日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

Economy

Markets

Industries

Insights

Reports

Events

Minsheng moves into leasing biz

By Hu Yuanyuan (China Daily)
Updated: 2008-04-18 10:01

China Minsheng Banking Corp, the country's seventh largest bank by market value, today established a financial leasing company to capitalize on China's leasing business' huge growth potential.

With a registered capital of 3.2 billion yuan (about $457 million), the Tianjin-headquartered company is one of the country's largest financial leasing firms.

Minsheng took an 81.25 percent share of the company with a 2.6 billion yuan capital injection, and the investment arm of Tianjin Free Trade Zone took the remaining stake.　　

Minsheng Financial Leasing Co Ltd will focus on equipment leasing - aircraft, ships and construction equipment - in hopes of improving enterprises' capital liquidity.

"The establishment of the leasing company is part of Minsheng's strategy to develop a diversified and international business approach," the bank's vice-president Hong Qi said.

The Chinese Banking Regulatory Commission last March lifted a decade-long ban on commercial banks' investments in financial leasing companies.

The industry regulator has given other major banks, including China Construction Bank and Industrial and Commercial Bank of China, the nod to found financial leasing companies. Bank of China, the country's second largest lender, bought Singapore Aircraft Leasing in 2006.

Yang Boqin, a senior official with Shanghai Ronglian Finance Leasing Share Co Ltd, said about 30 percent of large operating equipment, including aircraft and ships, are leased in the United States, compared to only 3 percent in China. This indicates huge market potential.

CBRC Vice-Chairman Cai Esheng said more qualified banks would be allowed to set up financial leasing companies according to actual needs.

"Compared to other leasing companies banks imitate, Minsheng chose a non-bank enterprise as a partner to ensure its independent operation," President of Minsheng Financial Leasing Co Ltd Kong Linshan said. "And we would also hope to serve small and medium-sized companies."

Minsheng Financial Leasing could benefit from the Binhai New Area's preferential policies. China has listed the area in its 2006-10 development plan and hopes it would become the country's third economic engine, along with Shenzhen and Shanghai's Pudong area.