A Study On Legal Environment Of Default Risk In Financial Leasing

As a new way of financial innovation,financial leasing of China is in a period of rapid development,while more and more problems began to be exposed.Credit default risk is a major risk that financial leasing companies faced in the financing leasing business.This article uses case analysis method and combines quantitative analysis and qualitative analysis research method to analyze the status quo of financial leasing credit default risk in the financial leasing contract,states the reasons,the forms and the consequences of credit default risk,examines the legal system of financial leasing industry and then works out the existing problems of Chinese legal norms to financial leasing,including the lack of financial leasing industry special legislation,regulatory fragmentation and the absence of a unified regulatory standard,the regulatory loopholes of transferee subject qualification,guarantee of financing lease contract transfer without pertinence,imperfect industry self-discipline function of industry associations to credit default risk management and not enough protection of the lessor in financing leasing.Furthermore,the article uses time sequence model to make empirical analysis which is related to the relationship between the lack of legal norms and credit default risk in financial leasing and works out the priority ranking for the relationship.According to the empirical results,the article puts forward to solutions to the existing problems of legal norms,including improving the legal system of financial leasing to strengthen the protection to the lessor,unifying regulatory subject and regulatory standards,introducing a financial leasing special legislation and playing full role to for credit default risk management of industry association etc.