The history of international trade credit is almost as long as international trade itself. The original trade credit is pure commercial credit, which can be traced back to the Babylonian dynasty more than 5000 years ago.

In the ancient Roman era, the trade activities along the Mediterranean coast had developed considerably, and the financing business of various bills began to appear.

13-14th century, many commodity distribution centers and trade exchanges appeared in the European continent, and the market trade flourished, which made trade financing develop to a certain extent. During this period, the Italians invented the draft, and merchants used the draft to offset each other in the market, greatly reducing the barter trade and cash payment. Bill transactions include credit, even for spot bills, because it took time to post at that time, and most spot bills stipulated the established time limit.

17-18th century, modern banks appeared in Britain and continental Europe, and foreign exchange markets also appeared in London and Amsterdam, which made trade financing enter the stage of standardized development. During this period, some businessmen took advantage of their high reputation in the market, turned from trade to trade financing, and eventually developed into merchant banks. These merchant banks provide advance payment to producers, accept drafts drawn by other merchants, or directly buy and sell drafts generated by trade, thus reducing the risks of international trade. At the same time, the emergence of the foreign exchange market has also reduced the exchange risk.

/kloc-in the 0/9th century, Britain first completed the industrial revolution, and the pound became the main international currency, and London became the international trade and financial center. Commercial banks with international reputation gathered here, which effectively promoted trade financing, and commercial banks began to set foot in trade financing business in large numbers. The first world war led to the collapse of the gold standard, and the chaos of the international monetary system hindered the development of international trade and trade financing.

After the Second World War, the international economic, trade and financial structure has undergone fundamental changes, and the US dollar has become the main international currency and the main currency for international financing. With the intensification of international commodity market competition and the relaxation of financial control, the demand for trade financing has been greatly stimulated, and many new forms of trade financing have emerged. At the same time, in order to compete for the international market, governments all over the world directly or indirectly provide preferential credit for exports.