Tradewind Exhibits at CIIE in Shanghai and Hosts Event to Introduce Supply Chain Finance Product
The world’s first import-themed national exhibition debuted in Shanghai on November 5, 2018 as an active step by China to further open the Chinse market to the international business community and other investors. Tradewind was pleased to participate in the five-day affair, called the China International Import Expo, and separately hosted a dinner on November 7 at the Cordis Hotel Shanghai to introduce its supply chain finance product to an audience of government officials, heads of large state-owned enterprises, exporters, and buyers.
CIIE, held at the National Exhibition and Convention Center, symbolized the Chinese government’s nod of approval for trade liberalization and promoted economic cooperation as well as global trade among nations. For its part, Tradewind invited industry friends, partners, and several businesses to the inaugural event, including reputable European buyers, such as EWM, OVS, Puma, Zara, ASOS, and KIABI; exporters from Africa; and clients from Hong Kong and Shanghai.
At the dinner on November 7, Tradewind’s Executive Director and founder Ansgar Hütten delivered a welcome speech that expressed what a pleasure it was for the firm to serve as the financial partner funding all aspects of trade for Chinese companies. It also discussed the firm’s new supply chain finance offerings that can help Chinese SMEs by improving cost efficiency and reducing risk along global supply chains.
The dinner aimed to encourage conversation among the various suppliers, buyers, and other industry professionals gathered at the event, in the hopes to connect on potential business opportunities.
Other notable figures in attendance at the dinner included Mr. Jason Huang, Vice President of the Shanghai Import and Export Chamber of Commerce, and Mr. Bin Fang, General Manager of Sinosure Shanghai. Both Huang and Fang took the podium as well.
Tradewind entered the Chinese market in 2013, providing mainly export factoring to small and medium-sized businesses there. It is now actively expanding its product offerings to include additional trade finance solutions such as full supply chain finance.
A shortage in cash is a common problem for many Chinese importers who must pay in full before suppliers ship their products. Accessing financing can be difficult in China as well, and banks often pose harsh regulations and do not offer the flexibility Tradewind does.
China is the world’s second largest economy and second largest importer. For those importers and other SMEs facing cash flow problems, Tradewind is able to finance based on receivables and payables, providing liquidity in whatever foreign currency is needed to companies who are lacking the capital to grow their business and expand into new markets. Its supply chain finance product ensures early payment to overseas suppliers so they can deliver their products to Chinese buyers, in full and on time.
As China opens its doors to more foreign businesses, Tradewind looks forward to deepening its long-term ties in this market and leveraging its trade finance tools to help facilitate global trade and assist Chinese companies with their cash flow needs all along the supply chain, from raw materials to retail.