Another SOE Reinvests ￥ 1.4 bln in TEDA

Recently, Chengtong Commercial Factoring Co., Ltd. increased its capital by RMB1.4 billion in TEDA, with its registered capital increased to 2 billion yuan. Chengtong factoring is one of China’s two largest state-owned capital operation platforms, the factoring operation company of China Chengtong Holding Group Co., Ltd., which settled in TEDA in 2018. At present, the enterprise has realized the operation of three platforms, namely, big data precision marketing, big data credit enhancement and big data asset securitization, forming an inclusive financial system throughout the industrial chain. After the reinvestment, the company will continue cultivating in TEDA, accelerate the development of various innovative factoring businesses, and continuously develop the domestic market.

TEDA is the first batch of pilot cities for commercial factoring in the country and owns half of the factoring companies of SOEs. Since the beginning of this year, central enterprises factoring companies such as CRRC Factoring and China Energy and Chemical Industry Factoring have increased the investment in TEDA one after another. At the same time, a number of SOEs and China’s top 500 enterprises have launched commercial factoring projects here, which fully demonstrate the strong aggregation and leading role of the regional factoring industry.