The China Banking Regulatory Commission (CBRC) has said it will
approve 10 more banks to set up financial leasing companies within
the next two years.

Shanghai Securities News cited a senior official at the
CBRC, saying that the financial leasing companies will be set up to
help finance SME companies.

Chen Oiong, deputy director of the non-banking regulatory
department at the CBRC said that since Beijing revised regulations
in 2007, six Chinese lenders, including Industrial & Commercial
Bank of China and China Construction Bank Corporation have launched
financial leasing firms.

China’s 12 financial leasing companies posted combined assets of
¥94.8 billion (€10 billion) at the end of May. According to the
CBRC’s report, companies focused mainly on machinery equipment,
airplanes, power equipment and shipping.

Jason T Hesse

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