Research On Financing Channels Of China’s Financial Leasing Companies

In recent years, some emerging industries which are closely associated with the investment in fixed assets, such as high-speed rail, new energy automobiles, nuclear power, ultra high voltage and so on, are developing rapidly. Our country is also advancing the national strategy of "the Belt and Road" and "Yangtze River Economic Belt". All these are inseparable from the huge investment funds to support. In the macro background of central government deeply developing the real economy, financial leasing has won lots of attention as one of the channels which closely link finance and the real economy. Since 2014, the downward pressure on economic growth in China has been great. Many enterprises are shrinking scale and struggling to survive. But due to the establishment of the free trade area and policy factors such as bonus release, the leasing industry continues to expand the scale, among which, financial leasing which has both the functions of financing capitals and financing goods is becoming the focus of attention and is expected to became an important method of equipment transformation and technology upgrade in China. However, as the overall size of financial leasing industry boosts, the existing problems in the development have become increasingly prominent. The market penetration of financial leasing is far lower than the average level of developed countries. The overall level of development is not high. The most important factor is that the leasing company facing serious capital constraints and single financing channel which is mainly bank loans. Diversification of financing channels has just started. The industry generally lacks of abundant funds which matched with the characteristics of financing leasing. This is also the bottleneck of restricting financial leasing industry to deeply develop. Therefore, based on the analysis of current situation about Chinese financial companies’ financing channels, this paper has researched financial leasing companies’ factoring financing, securitization financing and trust financing from the view of cooperation between financial leasing companies and banks, cooperation between financial leasing companies and security companies, and cooperation between financial leasing companies and trust companies, so as to build diversified financing channels for financial leasing companies and promote the further development of financial leasing companies.This paper is divided into five chapters. The first part is the introduction, stating the background and significance, literature review at home and abroad, content and methods, innovation and shortcomings of the article. The second part states the status quo of financial leasing companies’ financing channels. It specifically analyses financial leasing companies’ number distribution, business scale distribution, and the status quo of traditional financing channel and new financing channel, which draws forth the need of diversified financing. The third part connects past and present, which expands the analysis of financial leasing companies’ financing channels combining with the specific cases. It includes analyses of necessity and feasibility, mode selection, risk analysis and case analysis. The forth part proposes to promote the diversification of financing from financial leasing company’s point of view and the external market environment’point of view. The fifth part summarizes the foregoing and looks into the future.