May 13, 2019

FTZ signs MoU with 10 financial leasing firms

The Shanghai Free Trade Zone Administration recently signed a Memorandum of Understanding with 10 major financial leasing enterprises to further promote the integration of industry and financial leasing.

At the same time, the FTZ launched a series of measures to improve its one-stop service for financial leasing firms. In future, the time from the application to business operation will be cut by half.

After 10 years of development, Shanghai’s financial leasing companies have expanded services to more real economy industries, including integrated circuit, Smart City and energy-saving facilities, so as to promote industrial transformation.

In the next three years, the 10 enterprises will provide more assets, including 100 aircraft, 100 ships and 10 billion yuan (US$1.46 billion) of high-end equipment, in the zone. Subsidiaries of the enterprises will provide more assets with a yearly growth of over 20 percent.