China's experience in modern factoring services is being studied

At the invitation of the International Finance Corporation, a delegation headed by the Deputy Chairman of the Central Bank of the Republic of Uzbekistan visited the People's Republic of China in order to study advanced foreign experience in modern factoring services.

On the first day of the visit, a practical seminar was held on China's market of movable asset financing services. During the seminar, the reforms carried out in the last 20 years for the development of the market of financing services based on movable assets in China were closely introduced.

Also, special electronic platforms providing financing services based on movable assets (Warehouse Finance Platform, Receivables Finance Platform, SCM Platform) and their working mechanisms were explained to the members of the delegation.

In addition, during the visit, opportunities created by the Credit History Bureau of the People's Bank of China to provide electronic factoring and reverse factoring services with the introduction of modern technological solutions are also being studied.