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Reporter Wu Recently, the first national high-level seminar on import and export factoring business and market risk prevention was held in the development zone. Officials of international factoring organizations and representatives of internationally renowned factoring companies discussed the global development trend of factoring business and how to help small and medium-sized import and export enterprises solve financing problems.
According to the person in charge of the first wholly foreign-owned factoring bank in China, the biggest difference between factoring financing and bank financing is that factoring business values the production capacity of enterprises, and invoices and orders of enterprises are the main vouchers for obtaining factoring financing. Enterprises can apply for financing from the factoring bank with invoices or orders. After determining the credit status of overseas buyers, the factoring bank will give enterprises a financing limit of up to 80% of the invoice or order amount. At the same time, the business is very convenient and can be completed within 24 hours. The handling fee is generally 0.4% to 4% of the financing amount.
It is understood that factoring business is still in its infancy in China. With the liberalization of private enterprises' self-operated business last year, factoring, as a financial business that can provide financial support for export enterprises in the first time, has great room for development. According to the statistics of authoritative experts, the total amount of overseas accounts receivable of China enterprises is very large. Up to now, at least $654.38+00 billion in export revenue cannot be recovered after the deadline, and this figure is still increasing at an annual rate of about $654.38+05 billion. In 2004, China's factoring business accounted for only 0.2% of GDP, which was far from the world average of 2.5%.
Source: Daily News (Editor: Cong Qing)