Two Commercial Factoring Enterprises of Central SOEs in TEDA Increased Capital by 1.4 Billion

A subsidiary of China Chengtong Holdings Group Co., Ltd., Chengtong Commercial Factoring Co., Ltd., increased its capital by 1 billion yuan in TEDA, while Sinochem Commercial Factoring Co., Ltd., a subsidiary of China Sinochem Group Co., Ltd., increased its capital by 400 million yuan. The registered capital of the two companies has been increased to RMB 3 billion and RMB 1 billion respectively.

Incorporated in July 2018 in TEDA, Chengtong Commercial Factoring Co., Ltd. is now operating in big data accurate marketing, credit enhancement and risk control and asset securitization. It provides commercial factoring services for central SOEs(State-owned enterprises), infrastructure complex development, bulk commodity circulation and financial lease. Sinochem Commercial Factoring Co., Ltd. was incorporated in February 2018 in TEDA. The company takes accounts receivable management as its advantage to serve the Group's main business and customize service solutions for its clients.