China

Tianjin Binhai New Area announced launching of 11 new financial innovative projects.

Blanco Group files for bankruptcy.

Half of all international companies in Hong Kong and 30 per cent based in mainland China are now using the renminbi (RMB) currency to conduct cross-border business, according to a survey by HSBC, which has considerable implications for connectivity, trade finance and supporting technology platforms.

Suzhou Victory Precision Manufacture and its subsidiary announce that they will enter factoring agreements with a pool of banks.

New factoring company is launched in the Tianjin Economic Development Area.

Agricultural Bank of China will focus on creating innovative SCF solution under the new 2013-2015 Product Innovation Plan.

China s cash crunch intensifies as PBOC declines to inject liquidity.

China Supply Management Survey of 821 companies reveals lower level of development of SCF programmes compared to the developed economies.

Fake invoicing inflated China's official international trade figures by around USD75 billion in the first four months of 2013, local media reported.

The Chinese steel giant Baosteel Group is exploring new territory to set up an e-commerce platform for steel trading combining an online trade financing business.