Which regulatory department does commercial factoring belong to?

Legal Analysis: The regulatory body of commercial factoring is China Banking Regulatory Commission. In order to standardize the business behavior of commercial factoring enterprises, strengthen supervision and management, compact supervision responsibility, prevent and resolve risks, and promote the healthy development of commercial factoring industry, China Banking Regulatory Commission recently issued the Notice on Strengthening Supervision and Management of Commercial Factoring Enterprises (hereinafter referred to as the Notice) in accordance with the principle of "problem-oriented, urgent need first".

Legal basis: Interim Measures for the Administration of Factoring Business of Commercial Banks

Article 2 Commercial banks established in People's Republic of China (PRC) according to law shall abide by these Measures when engaging in factoring business.

Article 3 Commercial banks should follow the principles of legality, compliance, prudent operation, equality, voluntariness, fairness and good faith when conducting factoring business.

Article 4 Commercial banks should properly handle the relationship between business development and risk management when they start factoring business.

Article 5 The China Banking Regulatory Commission and its dispatched offices shall supervise and manage the factoring business of commercial banks in accordance with these Measures and relevant laws and regulations.