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First industry-based financial leasing company has been approved to set up in Jiangsu Province

People.cn reports from Nanjing, 26th April (Journalist Wang Weijian)  Recently, approved by CBRC, Xuzhou Heng Xin Financial Leasing Co., Ltd. (hereinafter referred as ‘Heng Xin Financial Leasing’) obtained the permission to incorporate.  This is the first financial leasing company set up by a clean energy company as the major founder. So far, number of non-banking financial institutions in Jiangsu has reached 25.

 

The responsible person from Heng Xin Financial Leasing introduced that the company is set up by GCL Intelligent Energy (Suzhou) Co., Ltd. as the main founder, together with XCMG Group and Xuzhou Guosheng Investment Holding Co., Ltd.  The application was submitted to CBRC with a registered capital of RMB 1.5 billion.

 

GCL Intelligent Energy (Suzhou) Co., Ltd., a subsidiary of the leading new energy and clean energy company GCL (Group) Holding Co., Ltd., mainly focuses on the development of clean energy.  XGMG is a well-known engineering and mechanic company in China.  Xuzhou Guosheng Investment Holding Co., Ltd. is a large SOE specialised in asset operation and management.

 

People from Jiangsu BRC understands that being the first industrial financial leasing company (i.e. a financial leasing company set up by manufacturing or production type company ) of Jiangsu that is approved to incorporate, the background of the shareholders enables the new company to focus on equipment financing, and to exert impact on facilitating equipment upgrading and research innovation etc.  It is beneficial to the financial market of Jiangsu and the structural reform on the supply side.