New leasing measures aid reform

Improved financial requirements will assist companies to invest in better equipment

The Chinese government approved a series of supportive measures on Wednesday for the development of financial leasing, part of the government's efforts to deepen financial reform and ease funding difficulties.

A State Council executive meeting, presided over by Premier Li Keqiang, decided to remove the minimal capital requirement for financial leasing companies when setting up subordinate businesses, streamline administrative procedures for exporting agricultural and medical equipment, and encourage the leasing of equipment in high technology and clean energy sectors, according to a statement released after the meeting.