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

US EUROPE AFRICA ASIA 中文
Business / Companies

Morgan Stanley, China Fortune plan JV

By Gao Changxin in Shanghai (China Daily) Updated: 2012-04-19 13:19

Morgan Stanley and China Fortune Securities Co Ltd plan to set up a financial leasing joint venture, to enter a sector that has been growing by at least 50 percent annually in China.

Jiang Songtao, vice-president of State-owned INESA Holding Group, parent of China Fortune Securities, made the comment on Wednesday on the sidelines of a conference in Shanghai.

However, he didn't give details on where and when the new venture will be set up.

Financial leasing is a type of leasing where a lessor buys and owns an asset during a lease and a lessee pays to use that asset and has the option of buying the asset when the lease expires.

"We are looking closely at the country's financial leasing industry and will enter the sector in the near term," Jiang told China Daily.

China Fortune Securities is also known as Huaxin Securities.

Jiang's comment came after the two sides formed a securities joint venture last year, Morgan Stanley Huaxin Securities Co Ltd, that focuses on underwriting yuan-denominated stocks and bonds for small-cap companies in China.

Huaxin Securities holds a two-thirds stake in the 1-billion-yuan ($159 million) securities venture, with Morgan Stanley holding the remainder. They also jointly run an asset management venture, Morgan Stanley Huaxin Fund Management Company, which was founded in 2008.

Asked how the securities venture fared over the past year, Jiang said it is "gaining momentum and will see an uptick this year".

He added the venture would benefit from Morgan Stanley's global network, brand and talents.

Morgan Stanley's venture into financial leasing underscores the sector's explosive development in China over the past few years.

The industry's assets grew about 25-fold over the past five years. As of the end of 2011, the nation had more than 260 financial leasing companies with a contract balance of more than 700 billion yuan, according to the Ministry of Commerce.

Last year, 17 financial leasing companies set up by banks earned about 6.4 billion yuan in profit, up 78 percent year-on-year, according to the China Banking Regulatory Commission. The sector as a whole received 98 percent of its due rentals, indicating its assets are in good shape.

The rise of the financial leasing sector benefits from strong demand from small and medium-sized enterprises.

In China, the banking industry is reluctant to lend to SMEs, which typically have few assets. SMEs are more likely to get funded through financial leasing as leasing companies can take back the leased asset if they fail to find a lessee.

gaochangxin@chinadaily.com.cn

Hot Topics

Editor's Picks
...
...
主站蜘蛛池模板: 亚洲国产成人精品综合99 | 久久91久久| 精品一区视频 | 国产免费久久久 | 伊人春色在线 | 久久国产免费 | 亚洲综合成人在线 | 伊人365| 国产一级片久久 | 极品毛片 | 亚洲 欧美 中文字幕 | 少妇高潮一区二区三区99 | 久久精品无码一区二区三区 | 日日躁夜夜躁 | 超碰97观看| 九九热久久免费视频 | 日本激情视频网站 | 4438全国成人免费 | 色综合天天操 | 国产中文字幕在线视频 | 成人国产片女人爽到高潮 | 最新中文字幕av专区 | 国产视频二 | 国产男女精品 | 亚洲色图av在线 | 日本另类 | 男人视频网 | 欧美另类综合 | 黄色大片免费观看 | 成人va视频| 免费成年人视频 | 99九九视频| av网站免费在线看 | 日本三日本三级少妇三级66 | 成年人视频网 | 久久午夜网 | 国产 日韩 欧美 精品 | 你懂的在线免费观看 | 日本成人一级片 | 国产一级片子 | 免费天堂av |