Financial leasing sector boosted by series of signings in Pudong
The signing ceremony at the promotion conference.
A group of new financial leasing companies and projects have been signed in the Pudong New Area in a boost to the financial leasing sector.
Six key financial leasing companies, including Lingang Leasing, China Asset Leasing Company Ltd and Zhongyin Financial Leasing Co Ltd, signed a memorandum of cooperation with the Lingang Special Area of the China (Shanghai) Pilot Free Trade Zone and Lujiazui at a promotion conference held on Thursday.
Ten representative financial leasing companies in fields such as chip design of integrated circuit industry, eco-friendly projects and shipping, collectively signed with their clients at the conference, with the total financing amount up to 70 billion yuan (US$11 billion).
A series of policies to attract more financial leasing companies and projects were also released at the conference.
Pudong has been committed to building a business environment suitable for fostering the construction and innovation of financial leasing, one of the financial tools closely related to the physical economy.
The number of financial leasing companies has reached 1,480 and total assets were 2.2 trillion yuan by the end of 2021 in Pudong.
The increased amount of investment was more than 700 billion yuan in 2021 with over 20 percent of year-on-year growth benefiting over 12 million clients.
Among all the increasing investment, 180 billion yuan is for micro, small and medium-sized enterprises, 24 billion yuan for scientific and technological enterprises and 10 billion yuan for companies involving agriculture, rural areas and farmers.
