www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Companies

Morgan Stanley, China Fortune plan JV

By Gao Changxin in Shanghai (China Daily) Updated: 2012-04-19 13:19

Morgan Stanley and China Fortune Securities Co Ltd plan to set up a financial leasing joint venture, to enter a sector that has been growing by at least 50 percent annually in China.

Jiang Songtao, vice-president of State-owned INESA Holding Group, parent of China Fortune Securities, made the comment on Wednesday on the sidelines of a conference in Shanghai.

However, he didn't give details on where and when the new venture will be set up.

Financial leasing is a type of leasing where a lessor buys and owns an asset during a lease and a lessee pays to use that asset and has the option of buying the asset when the lease expires.

"We are looking closely at the country's financial leasing industry and will enter the sector in the near term," Jiang told China Daily.

China Fortune Securities is also known as Huaxin Securities.

Jiang's comment came after the two sides formed a securities joint venture last year, Morgan Stanley Huaxin Securities Co Ltd, that focuses on underwriting yuan-denominated stocks and bonds for small-cap companies in China.

Huaxin Securities holds a two-thirds stake in the 1-billion-yuan ($159 million) securities venture, with Morgan Stanley holding the remainder. They also jointly run an asset management venture, Morgan Stanley Huaxin Fund Management Company, which was founded in 2008.

Asked how the securities venture fared over the past year, Jiang said it is "gaining momentum and will see an uptick this year".

He added the venture would benefit from Morgan Stanley's global network, brand and talents.

Morgan Stanley's venture into financial leasing underscores the sector's explosive development in China over the past few years.

The industry's assets grew about 25-fold over the past five years. As of the end of 2011, the nation had more than 260 financial leasing companies with a contract balance of more than 700 billion yuan, according to the Ministry of Commerce.

Last year, 17 financial leasing companies set up by banks earned about 6.4 billion yuan in profit, up 78 percent year-on-year, according to the China Banking Regulatory Commission. The sector as a whole received 98 percent of its due rentals, indicating its assets are in good shape.

The rise of the financial leasing sector benefits from strong demand from small and medium-sized enterprises.

In China, the banking industry is reluctant to lend to SMEs, which typically have few assets. SMEs are more likely to get funded through financial leasing as leasing companies can take back the leased asset if they fail to find a lessee.

gaochangxin@chinadaily.com.cn

Hot Topics

Editor's Picks
...
...
主站蜘蛛池模板: 免费人成网站在线播放 | 成人毛片免费观看视频大全 | 99精品观看 | 亚洲在线看片 | 宅女福利视频在线看免费网站 | 国产精品久久久久久免费播放 | 51久久夜色精品国产 | 国产日韩精品一区二区 | 欧美精品一区视频 | 国产毛片一区二区三区精品 | 韩国在线精品福利视频在线观看 | 精品无人区一区二区三区a 精品午夜国产在线观看不卡 | 国产精品反差婊在线观看 | 亚州精品一区二区三区 | 国产乱码精品一区二区三区四川人 | 成人国产永久福利看片 | 国内自拍亚洲 | 欧美三级真做在线观看 | 国产高清在线 | 99精品欧美 | 国产做a爰片久久毛片 | 天天草综合 | 成人做爰视频www | 日韩经典视频 | 深夜做爰性大片很黄很色视频 | 久久久精品免费视频 | 中国hd高清╳xxx | 日本一区二区三区在线 视频 | 波多野结衣免费观看视频 | 欧美成人xxxx| 国产免费高清福利拍拍拍 | 国内欧美一区二区三区 | 日本黄色免费大片 | 手机黄色网址 | 亚洲精品在线播放 | 99re6热视频精品免费观看 | 国产综合在线观看 | 国产自偷自拍 | 中国国产一级毛片视频 | 亚洲成人高清 | 精品视频在线免费播放 |