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People's Daily Online>>China Business

Financial leasing helpful for SMEs

By Yu Ronghua (People's Daily)

16:27, March 30, 2012

Edited and translated by Yao Chun, People's Daily Online

Financial leasing as a new financial tool is playing an increasingly important role in financing and upgrading small and medium-sized enterprises (SMEs).

Cong Lin, chief executive officer of ICBC Leasing, a financial leasing enterprise in China, explained how the financial leasing works: The financial leasing firms buy the equipment and then lease them to the SMEs, which should pay the rent periodically. If the enterprise goes bankrupt, the leasing company can get the equipment back to ensure its own interests. Financial leasing is based on asset credit and can offer financial services to new found SMEs whose credit stands are hard to identify.

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