COFACE Holding, an international credit insurance and credit management service provider, announced yesterday that it will launch export factoring services in China to help Chinese exporters identify reliable overseas partners and minimize risks.

The company said China has become the world's fastest-growing market for export factoring services, which include non-recourse trade financing, invoice management and credit risk control. The move was a symbol of Coface's commitment to support Chinese companies despite the current worldwide credit crisis.

China became the 23rd country where Coface can offer factoring, and its target is to reach 48 countries by the end of 2009.