Shortages in working capital and cash flow difficulties are real obstacles hindering the further expansion of many MICE companies. HuiBang, a product recently launched by HuiTang Network – the largest meeting venue group purchasing platform in China – addresses this developmental bottleneck. HuiBang offers MICE enterprises unsecured, no-guarantee-required, interest-free, and fee-exempt loans for up to three months, with credit lines of up to one million yuan. Since its launch in July this year, HuiBang has provided this service to thousands of enterprises, helping them quickly overcome financial challenges.
HuiBang is the first one-stop meeting resource full-value-chain service platform in China developed after years of preparation by HuiTang Network. It integrates venue resource procurement, intelligent meeting tools, and MICE financial services. HuiBang has pioneered the implementation of online payment functionality within a meeting group purchasing platform. Once a meeting purchaser logs in through HuiBang’s portal after real-name authentication, their requirements are instantly relayed to venue providers via another HuiTang product, Venue Cloud. Venue providers can then respond rapidly based on current venue availability, similar to how the popular “Uber” ride-hailing app operates, completing the transaction cycle through a combination of online and offline methods to precisely match the purchaser’s needs. As a result, HuiBang quickly garnered widespread attention across the industry after its launch, with industry experts even dubbing it the “magic portal for meeting procurement.”
The emergence of HuiBang addresses key industry pain points for MICE enterprises, such as limited resources, rough management, low efficiency, and cash flow issues. Its uniquely introduced financial loan feature has been particularly well-received by many MICE companies. It is understood that HuiBang users only need to provide simple documents such as a copy of the legal representative’s ID. Approval can be completed within a few working days, and loan issuance takes just three working days. Eligible businesses that meet lending criteria can receive an interest-free, fee-exempt loan with a credit line of up to one million yuan. For those with large business volumes that qualify, the credit line can be increased to over five million yuan. Through this financial loan credit feature, HuiBang has also pioneered the introduction of a credit management and evaluation system within the MICE industry for the first time, which will undoubtedly greatly promote standardization across the entire sector, allowing all MICE companies to develop in a more open, transparent, and healthy environment.
Relying on HuiTang Network’s coverage of 60,000 venues across 152 cities nationwide, HuiBang has generated nearly 200 million yuan in revenue in just two months since its launch, and has provided financial loan services to thousands of MICE companies. Due to HuiBang’s use of real-name authentication and the requirement for strict backend review before approval, it has become popular within the MICE industry for users to recommend others to register. This has sparked a wave of “HuiBang fever.”
According to Tang Liang, CEO of HuiTang Network, the upcoming version 2.0 of HuiBang will further enhance functions such as inquiry, search, credit, and payment, and will introduce international venue resources, providing even richer services for both domestic and international MICE enterprises.