Guangzhou will allocate 90 million yuan to support financial leasing companies. Those settling down or increasing capital and shares in Guangzhou might have an award up to 5.0 million yuan. Special awards will also be granted to companies that serve Guangzhou-based enterprises.

 

On July 6, Guangzhou Municipal Commission of Commerce issued a notice to demand relevant organizations and departments of all the districts to organize their enterprises to apply the 2016 special development funds for financial leasing companies. Guangzhou strives to nurture 2~3 leading financial leasing enterprises with registered capital of more than 5.0 billion yuan and establish over 200 financial leasing enterprises by 2018.

 

The fund application is equal to foreign and domestic companies. Both foreign-funded financial leasing enterprises and domestic pilot financial leasing enterprises can apply the earmarked funds. All enterprises, institutions, social organizations and industrial associations (or combinations) that have legal registration with independent corporate qualification in Guangzhou, have good faith, reputation and comprehensive strength, have good credit in accounting and taxation and can pay back the bank’s loans on time are eligible for applying the annual earmarked funds.

 

Source: Translated from Invest Guangzhou, July 7, 2016