Asia’s First Aviation Factoring Company Settles down in TEDA

Recently, Southern Pearl (Tianjin) Commercial Factoring Co., Ltd., a subsidiary of China Southern Air Holding Company (CSAH), has been approved and gotten the business license. The company supported by a enterprise directly under the central government officially settled down in TEDA.

As an important part of the supply chain finance sector of CSAH, Southern Pearl Factoring will rely on the advantages of “finance+technology” in TEDA to provide  supply chain finance solutions for the upstream and downstream of aviation industry and build a leading supply chain finance service platform for China’s aviation and tourism.

In recent years, making commercial factoring as one of the most important innovative financial development categories, TEDA has launched a series of important measures in industry development, policy innovation, judicial environment and tax collection, and has established the only “Tianjin Commercial Factoring Innovation and Development Base” in Binhai-Zhongguancun Science Park, Tianjin. At present, TEDA has developed into a place with the most concentrated factoring companies of enterprises directly under central government and the most active innovative business in China. The number of companies accounts for more than half of the country, and the business size accounts for more than 15% of the country; the penetration rate of factoring business to GDP is nearly 10%, which is much higher than the national average. In 2020, a number of high-quality commercial factoring projects such as SAIC Motor, Shandong Energy Group and Huaxin Group, have successively settled down in TEDA; China Reform Factoring and SAIC Factoring completed capital increase.