According to the recent data from the Factors Chain International (FCI), BOC New York Branch registered a turnover of 1.488 billion Euros from its import factoring business in 2012, ranking the fourth in the world and the first among its Chinese counterparts.
Since BOC New York Branch joined the FCI in 2011, it has achieved leapfrogging development by focusing on the financial service demand of the transnational supply chain and collaborating with the domestic branches. With an emphasis on the trade between China and the US, the Branch will further explore the demand of financial services for the supply chains of the top 500 American companies and continue to provide quality financial services for Chinese enterprises in the US, with a view to strengthening its competitive edge in the factoring business.
The FCI is an authoritative, specialized organization of factors around the world. BOC now holds three seats of membership in it, which are taken by Bank of China Head Office, BOC New York Branch and BOC Hong Kong respectively. Among them, Bank of China Head Office has for many years ranked the world’s top in terms of its turnover from export factoring.
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