CHINA WELCOMES BARTER
On the 23rd of June, the president of Chinese Academy of Corporate Finance Mr. Gong Yuhang has officially launched the first Business Institution specializing in Barter in China.
Chinese Academy of Corporate Finance is recognized and supported by the Ministry of Industry and Information Technology of the People’s Republic of China (MIIT), their mission is to educate the SMEs with their professional finance knowledge to help companies develop into a more corporate and advanced business level.
Mr. Gong says,” Virtual currency is the trend of future economic development. Trade dollars, as a form of virtual currency, have highlighted the core value of the barter business model; this will bring unlimited development opportunities in business innovations. Nowadays the liabilities problem has become a major issue for China; the total debt amount exceeds over 50 trillion between business to business - B2B in China. Many people have tried different ways to solve this problem; however, there is no significant result so far. After careful research and analysis of the Barter platform, we believe this can help the companies in China solve the debt issues effectively in a much more practical way”.
Isn't it comforting to know the 2nd largest economy in the world is preparing itself for cash less alternatives. B2B Barter will be expanding to asia in the near future.