CIT Commercial Services, a unit of CIT Group Inc., has announced the opening of a representative office in Shanghai, China. The new office, CIT Commercial Services - Pan Pacific, Ltd., will serve as a factoring resource for Chinese exporters that distribute goods to the United States. CIT Commercial Services is a leading provider of factoring, accounts receivable management, credit protection and lending services, and is one of the first US-based factoring companies to open an office in China. The Shanghai office will provide information and consulting for Chinese exporters about the features and benefits of factoring. Factoring is the leading service used by US manufacturers seeking to minimise bad debt losses, according to a recent survey by CIT Commercial Services.
