Financial Leasing Plays a Unique Role in Supporting Small and Micro Real Economy Enterprises

2013-11-25 510 0人评论
      A responsible person from the Ministry of Commerce stated at the recent special press conference on 'pawn, auction, and leasing' that after years of development, China's financial leasing enterprises have maintained steady improvement in efficiency while rapidly growing asset scale. Against the backdrop of slowing economic growth, the financial leasing industry will play a more important role in supporting the real economy, especially the development of small and micro real economy enterprises.

  Financial leasing refers to an economic activity in which the lessor, based on the lessee's selection of the seller and the leased property, purchases the leased property from the seller and provides it to the lessee for use, while the lessee pays rent. In essence, it achieves the purpose of financing through the leasing of physical assets. This attribute of financial leasing gives it unique advantages in supporting the development of the real economy.

  Data shows that by the end of 2012, the 241 domestic and foreign financial leasing enterprises registered and operating under the supervision of the Ministry of Commerce employed 12,936 people at year-end, an increase of 5.89% over the previous year. Total assets reached 1,471.07 billion yuan, a year-on-year increase of 45.22%, and the total financial leasing assets amounted to 381.63 billion yuan, a year-on-year increase of 140.58%.

  Unlike bank loans, financial leasing uses actual leased property as the carrier and has the dual attributes of financing and leasing. It can ensure that funds directly enter the real economy and are not diverted for other purposes, thereby effectively promoting the direct flow of funds to the real economy and reducing the phenomenon of idle funds circulating outside the real economy.

  According to reports, against the backdrop of overcapacity in the manufacturing industry and increasing sales difficulties, 'lease first, buy later' and financial leasing with low one-time investment have become important ways for Chinese manufacturing enterprises to promote product sales, helping them quickly sell products and recover payments. At present, most of China's major construction machinery manufacturers, automobile manufacturers, and sellers have sold their products through financial leasing companies.

  For small and micro enterprises with limited strength, financial leasing helps their development under the current economic situation. In recent years, financial leasing companies have played an increasingly important role in broadening funding sources for small and medium-sized enterprises. For example, from the first to the third quarter of 2013, Hebei Pangda Leasing Company provided approximately 2 billion yuan in commercial vehicle financial leasing services to small and medium-sized enterprises and individual businesses, accounting for about 70% of its total business.

  "Because many pieces of equipment require huge amounts of capital, financial leasing plays a positive role in helping small and medium-sized enterprises quickly obtain needed equipment and reduce the pressure of one-time payment, and the promotional function of financial leasing is further highlighted," said Zhang Shudong, deputy inspector of the Department of Circulation Development of the Ministry of Commerce.

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