Premier calls for stronger leasing to bolster economy

The State Council, China's Cabinet, on Wednesday asked the country's leasing industry to facilitate financing and bolster real economy.

Stronger leasing services can provide capital to support investment on equipment and industrial upgrades, said a statement released after a State Council executive meeting presided over by Premier Li Keqiang.

The meeting demanded less red tape, including no threshold for the minimum capital of financial leasing companies to establish subsidiaries and easier procedures for leasing equipment like ships, farming machinery, medical devices and aircraft.

More support will target high-end equipment imports and clean energy, especially services for small enterprises and agricultural development, the statement said.

Better use of "Internet Plus" will help trading of leases, second-hand equipment and leaseback business.

Internet Plus encourages the development of e-commerce, industrial networks, and Internet finance.

The meeting encouraged local governments to provide incentives and risk compensation to guide financial leasing businesses to better serve the real economy. Endi