Shanghai Pudong Development Bank-Factoring Services

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Factoring Services

	SPDB officially became a member of Factors Chain International (FCI) at the 33rd Annual Conference of FCI, the sixth Chinese bank to gain such membership (the other five being Bank of China, Bank of Communications, Everbright Bank, CITIC Bank and China Construction Bank). Consequently, SPDB offers flexible factoring services to its clients. The past three decades has witnessed the dramatic development of factoring businesses all over the world (especially in Europe and North America), thanks to the rapid growth of domestic and international trades. By the end of 2002, the worldwide factoring businesses amount to 749.8 billion EUR, 66.4% up from the 450.6 billion EUR in 1998. Though it was only recently that China started to launch factoring services, they have been developed very fast, increasing from 11 million EUR in 1998 to 2.27 billion in 2002, or up 150.33%. SPDB was the among the first to launch factoring service without recourse and repurchase-type factoring service in China market. If you are the seller in a domestic trade, SPDB may offer you comprehensive financial services, including pre-payment of receivables, account management, collection services, or taking over the credit risks of the buyer etc. In addition, if you are an exporter, SPDB may offer you a whole package of factoring services, composed of trade finance, account management, collection services, bad debts guarantee services within an verified credit line of the importer and so on. If you are an importer in an international trade, we may offer you risk management services and bad debts guarantee services etc. With a complete set of internal control rules and procedures in place, SPDB has sped up its IT construction and is introducing an advanced factoring business system. As a FCI member, SPDB is determined to adapt to the international best practice and strengthen the exchanges and cooperation with world-famous factors so as to further improve our services to the clients. You are welcome to inquire at any SPDB branch for our factoring services.

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