Jiang Xu of Bank of China presents the latest analysis of the Chinese market
In 1999, the two Chinese banks which offer factoring services, the Bank of China and the Bank of Communications, realized a business volume of US$31 million, an increase of 158% on the previous year’s figures. This was mainly due to the fact that the Bank of China introduced its domestic factoring service last year. In fact almost 90% of the increase was from the domestic side. For the first half of 2000, the two banks realized a business volume of US$51 million, of which Bank of China’s domestic factoring comprised 80%.
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In 1999, the two Chinese banks which offer factoring services, the Bank of China and the Bank of Communications, realized a business volume of US$31 million, an increase of 158% on the previous year’s figures. This was mainly due to the fact that the Bank of China introduced its domestic factoring service last year. In fact almost 90% of the increase was from the domestic side. For the first half of 2000, the two banks realized a business volume of US$51 million, of which Bank of China’s domestic factoring comprised 80%.