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Bendigo strikes cash flow deal in China

Bendigo strikes cash flow deal in China

(26 October 2007 – China) Bendigo Bank cash flow subsidiary Oxford Funding has struck up a strategic relationship with China Merchants Bank. Oxford said the move supported its push into the Asian export and import factoring market and positioned Oxford as the preferred debtor finance partner among the Chinese bank’s customers looking to export to Australia and New Zealand.

Oxford national sales and marketing manager Rob Lamers said much of China’s staggering factoring growth was fuelled by the strong export market and the number of international manufacturers moving their business to China.

He said the factoring facilitated by Factors Chain International members in Asia Pacific had grown 20 percent over the past year and now had a total turnover of US$248 billion.

Lamers said Oxford would ensure it had the products, network and distribution channels in place to support its growth both locally and internationally.
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