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Introduction of CFEC

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The only National self-disciplined organization in commercial factoring industry in China

High-end communication and cooperation platform for commercial factors

About CFEC

Established in 2012, approved by the Ministry of Commerce and registered in the Ministry of Civil Affairs when the commercial Ministry started the pilot of commercial factoring in China.  Commercial Factoring Expertise Committee (CFEC) of China Association of Trade In Service (CATIS) is the only national self-disciplined organization in commercial factoring industry in China.

Goals

To promote the robust development of commercial factoring in China;

To improve the management and service of commercial factors;

To bring together government departments, chambers, associations, research institutes, colleges and universities to exchange views on the development of Chinas commercial factoring industry;

To enhance international exchange and cooperation.

Organizational Structure

l 193 Members

1 Director--Chinese Academy of International Trade and Economic Cooperation, MOFCOM

34 Deputy Directors

56 Members of standing

102 Ordinary Members

l 5 Work Groups

Policy, law and regulation

Education and training

Risk management

Finance

Internet finance

l 13 Liaison offices

13 liaison offices established in different provinces and cities, including An Hui, Guang Dong, Guang Xi, Jiang Su, Nanning, Shan Dong, Chongqing, Changsha, Shanghai, Shenzhen, Wuhan, Hong Kong and Horgos.

l Research Institute

Yueda Factoring Research Institute

Established in 2015, Yueda Factoring Research Institute focuses on the study and research of the factoring market in China in addition to publishing academic papers and reports related to commercial factoring.

l Academic Committee

21 members in the committee

Being the advisors or consultants for meetings, forums, etc. or the reviewers for academic papers and reports

Important Events

l Workshops of CFEC Directors, held in January annually

l The Commercial Factoring Industry Summit of China, held in early April annually

l Conferences on Receivables Finance and Cooperation, held in August or September annually

l Training and tests for National Factoring Certificate of China(NFCC), held every two months

l Public education activities of commercial factoring, held occasionally

l China Commercial Factoring Awards

Achievements

l Specimen Contracts of Domestic Commercial Factoring (recourse and non-recourse)

l Operational Guidance for Risk Management of Commercial Factoring

l General Rules for China Domestic Two Factoring

l Provisions for Operational Risk Assessment Agency

l Self-discipline pact for commercial factoring employees

l Commercial Factoring Credit Information Exchange System ( the Blacklist system)

l Terminology of China Commercial Factoring

l Annual Report on the Development of China Commercial Factoring Industry

Facts & Figures

l Number of commercial factors

2012---71

2013--- 284

2014---1,220

2015--- 2,514

2016--- 5,584 ( Operational: 1,100, Active: 800)

l Commercial factoring turnover

2012---10b RMB

2013---20b RMB

2014---100b RMB

2015---200b RMB

2016--- 500b RMB

l Accounts Receivable

2012---8,219 b RMB, up 17.63%

2013---9,569 b RMB, up 16.43%

2014---10,517 b RMB, up 9.9%

2015---11,450 b RMB, up 7.9%

2016---12,600b RMB, up 9.6%

* Accounts Receivable are from industrial enterprises with annual revenue of 20 million yuan (3 million US Dollars) or more from their main business operations.

l Sources of funding

ABS---46%

Non-bank financial institutions---23%

Bank loans---13%

Shareholder's equity ---9%

P2P---6%

Others---2%

l Assets Exchange Institutes---1%Sectors and turnover

Aviation---51.65b Yuan

Wholesale and retail---9.81b Yuan

Construction---5.58b Yuan

Manufacture---4.88v Yuan

Road Transport and warehouse ---2.42b Yuan

Agriculture, forestry, animal husbandry and fishery industry---1.9b Yuan1.17b Yuan

Real estate---0.95b Yuan

Pharmaceuticals and Medical Instruments---0.44b Yuan

Chemical Industry---0.41b Yuan

Trade---400m Yuan

Power, heat, gas, water production and supply---240m Yuan

Cultural & Media Industry---40m Yuan

Others---320m Yuan

 

Commercial Factoring Expertise Committee (CFEC), CATIS

Tel: 0086-10-64515241, 64515363

Address?No. 28, Dong Hou Xiang, An Ding Men Wai, Dong Cheng District, Beijing, P.R. China

Post Code: 100710

E-mail: cfec@cfec.org.cn

Website: www.cfec.org.cn

WeChat: shangbaozhuanweihui


Tel:010-64515363 ,010-64515241
Fax:010-64515363
E-mail:cfec@cfec.org.cn
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