在经历“十一五”（2006-2010）期间的快速发展后，2011年中国融资租赁行业逐渐回归理性，全年业务总量为9300亿元，同比增长32.9%，远低于“十一五”期间205.8% 的年复合增长率。其原因主要有两点：一是工程机械、船舶等下游行业的增速放缓；二是国家采取货币紧缩政策，影响了内外资租赁公司的资金来源。

　　2011年底，中国商务部出台了《关于“十二五”期间促进融资租赁业发展的指导意见》，在政策上给予更多的关注；再加上2011年新建的100多家融资租赁企业将陆续营业等因素，预计2012年中国融资租赁业务总量将达到13000亿元。


　　水清木华研究中心《2011年中国融资租赁行业研究报告》在分析中国融资租赁行业现状的同时，重点研究了中国三大类型融资租赁公司运营情况，以及航空、船舶、工程机械、医疗设备等主要融资租赁细分市场的发展情况。

　　中国融资租赁公司按照监管部门的不同，分为三类：金融租赁公司、外资租赁公司、内资租赁公司。金融租赁公司大多由银行投资建成，其融资租赁水平遥遥领先。2011年中国拥有20家金融租赁公司，全年共实现融资租赁业务总量3900亿元，占整体市场的41.9%。

　　同时，外资租赁公司实力也不断增强，特别是自2010年外资租赁公司的审批权下放后。截至2011年底，中国外资租赁公司达到200家，较2010年新增80家；融资租赁业务总量也同比增长69.2%，至2200亿元。2012年，随着《外商投资产业指导目录(2011修订版)》的实施，“外商投资金融租赁公司”从限制类调整为允许类，预计未来外资租赁公司的数量和融资规模将进一步扩大。

　　从应用领域来看，航空、船舶、工程机械、医疗设备等行业的融资租赁业务已发展地较为成熟，其代表企业依次为中银航空租赁私人有限公司、民生租赁公司、中联融资租赁公司、远东租赁公司。

　　2010年，中银航空租赁私人有限公司共向客户交付32架飞机，加上有效的融资策略及良好的财务约束机制为公司创造了1.68亿美元的税后净利润。2011年前10个月，公司已筹得15多亿美元资金，可用于超过30架飞机的融资，预计全年公司的税后净利润将达到1.75亿美元。

　　民生租赁公司成立于2008年4月，先后与中国船舶重工集团公司、中海油服、长航集团、江苏熔盛重工有限公司、中交天津航道局有限公司等多个船舶制造商合作，现已成为中国船舶租赁市场最大的企业。

　　中联融资租赁公司是中联重科旗下子公司，也是中国最早涉足工程机械融资租赁市场的企业之一，现在国内拥有中联重科融资租赁（北京）有限公司、中联重科融资租赁（中国）有限公司两个业务平台。此外，公司还先后在澳洲、香港、意大利、美国、俄罗斯等多个地区开展融资租赁服务。公司融资租赁交易额不断提高，2008年为24亿元；2009年为94亿元；2010年则达到170亿元。

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After the rapid development during the "Eleventh Five-Year" (2006-2010) period, China’s financial leasing industry gradually returned to reason in 2011, and achieved annual business volume of RMB 930 billion, up 32.9% year on year, far lower than the CAGR of 205.8% during the “Eleventh Five-Year” period. There are two main reasons for the gap: First, the growth of construction machinery, ship and other downstream industries slowed down; Second, the government adopted a tight monetary policy, impacting the capital source of both domestic-funded and foreign-funded leasing companies.

At the end of 2011, the Ministry of Commerce of China promulgated the “Guidance on Promoting the Development of Financial Leasing Industry during the Twelfth Five-Year Period”, paying more policy attention on the financial leasing industry; in addition, among other factors, more than 100 financial leasing enterprises set up in 2011 will start operation in succession, therefore, it’s expected that China’s financial leasing business volume will reach RMB 1.3 trillion in 2012.


The Report analyzes the current status of China’s financial leasing industry, and focuses on the operation of three major types of financial leasing companies in China, and the development of aviation, ship, construction machinery, medical equipment and other major financial leasing market segments.

By regulatory authority, financial leasing companies in China can be categorized into financial leasing companies, foreign-funded leasing companies and domestic-funded leasing companies.

Financial leasing companies are mostly invested by banks, and take the lead in terms of the level of financial leasing. In 2011, there are 20 financial leasing companies in China, accounting for RMB 390 billion (41.9%) of the total financial leasing business volume in the year.

Meanwhile, foreign-funded leasing companies have reinforced their strength continuously, especially after the transfer of the right to examine and approve foreign-funded leasing companies to lower authorities in 2010. As of the end of 2011, there are 200 foreign-funded leasing companies in China, an increase of 80 compared with 2010; the financial leasing business volume also increased by 69.2% year on year to RMB 220 billion. In 2012, with the implementation of “Foreign Investment Industry Guidance Catalog (2011 revision)”, the category of “Foreign-Invested Financial Leasing Company” will be adjusted from “Restricted” to “Allowed”, and the quantity and financing scale of foreign-funded leasing companies will further expand in the future.

From the perspective of application field, the development of financial leasing businesses has been quite mature in industries such as aviation, ship, construction machinery and medical equipment. Typical enterprises include BOC Aviation Pte Ltd., Minsheng Financial Leasing Co., Ltd., Zoomlion Finance & Leasing Co., Ltd. and Far East Horizon Limited.

In 2010, BOC Aviation Pte Ltd delivered a total of 32 aircrafts to customers, which, coupled with effective financing strategy and good financial constraint mechanism, created USD168 million of net income after tax for the company. In the first 10 months of 2011, the company already raised more than USD 1.5 billion, which can be used for the financing of more than 30 aircrafts. The full-year net income after tax is expected to reach USD 175 million.

Minsheng Financial Leasing Co., Ltd., founded in April 2008, has entered into cooperation with a number of ship manufacturers including China Shipbuilding Industry Corporation, China Oilfield Services Limited, China Changjiang National Shipping (Group) Corporation, Jiangsu Rongsheng Heavy Industries Ltd., CCCC Tianjin Dredging Co., Ltd., and become the largest enterprise in China’s ship leasing market.

Zoomlion Finance & Leasing Co., Ltd., a subsidiary of Zoomlion, is one of the earliest enterprises involved in the construction machinery financial leasing market in China. It now has two business platforms: Zoomlion Finance & Leasing (Beijing) Co., Ltd. and Zoomlion Finance & Leasing (China) Co., Ltd. In addition, it provides financial leasing services in Australia, Hong Kong, Italy, the United States, Russia and other regions. Its financial leasing transaction volume has increased continuously, from RMB 2.4 billion in 2008 and RMB 9.4 billion in 2009 to RMB 17 billion in 2010.