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Ten years of hard work with steadfast target—Keynote speech of Chairman Zhou Wei at the Fourth Global Leasing Industry Forum
Yan Qingmin, Vice Mayor of Tianjin Municipaly, attended the forum and delivered a speech. He pointed out that the national financial work conference held in July gave the direction of transformation and development of financing lease industry in our country, the new regulatory environment draws the boundaries, standardizes the order for the leasing industry, and new opportunities also contain the essence that leasing industry returns to serve the real economy. He believes that financial leasing will play the biggest role to support the real economy, continue to evolve in the market, and ultimately change the financial ecological structure of our country to become the third channel comparable with banks, credits, and securities.
After ten years of rapid development, financing lease industry in China has become the second largest leasing market in the world, and financial leasing is playing an increasingly important role in the aspect of serving the real economy. Zhou Wei, Chairman of the Company was invited to attend the forum, and delivered a speech with the theme of Ten Years of Hard Work with Steadfast Target, showed his thinking on the development of leasing industry under the new situation, which is hereby released.
My honored Vice Mayor Yan and Mr. Sudhir P•Amembal, ladies and gentlemen:
It's nice to be with you again in Tianjin. Leasing is borderless and our hearts are interlinked at all times.
This year is a particularly memorable year for the leasing industry in China and even in the work. In 2007 of ten years ago, CBRC promulgated the Administration of Financial Leasing Companies Procedures. Within one year after it was promulgated, the first batch of five banking financial leasing companies including Minsheng Financial Leasing were allowed as pilots to start business successively. Since then, the financing lease industry in China has opened a new chapter in history. Based on their powerful capital strength, strong shareholder background and professional team, the financial leasing companies took the lead, and financing lease industry as a new force emerged suddenly in China, ushering in the rapid development stage. In a short period of ten years, financing lease industry in China has become the world's second largest leasing market from its silence originally.
To date, according to incomplete statistics, there have been nearly 7000 diverse financial leasing companies and financing lease compannies with size of assets over 4 trillion Yuan, including more than 60 financial leasing companies with asset balance over 2 trillion Yuan. Most of the national commercial banks have set up their own financial leasing companies, even more and more financial institutions and large corporate groups enter the leasing industry, with leasing business covering the fields of aircrafts, ships, vehicles, equipment etc, business scope throughout the country, radiation of the world, and clients including large enterprises, SME, micro businesses, and agriculture, farmer and rural area even individuals. The financing lease industry is in full swing throughout the country, especially in Tianjin, it has been in a leading position and produced a good demonstration effect both at home and abroad. As Director Shen Lei introduced just now, Dongjiang is not only the gathering place of leasing industry in China, also sets up a brand in the global leasing industry.
Over the past ten years, the financial leasing companies in China, under the great support of CBRC and all levels of governments, overcame the difficulties, with organic combination of the service for real economy and its sustainable development all the times, implemented innovation closely around the service for real economy, and broke through multiple bottlenecks of industry development, realizing active docking between leasing and effective demand of real economy. Financial leasing, as a new financial format and investment/financing form combing most closely with the real economy, fully plays its functional strength in the combination of funds-financing and object-financing along with the growth of economy in China, and relying on its strong financial background, has become an important force to support the development of real economy in China. As an important participant and witness of this process, Minsheng Financial Leasing has experienced profound changes of the past ten years:
In terms of social value, financial leasing plays an increasingly important role in the aspect of serving real economy.
First, in the aspect of implementing national major strategies, financial leasing actively serves national major strategies such as "The Belt & Road", Beijing-Tianjin-Hebei Coordinated Development, Yangtze River Economic Belt, "Made in China 2025" and Green Finance etc. Especially, relying on the business mode of "Made in China plus Financing Lease", the leasing companies in China purchase high-end equipment made in China from domestic market such as ships and equipment and lease them to the foreign markets, help national manufacturing industry go abroad, and provide strong support for "made in China" to open up international markets. While actively supporting “made in China” to go abroad, the financial leasing companies of our country are also actively introducing the advanced equipment which need to be imported to domestic market. Over the years, Chinese financial leasing companies have played an important role in the aspects of importing the state-needed aircrafts, high value-added ships, marine engineering and advanced equipment etc.
Second, in the context that Chinese manufacturing industry accelerates its step of transformation and upgrading, the particular product promotion and investment/financing functions of financing lease have deeply aligned with the needs of Chinese manufacturing industry’s transformation. By way of leasing, the Chinese manufacturing enterprises, at the time of sales by leasing and sales promotion based on leasing to expand the sales of manufacutrued products, integrate upstream and downstream manufacturers to form the ability of supply chain, and accordingly provide additional financial services beyond the production.
Three is a small micro enterprise financing difficult problem in the crack, leasing companies give full play to the advantages such as flexible financing, deadline, continuously introduce the leasing products with professional characteristics, for small micro enterprises to carry out the Marine fishing boats, engineering machinery, machine tool industry, logistics vehicles, and other types of equipment leasing service, effectively make up for the part of agriculture, rural areas and farmers, small micro enterprise financing problems.
In terms of industry value, one is to further enrich and improve China's financial system. Enacted the financial leasing company management method ", "bank office leasing" from scratch, and based on a bank's financial leasing companies, especially since the establishment of shouldering the mission of bank comprehensive business transformation, in the contribution to the better financial returns, enhancing the added value of the brand at the same time, enhance the comprehensive competitiveness of bank. It should be said that the bank pilot leasing is successful.