Recently, under the active impetus of the Wenzhou Municipal Health Insurance Bureau, the country's first non-recourse factoring business based on drug traceability codes was successfully implemented. Sinopharm Holdings Wenzhou Co., Ltd. transferred its accounts receivable from the Ophthalmology Hospital affiliated to Wenzhou Medical University to the Wenzhou branch of China Merchants Bank using real transaction records formed by drug traceability codes, and successfully obtained financing of more than 9 million yuan. This “buyout factoring” model allows pharmaceutical companies to obtain funds in advance without waiting for the repayment period. Banks do not reserve recourse rights, and banks bear their own risks.

Recently, under the active impetus of the Wenzhou Municipal Health Insurance Bureau, the country's first non-recourse factoring business based on drug traceability codes was successfully implemented. Sinopharm Holdings Wenzhou Co., Ltd. transferred its accounts receivable from the Ophthalmology Hospital affiliated to Wenzhou Medical University to the Wenzhou branch of China Merchants Bank using real transaction records formed by drug traceability codes, and successfully obtained financing of more than 9 million yuan. This “buyout factoring” model allows pharmaceutical companies to obtain funds in advance without waiting for the repayment period. Banks do not reserve recourse rights, and banks bear their own risks.