With ten years having passed since the pilot for commercial factoring was launched in mainland China, Tradewind Finance looks back with pride on its role as one of the first foreign-funded factoring enterprises to have entered Shanghai.
After nearly ten years, the company, through its bespoke factoring products, has provided crucial working capital support for local Chinese small and medium-sized businesses to achieve growth and reduce trade risk while doing it.
In the past decade, alongside the development of commercial factoring in the country, Tradewind has witnessed China’s trade open up, and the company has been at the forefront of this shift. It has participated in momentous events like the China International Import Expo for the past four years, including the debut of the expo in 2018, and signed a cooperation agreement with Lujiazui Administration of Shanghai Free Trade Zone. This cooperation helped Tradewind bring more localized capital support solutions for Chinese import and export enterprises to expand their business globally.
Upon invitation by the Commercial Factoring Expertise Committee (CFEC) of CATIS in China, Mr. Peter Maerevoet, Global CFO and the Regional CEO for Asia at Tradewind Finance, delivered a video speech for the tenth anniversary celebration of the pilot. In it he shared his thoughts on Tradewind’s experience over the last ten years.