Relative national departments and Tianjin Municipal Government would cooperate with each other to set up a tax task team to help locate “China Leasing Industry Base” at the Binhai New Area, Tianjin, China Daily learned on the sideline of the 6th China Leasing Industry Forum on November 18.

The tax task team will do research on tax preferential policies from all the links of financial leasing and carry out financial support tax policy pilot program in the Binhai New Area; build China Leasing Development Research Center to support the development of leasing industry in China; organize leasing industry fund which mainly launches into those leasing companies registered in Tianjin and serve Tianjin’s economic construction; establish second-hand equipment market trading center to provide an appropriate platform for second-hand equipment trading.

With the theme of “The Sustainable Development of China Economy and the System Innovation of Financial Leasing”, the 6th China Leasing Industry Forum was held in the Binhai New Area, Tianjin on Nov. 18-19, 2008.

China Leasing Industry Forum, whose scale and influence expand year by year, could be dated back to 2003. On the base of the previous 5 sessions, this forum invited officials, enterprisers of leasing industry, experts and people from other walks of life to discuss how China Leasing Industry should cope with new historical opportunity and challenge as well as promote the leasing industry in China.

This forum will play an important role in promoting the development of the leasing industry and improving the marketing-system building in China. To the characteristics of leasing industry and the trend of international leasing industry, the forum took effort to establish a platform for dialogue, exchanges and cooperation between enterprises and government departments, national and international leasing industry, as well as between leasing enterprises. It has attracted plenty of attention and become an unprecedented event in China Leasing Industry.

The negative effect of international financial crisis on global economy and global financial circles is profoundly influencing China’s economic structure and direction. The restrained financial situation at home and abroad is both a challenge and opportunity to financial leasing. On one hand, leasing companies subject to its own shortage of funds and develop difficultly; on the other, more small and medium-sized enterprises which encountered financing bottlenecks turn to financial leasing, which would provide new business opportunities to leasing industry. Accompanied by the gradual enhancement of social awareness to leasing industry, all walks of life have more and more demand for leasing business. As an important link of financial market, leasing industry rapidly reflects the profound impact of credit policy to China’s economy with the adjustment of credit policy.

Approved by the State Council, Tianjin Binhai New Area became a national comprehensive reform pilot area which could be the first test bed in a number of financing policies. To leasing industry which urgently need policy support, the policy environment in Tianjin Binhai New Area is a historical opportunity. So this forum focused on two points: how does national leasing industry achieve positive interaction with Tianjin Binhai New Area in system innovation; how to make good use of the relaxed policy atmosphere to promote the development of leasing industry in China.

China Daily Tianjin Bureau