State-owned Assets Supervision and Administration Commission: Strictly regulate the business development of financial leasing companies

Summary

[SASAC: Strictly regulate the business development of financial leasing companies]The SASAC issued a notice to further promote the healthy development of financial leasing companies affiliated to state-owned enterprises and strengthen risk prevention. The notice stipulates that financial leasing companies affiliated to state-owned enterprises shall strictly implement national macro-control policies, model compliance with industry regulatory requirements, regulate sale and leaseback, and shall not grant loans in disguise. Strictly restrict the use of non-realizable properties as leased items, and prohibit the purchase of low-value leased items with high value. Financial leasing companies should attach importance to the risk mitigation effect of leased items. It is strictly prohibited to invest in areas that violate the national policies and measures to prevent major risks, and it is strictly prohibited to violate regulations or accept various forms of guarantees provided by local governments. (Interface News)

The State-owned Assets Supervision and Administration Commission issued a notice to further promote the healthy development of financial leasing companies affiliated to central enterprises and strengthen risk prevention. The notice stipulates that financial leasing companies affiliated to state-owned enterprises shall strictly implement national macro-control policies, model compliance with industry regulatory requirements, regulate sale and leaseback, and shall not grant loans in disguise. Strictly restrict the use of non-realizable properties as leased items, and prohibit the purchase of low-value leased items with high value. Financial leasing companies should attach importance to the risk mitigation effect of leased items. It is strictly prohibited to invest in areas that violate the national policies and measures to prevent major risks, and it is strictly prohibited to violate regulations or accept various forms of guarantees provided by local governments.

(Article Source: Interface News)

(Editor in charge: DF532)