading Center in December 2013 based on the reorganization of Tianjin United Mercantile Exchange, and applied to found commercial insurance company and leasing and financing company and other financial service companies at the same time.

“We are dropping in terms of our ranking in the top 500 private companies, because the overall depression of iron and steel industry,” said an insiders of Rockcheck over Rockcheck’s transformation to finance and payment. It was known that Tianjin Rockcheck Steel Group Co., Ltd. subordinated to Rockcheck ranked 34th out of top 500 private corporations in China in 2013, a drop of 3 compared with 2012.

“We inferred and judged that just like other bulk commodities, iron and steel industry will enter the financial times, and industrial finance and internet finance may be one of the important channels and pathways. This is one reason accountable for our transformation,” said a senior personnel of Rockcheck.

It is noticeable that the official website of Rockcheck published that health maintenance would be one direction for their diversified development. According to information available, Rockcheck duly executed Hejiang 100,000 t White Spirits Base Project Investment Agreement with People’s Government of Hejiang, Luzhou on September 28, 2013. With a total investment of RMB 12 billion and land area of 5,000 mu, the project consists of a white spirits production base with an annual output of 100,000 t, wharf, chateau and health maintenance center.