Sumitomo to set up in China

Japanese yellow goods producer Sumitomo Heavy Industries is to open a machinery leasing company in China. The new company will be based in Shanghai and will be set up with $20m (13.9m) of capital. The new leasing company will offer financing for construction machinery in order to keep up with growing local demand.

Japanese yellow goods producer
Sumitomo Heavy Industries is to open a machinery leasing company in
China.

The new company will be based in
Shanghai and will be set up with $20m (€13.9m) of capital.

The new leasing company will offer
financing for construction machinery in order to keep up with
growing local demand.

Leasing in China was previously offered by Sumitomo with the
assistance of local financial institutions.

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