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On the evening of November 26, 2024, the China Commercial Factoring Industry Summit titled “Breaking New Ground for High-Quality Development of International Factoring - VTeam Night and Exclusive Sharing Session on Creating International Factoring Value” was successfully held. This event was co-organized by the Commercial Factoring Expertise Committee (CFEC) of CATIS and VTeam Group, attracting nearly 300 experts, scholars, and industry peers to attend on-site.

At the event, VTeam Group officially launched three major business cooperation models—two-factor export factoring, two-factor import factoring, and two-factor offshore factoring—to all commercial factoring institutions in China. The CFEC, VTeam Group, and other institutions jointly established the “Inclusive International Factoring Service Ecosystem Alliance.”

In his welcome address, Mr. Jiaping HAN, head of the CFEC, pointed out that 2025 is referred to as “the first year for Chinese enterprises going global.” The commercial factoring industry in China needs to accelerate innovation in international factoring models and resolve bottlenecks such as financing risk management. He hopes that VTeam Group will leverage its resources and experience in international factoring, working together with industry peers to achieve high-quality development of international factoring.

Ms. Yanling ZHANG, former Vice President of the Bank of China, emphasized in her keynote speech that under the current international situation, China's commercial factoring industry needs to “go global,” and VTeam Group & industry peers should work together to provide high-quality financial services for international trade and safeguard Chinese enterprises in their global expansion journey.

Dr. Fongtai WEN, Chairman of VTeam Group, shared VTeam’s innovative practices in international factoring during his keynote speech.

Dr. WEN stated that VTeam Group has 25 years of experience in both domestic and international factoring industries and is a member of Factors Chain International (FCI). Currently, VTeam’s financial services for Chinese enterprises’ overseas expansion cover three major phases: investigation and preparation, factory/company establishment, and business operation. The Group provides one-stop solutions for Chinese enterprises’ global development, including export/offshore trade financing, overseas project financing, overseas bank account opening, cross-border payment, and currency exchange services. It has introduced three major business models—two-factor export factoring, two-factor import factoring, and two-factor offshore factoring—and is committed to collaborating with peers in China’s factoring industry to address bottlenecks and challenges in international factoring, promoting innovation and long-term development of China’s cross-border factoring sector.

During the event, VTeam Group elaborated on the advantages and highlights of its three major cooperation models of two-factor international factoring services and intelligent process solutions for factoring business and credit risk management, while sharing successful practices and outstanding cases in two-factor model on international factoring, Chinese enterprises’ overseas expansion and other areas.

Gathering new forces for industry development, building a new international factoring ecosystem together. The “Inclusive International Factoring Service Ecosystem Alliance”, jointly initiated by the CFEC, VTeam Group, and other institutions, has officially announced its establishment. Like all rivers flowing into the sea, the alliance aims to converge industry forces to jointly promote the application of innovative two-factor international factoring models and foster high-quality development of international factoring business.

In the subsequent roundtable forum, participants engaged in a lively discussion on the theme of “New Challenges, Opportunities, and Innovations in International Factoring and Trade Finance.” The panelists unanimously agreed that under the current global economic situation, two-factor international factoring business models will inject new momentum into the development of China’s commercial factoring industry at its next stage, providing support and guarantees for Chinese enterprises expanding into global markets.

Mr. Wei LI, Secretary-General of the CFEC, concluded as the host of “VTeam Night" that this event represents a breakthrough in thinking regarding the development challenges faced by the international factoring industry amidst complex global situations. He expressed the hope that with the extensive application of the three major models of two-factor international factoring, VTeam Group and commercial factoring peers will work together to contribute to the prosperity and development of China’s international trade business.