IBM’s finance arm has signed a deal with the Chinese government
to provide credit to companies working in the Tianjin economic
development zone in China.

Late in 2009, the government of Tianjin gave IBM Global
Financing an exclusive license to provide factoring products in the
Tianjin Binhai New Area.

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“One of the keys to economic recovery is the successful
partnering of private and public sectors,” said Mario Bernardis,
general manager for worldwide commercial financing at IBM Global
Financing.

“This new partnership with IBM Global Financing and the Tianjin
Government will bring great benefits to businesses looking to speed
up the conversion of their invoices to cash. We are grateful to the
Tianjin Administrative Bureau of Industry and Commerce for granting
IBM this factoring license – a first of its kind in
China.” 

Fred Crawley

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