Total Factoring Assets of TEDA over ￥150 bln

Recently, Zhongjin Commercial Factoring (Tianjin) Co., Ltd. settled down in TEDA, which is established by Zhongli International Leasing Co., Ltd. with a registered capital of 50 million yuan. According to statistics, TEDA has seen nearly 20 high-quality factoring enterprises joining in and 13 factoring enterprises increasing capital by nearly 5 billion yuan this year, 18 times that of last year. Especially, the central SOEs represented by China Reform Commercial Factoring and Chengtong Commercial Factoring have been active in increasing their capital.

Since Binhai New Area was approved as the first batch of pilot areas for commercial factoring in 2012, TEDA has achieved the clustering development of factoring industry and led the country in industry development by innovating industry policies, reducing industry tax burden, initiating business model and constructing justice and other measures. Up to now, the total factoring assets of TEDA have exceeded 150 billion yuan. Among them, the number of factoring companies with central SOE background accounts for half of the country’s total, and there are more than 40 factoring companies of the Fortune 500 companies and China 500 companies.