For example, the national trading companies in China were established to specialize respectively in machinery, instrument, chemical products, textiles, silk, medicine, minerals, metals, edible oil, cereals and foodstuffs import and export. As the economy evolves, such segmentation increasingly became out of place in a market economy, nor was it contributing to competitiveness. In the financial sector, market demand for financial products has also changed.
There is no single common point in the arrears resolution process where engagement between a firm and a borrower breaks down. However, based on our review of some firms’ contact management strategies and operations, we do believe that some lenders can do more to make sure that borrowers can engage more easily with them. It is evident that better continuity of contact (i.e.