The reporter learned from the third international factoring and supply chain finance conference held recently that since the pilot work carried out by the Ministry of Commerce in 2012, Shenzhen commercial factoring enterprises have provided more than 2 trillion financing for millions of small, medium and micro enterprises. As the source and important gathering place for the development of commercial factoring in China, Shenzhen ranks among the top in the country in terms of number, scale and activity.
urban practice: Shenzhen is the source and gathering place of commercial factoring
Since the Ministry of Commerce launched the pilot work in 2012, after nearly a decade of development, commercial factoring has become an important carrier of Inclusive Finance and financial services to the real economy. Lai qunyang, a member of the Party group of Shenzhen Municipal Bureau of local financial supervision and administration, said that as the source and important gathering place for the development of commercial factoring in China, Shenzhen ranks among the top in the country in terms of the number, scale and activity of enterprises.
Peter Mulroy, Secretary General of the international factoring Federation (FCI), shared a set of data: according to FCI statistics, the global factoring business volume recovered significantly in the first half of 2021, of which the factoring business volume according to Bank Of China Limited(601988) industry association increased by nearly 50%. He predicted that by 2030, the global factoring industry will grow to more than $10 trillion, accounting for nearly 10% of the global GDP. "Although the risk of covid-19 pneumonia still exists, factoring and accounts receivable financing are very flexible, and the prospect of factoring industry is still bright."
Yin Jiangshan, President of Shenzhen commercial factoring Association, said that by December 2021, Shenzhen commercial factoring enterprises had provided more than 2 trillion financing for millions of small, medium and micro enterprises. "Enterprises should continue to actively practice the concept of inclusive financial services and play an important role in enhancing the resilience of the real economy and stimulating the vitality of market players."
expert view: commercial factoring companies should closely follow "Digital China"
With the progress and application of big data, cloud computing, blockchain and other technologies, commercial factoring and digital technology continue to integrate.
Zhang Yanling, chairman of the 50 Member Forum of China commercial factoring (Supply Chain Finance) and former vice president of Bank Of China Limited(601988) said that commercial factoring companies are an important part of the real economy and inclusive areas. It is suggested that commercial factoring companies follow the development trend of "Digital China" and digital economy science and technology to jointly promote the high-quality development of commercial factoring.
Michael bickers, President of BCR, is also concerned about this change. "Not long ago, participants in China's accounts receivable financing market were also keen to learn business operation procedures, including technology use, from the European market. Now this position has begun to reverse, especially in the technical field, such as China's supply chain financial technology service provider lianyirong technology, which has made great achievements in the exploration and application of emerging technologies."
Wang Rui, vice president of lianyirong Digital Technology Group Co., Ltd., said that lianyirong provides customers with supply chain financial technology solutions by improving the liquidity of buyers and suppliers, providing low-cost financing for small and medium-sized enterprises and providing high-quality assets for financial institutions, Create a tamper proof and traceable digital voucher for primary suppliers to the accounts receivable of core enterprises. Suppliers in the supply chain can be used as a blockchain driven intelligent platform for payment and financing.
Guangdong enterprise practice: pay more than 3 billion yuan for 270000 riders
During the forum, the bay area commercial factoring and supply chain financial technology innovation cases in 2021 were also released. It can be seen from the cases that enterprises continuously improve their service capabilities through innovative product models, help small and micro enterprises reduce costs, finance and help core enterprises tap credit value.
Asia factoring (Shenzhen) Co., Ltd. has created flexible labor factoring products in combination with artificial intelligence, blockchain, big data and other technologies to provide salary advance services for takeout logistics partners, with a cumulative salary of about 270000 riders of more than 3 billion.
Lianyirong Digital Technology Group provides a platform built by lianyirong for customers and their suppliers with a distance of more than 1600 kilometers to realize the full line of financing application operation. The funds arrive on the same day. The suppliers lend 20 minutes after holding the digital certificate for financing, so as to accurately and efficiently solve the financing needs of enterprises.
Excellent innovation cases summarize the experience of high-quality development of commercial factoring and supply chain fintech enterprises, highlight the achievements of industry service entities and small and micro enterprises, and make outstanding contributions to the accumulation of successful experience in the field of commercial factoring and supply chain fintech.
