Shanghai financial leasing industry is developing rapidly

Shanghai financial leasing industry is developing rapidly

Financial leasing companies in Shanghai increased from 82 in 2011 to 2,089 last year, representing nearly 30 percent of the country's total, the Shanghai Leasing Industry Association said.

Their combined assets grew from 120 billion yuan (US$17.66 billion) in 2011 to 1.2 trillion yuan last year, making up about 30 percent of the national total.

More than 130 financial leasing companies put their headquarters in Lujiazui, Pudong. They hold half of the total assets of leasing companies in Shanghai.

Shanghai Free Trade Zone has 1,524 financial leasing companies with combined assets of 501.5 billion yuan.

Of the 2,089 leasing companies, 2,064 are foreign-owned, indicating that foreign investors favor this sector with a business scope covering aviation, shipbuilding, machinery building, medical equipment, new energy, and environmental protection industries.

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