Feedback from CBA-FCI “Conference on Legal Issues in Factoring”, Beijing, 17 October 2018Friday 2 November 2018
FCI, the Chinese Banking Association (CBA) and the China Postal Savings Bank jointly organized a Conference on “Legal issues of factoring”, at Beijing, China on 17 October 2018.
The event was attended by nearly seventy (70) participants, including experts from the Supreme People's Court of China, the local High-level People's Court, Commercial banks, members of the FCI Legal & Education Committee, delegates from the China Service Trade Association Commercial Factoring Committee, as well as senior industry lawyers from China and abroad.
The Conference focused on the legal framework and its role in the development of domestic and International Factoring in China. The issue was discussed and analyzed in depth.
Mr. Pan Guangwei, Party Secretary and Full-time Vice Chairman of the China Banking Association, Mrs. Yao Hong, Vice President of China Postal Savings Bank, Mr. Peter Mulroy FCI Secretary General delivered speeches highlighting the importance of a factoring legal framework to further support the development of Factoring in China. Mr. Bai Ruiming, deputy secretary general of the China Banking Association, presided at the meeting.
Moreover, International Legal & business experts presented best law practices from various countries & regions, highlighting the importance of a Factoring Law as well as the importance of prudent and efficient risk control mechanisms in Banks and Factoring companies.
The post-Conference feedback was very positive both the legal and banking representatives appreciated the input and information presented during the event. It is expected that all issues discussed will be further analyzed and best practices will be adopted.