China Economic ReviewA reframing of the regulatory rules for the insurance industry promises to bring real benefits for insurance providers and policyholders alike. Arevised version of China's Insurance Law took effect on January 1, 2003. The amendments to the law – likened to a new year's resolution – received the imprimatur of the National People's Congress Standing […]
Factoring is a financing method whereby firms can speed up the collection of accounts receivable by assigning invoices to a third party factor. It is fast gaining popularity in mainland China, where late payment and bad debts are major concerns for companies. Last year, the number of Chinese banks advertising factoring services increased from two […]
While most interest among foreign banks is in developing export factoring, the deal that did most to publicise factoring in China last year involved slow moving receivables on the domestic market. In fact, the transaction did not actually represent a true factoring deal. Jiangsu-based joint venture Nanjing Ericsson had repaid US$240m-worth of loans borrowed from […]
The World Bank is set to offer China US$1.2bn annually over the next three years, more than double the amount China received over the past two years. The bank said the money would be made available to help improve the climate for investment, speed the transition to a full market economy, clean up the environment, […]
Loans of up to Yn20,000 will be available to those without jobs to help them set up their own businesses, AFP reported. The People's Bank of China said the finance and labour ministries and the State Economic and Commerce Commission had jointly directed the central bank to allow commercial banks to approve loans for those […]