China: new finance idea to help shoe manufacturers - footwearbiz: Lead

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China: new finance idea to help shoe manufacturers buy machinery

10/05/2012
A Chinese footwear machinery manufacturer has said that a new payment programme it has devised is proving popular with small and medium-sized shoe companies there.

Emma Group, a Dongguan-based supplier of cutting and design technology and machinery, has said customers responded positively to its finance idea when it presented it at a footwear exhibition in Jinjiang City recently. It has partnered with a financial institution to make it possible for footwear manufacturers to buy new machinery by paying a deposit and then a series of instalments.

Chief executive, Wang Guoquan, said the idea will work just as well as footwear manufacturers were able to apply successfully to their local banks for a loan.

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