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China's latest efforts to promote the financial leasing industry
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Following China's published statement to develop the financial leasing industry in its 12th Five-Year Development Plan released in March 2011, the Ministry of Commerce (MOFCOM) and the National Development and Reform Commission have now issued important updates and regulatory changes in a first step towards achieving this goal. This briefing introduces the latest MOFCOM guiding opinions which state the current principles for developing the financial leasing industry regulated under the MOFCOM regime, as well as the revised Industry Catalogue which removes prior restrictions on foreign investment in financial leasing businesses.
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