In 2023, Sino-Parsons and Bank of Shanghai reached a strategic cooperation.

As Bank of Shanghai’s tech partner for online supply chain and inclusive banking business, Sino-Parsons will craft an integrated digital platform for its travel supply chain business.

1. Sino-Parsons will deliver an innovative financial technology solution for supply chain, which will boost Bank of Shanghai’s capabilities for supporting business travel supply chain finance, and providing more convenient and efficient financing services for TMC.
2. Sino-Parsons and Tengxuan Travel Group has reached a strategic cooperation, in which the two parties will jointly develop financing based on travel supply chain data and tap into this blue ocean market worth nearly RMB 100 billion. Currently, a large number of well-known TMC agencies are under negotiation.
3. The coverage of business travel management in China is less than 10%, lagging far behind the 40% coverage of the global market. Therefore, this market has immense potential, and China's leading TMCs will have room for up to 10 times growth in the future.