The first in the country! The pharmaceutical traceability code without recourse factoring business has landed in Wenzhou.

Recently, under the active promotion of the Wenzhou Medical Insurance Bureau, the first non-recourse factoring business based on drug traceability codes was successfully implemented nationwide. With the true transaction records formed by drug traceability codes, China National Pharmaceutical Group Wenzhou Co., Ltd. transferred its accounts receivable from Wenzhou Medical University Affiliated Eye Optometry Hospital to China Merchants Bank Wenzhou Branch, successfully obtaining more than 9 million yuan in financing. This "buy-out factoring" model allows pharmaceutical enterprises to obtain funds in advance without waiting for repayment periods, with the bank not retaining any recourse rights and bearing the risk themselves.