Finance lease is a “gilded signboard” of the local financial innovation in Tianjin. According to the latest statistics learned by the reporter from the local finance lease association yesterday, there have been 1,360 finance lease companies in Tianjin by the end of September, increasing by 22.4% YoY, and most of the new companies are registered in Binhai New Area (BHNA). Among the finance lease companies, there are 10 finance lease companies, 58 lease companies with domestic investments and 1,292 lease companies with foreign investments, which have increased on a Year-on-Year basis by 25%, 141.6% and 19.7% respectively. The total registered capital of all finance lease companies in Tianjin is up to CNY 575.6 billion, increasing by 33% YoY.
It is learned that, by attracting and introducing foreign capital into this industry, the local administration has worked actively to expand the scale of finance lease companies since this year. The local administration also strengthened approval of the credits of newly registered companies, by which its major attentions shifted from the quantity to the quality of registered companies. A number of world famous companies, such as Standard Chartered Bank, the companies of Milestone, Avolon, Waypoint, SES under Gecas, and HKAC, have established their platforms in BHNA to provide their services to domestic clients and to expand their shares of domestic market. According to statistics, the total registered capital of lease companies invested by foreign capital amounted up to CNY 472.8 billion, increasing by 29.2% YoY. Ever since the approval of pilot finance lease companies with domestic investments was granted to the local administration, there have been 28 pilot finance lease companies with domestic investments approved in 4 batches so far. There have been 58 pilot finance lease companies with domestic investments by now, accounting for nearly 1/4 of total pilot finance lease companies in China, which brought Tianjin as a leader in this respect.
At the same time, Tianjinfurther facilitates the construction of national demonstrative zone of finance lease, implementing innovative policies of offsite supervision by the Customs over leased assets and allowing cross-border airplane lease assets transactions and the ownership transfer of leased assets during the supervision period by the Customs. It is further learned that the local authorities of Dongjiang Free Trade Port Zone and other FTZs have established their corporate credit management service systems, and realized information sharing by establishing cooperation mechanism with market supervision authorities, national tax bureaus, foreign exchange authorities and the People’s Bank of China, to carry out supervision over the finance lease industry during and after transactions. By the end of this September, a series of lease transactions covering 1,028 airplanes, 93 engines, 118 international shipment vessels and 12 offshore oil drilling platforms have been completed in the demonstrative zone of finance lease (Dongjiang) and the total assets transacted under finance lease, including airplanes, vessels and maritime engineering equipment have amounted up to USD 60 billion.