China to Boost Leasing Industry

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Last updated at: (Beijing Time) Friday, September 12, 2003

China to Boost Leasing Industry

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China's government and non-governmental institutions are about to lay out a package of measures to boost the development of the leasing industry, the organization committee of the China Leasing Industry Forum announced Thursday.

The policies will be designed and implemented to encourage close cooperation between different industries, companies and banks, said an official from the Ministry of Commerce.

The first nationwide leasing industry forum and a grand exhibition will kick off on Oct. 9 in Beijing, said Zhou Difei, deputy secretary-general of the committee.

Many world famous leasing companies have been invited to the forum, including those that supplied services for the Sydney 2000 and Atlanta 1996 Olympic Games, and would probably aim at the 2008games in Beijing, said Zhou.

Their advantages mainly relied on efficient management and mature financing patterns, and foreign companies were likely to bring new concepts to Olympic-related projects in Beijing.

Zhou said leasing was becoming a part of daily life, was probably more cost-efficient than purchasing, and the positive effects were clearer for certain goods such as personal computers and architectural machinery, he said.

Economists from the Ministry of Commerce maintained the leasingindustry was valuable in a variety of aspects, such as stimulatinginvestment, promoting sales and optimizing capital structure.

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