In order to better leverage the function of financial leasing in serving the real economy, Shanghai recently issued the "Implementation Opinions on Accelerating the Development of the City's Financial Leasing Industry" (referred to as the "Implementation Opinions"), striving to achieve the goal of The coverage of financial leasing business continues to expand, the penetration rate of the financial leasing market has increased significantly, and the scale of financial leasing assets accounts for more than 30% of the country's total. It is reported that the "Implementation Opinions" will come into effect on September 1 this year and will be valid until December 31, 2020.

Support the establishment of professional subsidiaries in free trade zones

The "Implementation Opinions" point out that pilot free trade zones should be supported to promote the clustered development of the financial leasing industry. In terms of supporting various services, we will continue to increase support for the financial leasing industry and set up special funds; promote the construction of financial leasing service innovation bases; support the establishment of financial leasing asset trading service platforms, etc.

Provisions such as "exploring the establishment of a financial leasing industry development fund" and "building a financial leasing asset trading platform" were also included in the "Several Opinions on Promoting the Healthy Development of the Financial Leasing Industry in Pudong New Area" issued by Pudong last year involved.

At the same time, the "Implementation Opinions" support qualified financial leasing companies to establish professional subsidiaries and special project companies to carry out leasing business of aircraft, ships and major equipment. Financial leasing companies are allowed to establish special project companies such as single-machine and single-ship ships in the form of absolute holdings. Special project companies such as single machines and ships that are affiliated to the same parent company are allowed to implement centralized registration of domicile and the domicile is the same as that of the parent company. Financial leasing companies are allowed to set up specialized subsidiaries such as aircraft and ships and continue to operate multiple aircraft, ship and other projects.

Leasing companies such as Bank of Communications Leasing and CMB Leasing have established professional subsidiaries in the Shanghai Free Trade Zone. The relevant person in charge of BoCom Leasing recently stated when participating in the "Shanghai Free Trade Zone Third Anniversary Summary and Evaluation Enterprise Symposium" that after the listing of the Shanghai Free Trade Zone, BoCom Leasing was the first company approved to establish a professional aviation and shipping subsidiary in the zone. Currently, The registered capital has increased to 1.5 billion yuan. “In accordance with regulatory requirements, project companies can be established domestically or overseas, but the management of assets is all handled by professional subsidiaries in the free trade zone. Since the establishment of the free trade zone three years ago, The new business has exceeded the total number of previous businesses.”

Domestic and foreign currency capital pooling is allowed

Taking advantage of the policy advantages of the Shanghai Free Trade Zone, the "Implementation Opinions" also support the pilot project of domestic financial leasing. Enterprises use foreign debts, and the foreign debts raised can be transferred into the country and deposited in a special foreign debt account, and can be used for payment settlement or willingness to settle foreign exchange. At the same time, financial leasing companies are encouraged to carry out RMB cross-border financing business.

The "Implementation Opinions" also allow financial leasing companies to carry out domestic and foreign currency capital pooling business, and centralize the foreign debts and external lending quotas of domestic member companies by opening domestic foreign exchange master accounts and international foreign exchange master accounts to achieve Unified allocation of domestic and foreign funds. In addition to the scope of domestic foreign currency transfers allowed by current regulations, we should actively explore new models for the management of domestic foreign currency transfers. On the premise that the transactions are genuine and reasonable, the transfer of foreign currency funds between the financial leasing parent company and the domestic special project company Applications can be made to the Shanghai Branch of the Administration of Foreign Exchange.

In order to speed up customs clearance and provide convenience for financial leasing companies to develop leasing import and export business, the "Implementation Opinions" clearly stated that financial leasing companies registered in the special customs supervision area of ??the free trade zone will import and export aircraft, For large-scale equipment such as ships and marine engineering structures involving cross-customs areas, on the premise of ensuring effective supervision and implementation of current relevant tax policies, and in accordance with actual logistics needs, efforts will be made to coordinate supervision in different places and facilitate customs clearance procedures.

Encourage mergers and reorganizations in the financial leasing industry

In terms of cultivating the market, the "Implementation Opinions" also propose that the field of financial leasing services should be continuously expanded, and domestic and foreign capital should be encouraged to set up financial leasing companies in Shanghai. Support financial leasing companies with advantageous industrial backgrounds to establish professional subsidiaries; encourage financial leasing companies to expand their scale and expand business through mergers and reorganizations, capital increases and share expansions, and form a group of industry leading enterprises with core competitiveness; support strong financial leasing companies The company carries out cross-border leasing and cross-border mergers, and cultivates transnational financial leasing groups; supports the establishment of financial leasing intermediary service agencies, and accelerates the development of professional consulting, technical services, appraisal and appraisal, asset management, asset disposal and other related industries that provide supporting services to financial leasing enterprises. .

As of the end of June this year, there were 1,772 financial leasing companies in Pudong New Area, an increase of 239 from the end of last year.

The "Implementation Opinions" pointed out that a communication and coordination mechanism for financial leasing management departments at the municipal level will be established, and the Municipal Commerce Commission and the Municipal Finance Office will take the lead in coordinating the relevant departments to speed up the implementation of these implementation opinions. Relevant departments should further strengthen division of labor and cooperation, implement responsible leaders and dedicated personnel, refine policies and measures, and coordinate with relevant national departments to actively seek support from relevant national departments.

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