CFEC 7th Chinese Commercial Factoring Industry Summit (2019) held in Tianjin

--Targeting SMEs, Supporting Real Economy, Embracing Compliance and Innovation, Operating with Caution

From April 17th to April 19th, CFEC 7th Chinese Commercial Factoring Industry Summit (short for CFEC 2019 Summit) took place at Intercontinental Hotel, Tianjin Economic and Technological Development Zone.

Li Rongqiang, deputy secretary general and deputy director of general office of Tianjin municipality, Qu Weixi, vice president of Chinese Academy of International Trade and Economic Cooperation (CAITEC) of Ministry of Commerce (MOC), Zhang Yanling, former vice president of Bank of China and executive director of International Chamber of Commerce (ICC), Lin Hui, FCI regional director of North East Asia, Chris Wohlert, chief of Wellsfargo Bank Asian Factoring Business delivered speeches, officers from Tianjin Municipal Finance Department, judges from Tianjin Supreme Court, presidents and secretary-generals from Tianjin, Beijing, Shanghai, Chongqing, Suzhou, Shenzhen and Guangdong Provincial commercial factoring associations, industrial experts and over 400 delegates attended the summit.

Themed as “Targeting SMEs, Supporting Real Economy, Embracing Compliance and Innovation, Operating with Caution”, the summit comprises an ABS Salon, a Work Conference of CFEC Members, the Opening Ceremony of the CFEC 2019 Summit, an award banquet, a major forum designed for exploring cooperation between commercial factoring and banking sectors, and three parallel forums—factoring application in niche fields (non-ferrous metals industry & medical and pharmaceutical industry); risk control and management; Fintech application. Delegates and experts involved fully during the sessions.

On April 19th, 2019, the 2019 Summit was concluded by Mr. Han, general director of CFEC. According to Han’s speech, it is estimated that Chinese commercial factoring companies have financed 3 trillion RMB (about 445.67 billion USD) since 2012; in 2018 alone, Chinese commercial factoring business provided 1200 billion RMB (about 178.27 billion USD) for 1,200,000 SMEs.