300-million-yuan Investment Increment from Sinochem Factoring

Sinochem Commercial Factoring Co., Ltd., an enterprise in TEDA, increased its capital by 300 million yuan to 600-million-yuan paid-in registered capital. Backed by the core position of Sinochem Group in energy, chemical industry, agriculture, real estate and other industries, and based on the strategic background of the merger of Sinochem Group and Chemical Group, Sinochem Factoring provides targeted financial services for upstream and downstream customers in the two groups’ industrial chain. In 2020, Sinochem Factoring paid taxes of 65.4883 million yuan.

As the first batch of pilot cities for commercial factoring in China, after years of development, TEDA has been recognized by the industry as the area with the most concentrated commercial factoring institutions and the most active innovative business, and it is an important source of industry innovation. In the future, TEDA will leverage the advantages of finance and technology, promote commercial factoring to carry out disruptive innovation breakthroughs, and promote more enterprises to invest in the region.