September 27 ICBC hosted the "Innovation Salon" with the theme of "Progress and Innovation in Financial Leasing Business" in Beijing. Guests from related government departments, corporate clients and ICBC representatives were invited to speak on the topics covering financial leasing and macro economy, leasing business planning and policy support, progress and innovation in ICBC financial leasing business. Participants shared the experience for the past few years of the rapid growth in this field and explored the way to drive forward the innovation.
Participants considered that it has significant meaning to push ahead financial leasing business. At the present time, the whole sector encounters a good opportunity and the prospect looks promising. Growth of this sector can be dynamic given the wide concern from the public and the joint effort from the industry. The sector can contribute more to the progress of China's economy.
As related, since the promulgation of Measures for the Administration of Financial Leasing Companies by China Banking Regulatory Commission in 2007 and the start of the pilot, financial leasing sector in China showed an impressive and consistent growth. As of end of June this year, 12 financial leasing companies in China have leasing business balance of over RMB 210 billion.
The business has driven up the industry investment and the integration of industry with finance. ICBC Leasing, the wholly-owned subsidiary of ICBC primarily engaged in financial leasing business, set its stone in Tianjin Binhai New Zone in 2007 and was the first financial leasing company set up by a commercial bank under the approval of China Banking Regulatory Commission.
Since then, ICBC Leasing focused on the leasing services for aircraft, vessels and large equipment and created many industry "first" and first examples. ICBC builds strong partnership with numerous customers through the delivery of professional leasing services in the areas of aviation, shipping, energy, electric power, transportation and machinery, and the innovation in various service modes of customs leasing, vendor leasing, operational leasing, export leasing and SME leasing.
After nearly three years of effort, today ICBC Leasing has a total asset of more than RMB 50 billion, 48 aircrafts, 65 vessels and 600+ equipments of different categories. ICBC Leasing maintains an excellent risk control exemplified by its zero bad loans.
The ICBC spokesperson continued that the event is one of the Head Office's "Innovation Salon" activities. Now in its fourth year, "Innovation Salon" is an ICBC Forum designed to turn ICBC into a learning-based organization and innovative bank. The Forum, with the main theme of innovation, aims to provide an open platform for dealing with new issues, exchange of new ideas, announcement of new products and encouragement of new thoughts. The Forum creates an environment to inspire innovation in order to meet the demand from customers for better financial services.
