TEDA Welcomes New Force in Industry + Finance Sector

Recently, Shandong Healthcare Industry Development Group Co., Ltd., a wholly-owned subsidiary of Lukang Commercial Factoring Co., Ltd., has established a factoring agency in TEDA. Shandong Healthcare Group is a leading medical and health enterprise in Shandong Province, with eight major business including agriculture, medical care, real estate, capital, etc. Lukang Factoring plays the role as the group’s supply chain financial services platform. With the establishment of this new company, it will further promote the exploration and innovation of the integration of medical and health with supply chain finance development in TEDA, and empower the development of upstream and downstream enterprises in the industry chain.

TEDA is renowned as the “Capital of Commercial Factoring” in China. The area hosts the country’s top-quality factoring companies across various fields, including the only Factoring Innovation Base in the nation - the Tianjin Commercial Factoring Innovation and Development Base. The base has introduced various innovative measures to lower corporate taxes, expand business scenarios, enrich financing channels, and reduce financing costs. Additionally, relying on its strong industrial foundation, TEDA has successfully established a distinctive financial model of “Industry + Finance”. According to a senior executive from Lukang Factoring, the layout of factoring institutions in TEDA is due to the area’s various innovative measures and professional services in support of the development of the factoring industry.