It is understood that China's commercial factoring industry has developed rapidly in recent years, playing an important role in relieving the difficult financing of SMEs in various industries such as serving the real economy, cracking chemical technology, intelligent manufacturing, etc., and reducing the leverage ratio of large enterprises. The degree of awareness and attention has been significantly improved. According to the China Association of Trade and Industry's Commercial Factoring Professional Committee, in the past six years, commercial factoring companies have provided a total of 3 trillion yuan in accounts receivable financing, and the number of SMEs they serve has exceeded 3 million. In the year of 2018 alone, it provided financing of 1.2 trillion yuan for small and medium-sized enterprises, and 1.2 million small and medium-sized enterprises benefited.
On April 17-19, 2019, the 7th (2019) China Commercial Factoring Industry Summit and the 6th Yujiapu Factoring Forum were held at the Tianjin Yujiapu Intercontinental Hotel Conference Center. As a member unit, Shanghai Jinyi is also honored to be invited to participate in the 7th working meeting of the China Service Trade Association Commercial Factoring Professional Committee. At present, the overdue accounts of the factoring industry are also rising. The theme of this forum is "pursuit of integrity, and stability for small and medium-sized, service entities." As the annual event of the commercial factoring industry, especially in the context that commercial factoring has been identified as a financial business and the regulatory structure has gradually become clear, this forum has attracted the attention of more than 400 representatives from commercial factoring companies and related institutions across the country.
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