Velotrade completes cross border trade financing transaction

Tuesday 21 May 2019 14:24 CET | News

Account receivables financing platform Velotrade has executed cross border trade receivables transactions involving mainland Chinese companies.

 The deal involved trade financing for a transaction between a Chinese SOE and a medical equipment manufacturer, made accessible to Velotrade through the collaboration with Qianhai Financial Assets Exchange (QEX) owned by Ping An Group. The transaction gave institutional investors on the Velotrade platform exposure to accounts receivable in the PRC. According to the company, Velotrade is the first company of its type to obtain a Type 1 Regulated Activity licence from the Hong Kong Securities and Futures Commission.

Velotrade is a source of non-domestic money offering international investors on its platform an alternative channel of investment. According to QEX, through launching cross-border trade transactions of debt-based assets such as accounts receivables factoring, QEX supports One Belt One Road and the development of Guangdong-Hong Kong-Macao Greater Bay Area.

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Keywords: Velotrade, trade finance, Qianhai Financial Assets Exchange, QEX, partnership, trade financing transaction, China, Asia, APAC
Countries: World