China’s financial leasing sector registered a steady expansion in 2021 despite COVID-19 shocks, a report from the China Banking Association showed. As of the end of 2021, total assets of the country’s financial leasing sector hit 3.58 trillion yuan (about 504.24 billion U.S. dollars), up 3.69 percent from a year ago, according to the report. Products related to green development saw rapid growth last year. Data showed that the newly-added green leasing business expanded 81.75 percent year on year to 124.34 billion yuan in 2021. The sector has also beefed up support to the real economy, with focuses put on strategic emerging and logistics sectors, according to the report.
China’s financial leasing sector shows steady expansion
Published on: October 4, 2022 10:29 AM