Heavyweight Commercial Factoring Summit Opened in TEDA

The 12th China Commercial Factoring Industry Summit and the 11th Yujiapu Factoring Forum opened in TEDA on November 27, 2024. As the largest and most influential annual event in the commercial factoring industry, this summit focused on identifying and responding to the challenges faced by the industry. It brought together 500 outstanding representatives from commercial factoring companies and related institutions from across China to offer insights for the industry’s development.

During the summit, the Commercial Factoring Talent Training Base, the Urban Supply Chain Finance Forum 50, and the China Enterprise Credit Forum 50 were launched in TEDA. The China Commercial Factoring Industry Development Report (2023-2024) and related sub-reports, along with the 2024 Commercial Factoring Industry Group Standards were released.

In recent years, TEDA has made full use of its Free Trade Zone as an important platform for opening-up to drive the clustering of the factoring industry, positioning itself as a national leader in the sector. With the support of the Tianjin Commercial Factoring Innovation Development Base, TEDA has introduced 30 favorable policies over the past three years to support the industry and is set to launch a fourth batch of policies. During this period, the Base has created 15 pioneering national models and released 9 national industry group standards. TEDA’s new model of full chain service in commercial factoring has been recognized as one of the “Best Practice Cases” in China’s Free Trade Zones and was promoted nationwide. Looking forward, TEDA plans to further enhance policy innovation, deepen digital transformation, and expand international business to explore new international factoring models. Meanwhile, risk management will be strengthened to drive the high-quality development of the commercial factoring industry.