CFEC International Factoring Workgroup officially sets up

On January 22, CFEC held the first online meeting in 2021 to welcome and celebrate the establishment of its International Factoring Workgroup. Director Han Jiaping, General Secretary Li Wei, supervisor of Training and Publicity Department, Fu Yishan and experts from 21 factoring companies, financial service entities and law firms attended the meeting.

Aims at promoting the development of China's international factoring business, CFEC International Factoring Workgroup members discussed the status quo, workgroup vision, work schedule and precautions of China's international factoring business during the meeting. The workgroup gathers experts from backgrounds such as credit insurance, warehouse receipts financing, cross-border business, foreign currency transaction and overseas market financing.

In conclusion, Director Han Jiaping gave 4 tips to the workgroup: 

1. To study policy short boards against the growth of China's international factoring business; 

2. To push the development of international and domestic factoring business interactively; 

3. To extend factoring business to innovative scenarios such as trans-border e-commerce and digital trade from traditional scenarios; 

4. To fully consider our national conditions, to grasp international opportunities and to support a number of financial entities as pilot international factoring business.