IBM GF expands China operations (Free)

IBMs 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. 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

By Fred Crawley

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.

“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.”