CEF sees great potential for factoring in China
(China Daily)Updated: 2007-01-16 10:54
China Export Finance (CEF) is an international company that provides financial support on behalf of European or US buyers, to exporters and manufacturers in China.
Headquartered in London, the service-provider taps the fledgling factoring business between the West and China and acts as an interface in providing accounts receivables purchasing and related solutions for the movement of goods produced in China.
CEF helps Chinese exporters gain direct access to EU and US customers under competitive payment terms. It also helps exporters improve their cash flow and reduce their working capital needs.
The company's CEO, Karl Alomar, told China Daily reporter Wang Zhenghua in
Shanghai about their business and his perspective on the
prospects of accounts receivable purchasing and related services in China.
Q: What exactly do you do in China and what are the unique features of your solutions compared with the factoring service usually provided by banks in China?
A: Rather than being a local factoring company we provide early payment on invoices by purchasing receivables on behalf of international buyers.
With an overseas operation, we support the buyers by providing receivable purchasing services and in turn giving them open credit terms.
CEF focuses more on small- and medium-sized enterprises (SMEs), which usually have a harder time securing comparable credit terms locally.
With a particular focus on providing significant service levels to exporters,
we create personal relationships with them, and help them create a complete
supply chain management system including documentation, logistics and other
support services.
| 1 | 2 | 3 |  |
(For more biz stories, please visit Industry Updates)