-
Important news
-
News
-
Shenzhen
-
China
-
World
-
Opinion
-
Sports
-
Kaleidoscope
-
Photo Highlights
-
Business
-
Markets
-
Business/Markets
-
World Economy
-
Speak Shenzhen
-
Leisure Highlights
-
Culture
-
Travel
-
Entertainment
-
Digital Paper
-
In depth
-
Weekend
-
Lifestyle
-
Diversions
-
Movies
-
Hotels
-
Special Report
-
Yes Teens
-
News Picks
-
Tech and Science
-
Glamour
-
Campus
-
Budding Writers
-
Fun
-
Futian Today
-
Advertorial
-
CHTF Special
-
FOCUS
-
Guide
-
Nanshan
-
Hit Bravo
-
People
-
Person of the week
-
Majors Forum
-
Shopping
-
Investment
-
Tech and Vogue
-
Junior Journalist Program
-
Currency Focus
-
Food Drink
-
Restaurants
-
Yearend Review
-
QINGDAO TODAY
在线翻译:
szdaily -> Business -> 
Fintech firm aims to bridge mainland SMEs with overseas investors
    2019-05-23  08:53    Shenzhen Daily

Chen Xiaochun

654789759@qq.com

IN February this year, Velotrade, an account receivables financing platform headquartered in Hong Kong, partnered with the Shenzhen Qianhai Financial Assets Exchange to execute its first cross-border trade receivables transaction involving a company on the mainland.

“The transaction involved a hospital which bought medical equipment from this small supplier of medical equipment on the Chinese mainland. The term was 90 days. So this meant that the supplier — without Velotrade — was not able to get the money upfront to pay its rent and salary. The investors were from Hong Kong,” explained Gianluca Pizzituti, co-founder and CEO of Velotrade, adding that the 1-million-yuan (US$145,000) transaction serves as a small test case for them.

Velotrade has opened the door for foreign institutional investors to Chinese trade receivables. “So before this partnership, for corporations on the mainland to obtain working capital, there was just the domestic market. It was very difficult for them to go outside of the mainland to get offshore financing. Likewise, it was also very difficult for overseas investors to get exposure to transactions on the mainland because of capital restrictions and the sort,” Pizzituti told the Shenzhen Daily.

The fintech company partnered with the Qianhai financial assets exchange for its ability to transfer assets cross-border, while the fintech company itself enjoys strong distribution capabilities.

With a seasoned international background in trade finance and financial services, the co-founders know that since the financial depression, there has been so much money in the market and fund managers are desperate to find high-yield assets.

“On the one hand, there are corporations that are desperate to get financing. On the other hand, there’s this massive amount of liquidity that is looking to be employed. So we built the platform to have the liquidity flow through it and through the Qianhai financial assets exchange, to corporations that desperately need it,” said Vittorio De Angelis, co-founder and executive chairman of Velotrade.

深圳报业集团版权所有, 未经授权禁止复制; Copyright 2010, All Rights Reserved.
Shenzhen Daily E-mail:szdaily@szszd.com.cn