Research On Sustainable Development About The Financial Leasing Industry In China

Financial leasing originated in the United States in the nineteen fifties. As a new way of financing, it was called" the sunrise industry in twenty-first Century". With the increase of the trading volume and the expansion of scale, financial leasing became the second largest way of financing coming after bank credit. Financial leasing has developed more than sixty years overseas and took an important part of America’s economy with30%market penetration. The financial leasing industry in China started late with only thirty years’ history. After experiencing the stages of rapid development, industry consolidation, legal construction and restoration, China’s financial leasing industry has achieved a certain scale. By the end of2010,182leasing company registered in China, and the amount of financial leasing was700billion which increased by89%than last year. Among them,17companies got the official approval of the CBRC and45companies got the permission of the Ministry of Commerce.120companies were wholly foreign-owned. China’s leasing industry regulation was improved gradually, especially after the issue of "financial leasing company management approach" by CBRC in2007,the financial leasing companies rose rapidly. This new approach set the rules of company establishment condition and the scale of this business which played an indicative role of the financial leasing business. With the development of our country’s finance leasing industry, it contributed a lot to our national economy growing, so we should pay more attention to its theoretical research. By analyzing the state quo of the financial leasing industry in China, we should find out the existing problems in its development process and the ways of coping with these difficulties in foreign countries. After comparison, we can see that there still is a long way to go for China’s financial leasing business. We should take the path of sustainable development by drawing lessons from foreign mature leasing business modes ranging from supervision, legal system to innovation and preference.