Modern factoring industry was formed by the development and evolution of modern American commercial agency activities in the19th century. The earliest international factoring business in China came into being at 1987. International factoring has been translated in many ways in Chinese-speaking areas.
Until 199 1, the former Ministry of Foreign Economic Relations and Trade of China (now the Ministry of Commerce) organized professionals from foreign trade departments and banking departments to inspect the international factoring business in Europe, and finally decided to use the name "factoring" in China, which has been used ever since.
Conditions:
The registered capital of the company is not less than 50 million yuan, all of which are paid-in monetary capital, and the source is true and legal. The registered capital of a domestic company shall be fully paid by the investor at one time, and the payment period of the registered capital of an overseas company shall be implemented according to the existing relevant regulations.
Support powerful investors with factoring business background to set up commercial factoring companies, and promote the diversification of factoring market entities, in which foreign investors or their related entities should have factoring business performance and experience.