CEF secures Chinese factoring license

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01 December 2009

China Export Finance (CEF) has been awarded a licence to carry out factoring in China.

Independent supply chain finance company China Export Finance (CEF) has been awarded a factoring licence by the Tianjin Trade & Industry Bureau.

CEF specialises in supporting trade flows between China and the West. A wholly-owned subsidiary of CEF called CEF (Tianjin) Supply Chain Financial Service. (CEF(TJ)) will operate the licence in China. CEF is believed to be the only foreign-owned independent supply chain finance company to have secured such a licence.

CEF purchases a Chinese seller’s receivables and makes an advance payment to the seller against the approval of a Western buyer, who settles directly...

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