International Factoring 国际保理.pdf

The Study of International Factoring Business in the Process of Financing at the Front End of Supply Chain[1] ————Based on Chinese Small and Medium-sized Export Manufactures ———— Li Li[2], Geng Wei[3] Business School, Nankai University, P.R.China, 300071 Abstract: Based on the background of economic globalization, the development of global supply chain and the opening of entire Chinese money market, the thesis chooses Chinese small and medium-sized export manufactures as its object. By analyzing from the theory and the practice, the thesis studies how to apply the innovative re-compounding of finance products to the financing process of Chinese small and medium-sized export manufacturers, who are in the inferior position in the whole supply chain, discusses how to take advantages of the financing functions of international factoring at the front end of supply chain to solve the problems that Chinese small and medium-sized export manufacturers are not able to develop manufacturing smoothly because of capital shortage after they get international orders. Key words: international factoring; small and medium-sized export manufactures; the front end of supply chain 1 Introduction As logistics is more and more well-known, the efficiency of material flow and information flow has been greatly improved and the supply chain has quickly developed. In the field of global supply chain, the enterprises in the leading position in the supply chain are always those Multinational Corporation with ample capital, whose suppliers and distributors, scattered in different countries and territories all over the world, are in the inferior position in