Deputy Mayor Wang Yong Investigates in Xi'an International Trade & Logistics Commercial Factoring Co., Ltd.

On August 3,2020,Wang Yong,DeputyMayor from Xi'an Municipal People's Government, accompanied by Yao Kaihui, an inspector from Xi'an Municipal People's Government, led a delegation consisting of relevant people in chargeofXi'an Municipal Bureau of Financial Work, Xi’an Municipal Office of State Taxation Administration, Xi'an Administration for Market Regulation, and the Xi'an Branch of the People's Bank of China to investigate and attend a symposium in Xi'an International Trade & Logistics Commercial Factoring Co., Ltd.(hereinafter referred to as "ITL Commercial Factoring"), to further implement General SecretaryXi Jinping's requirements for "stabilizing employment, finance, foreign trade, foreign investment,domesticinvestment, and expectations" and "guaranteeing people's employment, basic livelihood, main market players, food and energy security, stable industrial and supply chains, and community-level operations".

People from relevant departments of the Administrative Committee of Xi'an International Trade & Logistics Park and ITL Group attended the symposium.The relevant person in chargeofITL Commercial Factoring introduced in detail the operation, business model, and development direction of ITL Commercial Factoring.

Deputy Mayor Wang Yong had in-depth exchanges withattendees of the symposium on the development of the commercial factoring industry.

Wang spoke highly of the achievements of ITL Commercial Factoring and encouragedstaffof ITL Commercial Factoring to continue to work with great passion, find opportunities in risks, keep strengthening business innovation, and provide assistance for the financing of SMEs.In particular, Wang required, financial enterprises should deeply integrate themselves into the overall architecture of the co-implementation ofthe Belt and Road Initiative, and ITL Commercial Factoring should focus on the industrial development needs of Port of Xi'an and combine them with the advantages ofChina Railway Express (Chang'an) to optimize businesses and products, providefinancialsecurityforimport and export companies, and achieve the synergetic development of "transportation, trade, and finance".

Before the symposium, the delegation led by Wang Yong investigated the business locations of ITL Commercial Factoring, learning about the company's organizational structure and personnel allocation.

The investigation has helped ITL Commercial Factoring identify the direction and goals for development in the next step. As the only state-owned factoring company among the four factoring companies of Xi'an that have been put on records, ITL Commercial Factoring will keep being operated in accordance with relevant laws and regulations, resolutely adhere to the principle of "letting finance serve the real economy", make good use of the trade and logistics resources of Port of Xi'an, innovate manners of working based on risk prevention and control, and seek to provide better financial services, in order to make greater contributions to theexport - orientedeconomic development of Xi'an!