DS-Concept leads Asia’s international factoring charge
DS-Concept’s move to Shanghai in 2013 made it the first truly international factoring company in China and this was furthered in 2014 by the opening of our Hong Kong office to expand our Asia-Pacific presence.
In terms of cross-border trade volume, Asia accounts for 46% of the world total and China is by far the biggest constituent of that, with a volume of more than $487 billion. According to the FCI 2014 annual report, China accounted for 38% of FCI factor exports and 13.14% of imports in 2014.
By opening an office in China, we are much better positioned to finance raw materials and our global network of has meant we are able to work our way up the supply chain to suppliers in China seeking working capital.
From China, we have been able to finance a lot of our clients’ South East Asian factories as lower wages continue to shift production to countries like Bangladesh, Cambodia and Vietnam.
An example of this is one of our Chinese clients selling apparel to the EU. With production in three factories in Bangladesh and raw materials being sourced in Pakistan and China, both of which DS-Concept has offices in, we finance the complete supply chain from fabric to branded apparel. We have created custom solutions, financing the goods whether they are drop shipped from the Bangladeshi factories or from the firm’s Chinese headquarters.
The number of Chinese domestic factoring companies rose from 19 in 2011 to 1,200 in 2014. This increase has turned more businesses into potential clients as they now have the possibility, due to increased working capital, of expanding into new markets. These domestic factors have been and will continue to be a great asset for DS-Concept.
The DS-Concept Group maintains a network of offices and affiliates all over the world, including USA, Bulgaria, Hungary, Turkey, Pakistan, Bangladesh, Spain, UK, China and the United Arab Emirates as well as the headquarters in Germany.
Combining credit protection, collections and financing into a single suite of trade finance products, DS-Concept brings streamlined, flexible and best-in-class services to the world's exporters.