【正文】 CHINA Business Initiative Leasing Business in China Beijing and Munich Updated: March 20xx Prepared by: Shen Wei Gang (SFSL) Markus Schlaffer (SFS ESF BD) 2 S. Wei Gang / M. Schlaffer Leasing Business in China TABLE OF CONTENTS 1 Political Environment ........................................................................................................ 5 2 Macroeconomic Environment .......................................................................................... 5 Currency ....................................................................................................................... 6 Foreign Trade ............................................................................................................... 6 Foreign Investments ...................................................................................................... 7 Labor Market ................................................................................................................. 8 3 Financial Market ................................................................................................................. 8 Banking Sector.............................................................................................................. 8 State Owned Banks ............................................................................................... 8 Reforms of State Owned Banks ............................................................................ 9 Foreign Banks ............................................................................................................... 9 Interest Business......................................................................................................... 10 RMB Business ............................................................................................................ 10 Securities Industry....................................................................................................... 10 Secondary Market ............................................................................................... 10 Bond Market ........................................................................................................ 11 Share Market ....................................................................................................... 11 Reform Plans................................................................................................ 11 Second Board .............................................................................................. 12 4 Domestic Leasing Market ............................................................................................... 12 Market Players ............................................................................................................ 12 Business Volume......................................................................................................... 12 Lease Volume 19811999 in USD million ............................................................ 13 Lease Volume Fluctuation In 1990s ............................................................................ 13 Lease Types Available /Popular In China ................................................................... 14 Direct Lease ........................................................................................................ 14 Sale amp。 Lease Back .............................................................................................. 14 Vendor Finance Lease......................................................................................... 14 Master Lease ....................................................................................................... 14 Structured Participating Lease ............................................................................ 14 Bundle Lease....................................................................................................... 14 Sublease ............................................................................................................ 14 Trust Lease: ........................................................................................................ 15 Revenue Sharing Lease ...................................................................................... 15 United Lease ....................................................................................................... 15 Funding Resource....................................................................................................... 15 Shareholders‘ Equity ........................................................................................... 15 Bank Loans.......................................................................................................... 15 Syndication Loans ............................................................................................... 15 Lease Rentals Pledge ......................................................................................... 15 Capital Bonds ...................................................................................................... 15 Stocks .................................................................................................................. 15 Major Problems Across The Industry .......................................................................... 16 No Strategy Or Business Focus .......................................................................... 16 Take Leasing As Loan Surrogate ........................................................................ 16 No Efficient Credit Control .........................................................................