| International factoring is one of comprehensive financial service, which contains services of trade finance, business credit investigation, management of receivables and credit risks guarantee. It has been widely used and rapidly developed in the international market recent years due to its function of solving the problems of deposits and buyer's credit risks. In the global scope, international factoring has already been comparatively mature, but it is just at its starting stage of development in China and has very limited effects and a small scale here. The thesis analyses the problems existed in Chinese international factoring and proposes relative recommendations on how to develop the international factoring in China.To make a better research and analysis, the thesis begins with a brief illustration of the functions, characteristics, and the operation pattern of international factoring, and also states that it is both the necessary outcome and the power for the development of international trade and it is also an advanced financial product. Through an empirical examination, we finds out the situation and specialty of the development of international factoring in China, then points out that there are two main problems, one is pricing, the other is the survival environment of factoring in our country including problems of the demand part as well as the supply part, the mismatch of law and lack of credit in our society. Then this paper makes a further study in pricing and the survival environment of international factoring respectively. Especially, we use the Adverse Selection Model to explain why the price of international factoring is much higher then normal and establish a pricing model of international factoring by using the Game Theory. In the final part, the paper puts out tactics and measures to solve the problems including improving banking systems, concept of foreign trade companies, social credit systems and relative laws, etc. |
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