Dec 07, 2020 09:17 PM (GMT+8) · EqualOcean
The China Banking Association recently released the report on the development of China's factoring industry (2019-2020). Statistics show that in 2019, the factoring business volume of all members of the factoring professional committee was 1.75 trillion yuan, a year-on-year decrease of 8.85%. Among them, the international factoring business volume was US $26.476 billion, a year-on-year decrease of 25.30%, and the decline rate was narrower than that of the previous year; the domestic factoring business volume was 1.56 trillion yuan, with a year-on-year decrease of 7.14%.