Modern leasing industry in developed countries be regarded as "sunrise industry", it is with the bank credit and securities to keep pace with one of the three financial instruments, commodity circulation is the main channel and market system in the national economy played a key role in the .
In China,glue stick the leasing industry through 20 years of ups and downs, not only no boom, but into a "small, weak, scattered, chaotic," the difficulties are far from playing its proper function, and China's overall economic strength and great did not match the market demand
Why China's leasing industry "grow up."
According to "World Leasing Annual Report" statistics, in 2003, the global total amount of $ 461,600,000,000 lease, the United States, Japan, Germany, respectively, to 204 billion U.S. dollars, 621 billion dollars, 39.8 billion U.S. dollars among the top three, while only 2.2 billion U.S. dollars in China .glue gun Market penetration from the leasing industry (leasing in the proportion of investment in fixed assets), the United States reached 31.1%, 20.2% in Canada, the United Kingdom 15.3%, Germany 9.8%, Japan 9.3%, Eastern Europe, Romania, Hungary, the Czech Republic were also 30.8%, 19%, 18.6%, China is only 1%. United States, more than 3,000 types of leasing companies, many of them Caterpillar, GE Commercial Finance Group, IBM this industry giant International Lease; and China's 10 financial leasing companies, rental companies and more than 40 joint ventures thousands of domestic companies Class of leasing companies, most barely make ends meet, far from the formation of brand and core competitiveness.
So, why the leasing industry in China, "grow up" pose a real problem?
Four major "bottleneck" stuck leasing
For this problem, the State Council Development Research Center, said Xia Bin, director of the Institute of Finance, four major "bottleneck" stifled the vitality of China's leasing industry.
"Bottleneck" in: bull management system that is not.
Three of the existing examination and approval by three different departments and management of the leasing companies: First, the original approval of the People's Bank of China, is a non-bank financial institutions like leasing companies; Second, the original approval of the MOFTEC, the nature of a quasi-financial institutions The joint venture leasing company; and third as a general industrial and commercial enterprises, the former director of Internal Trade, attached to the manufacturer, product marketing for the purpose of non-financial institutions owned leasing companies vendor class. In the legal status, barriers to entry, scope of business, tax treatment, etc., three types of companies in the state of unfair competition, there is "open, internal restrictions" tendencies. As a result of over-regulation, lack of stable funding sources throughout the industry to develop oneself. The financial leasing companies and auto finance services company high threshold (in billion yuan registered capital), but also to many domestic leasing companies get in the door.
"Bottleneck" II: tax is unreasonable, unfair taxation.
Tax policy uncertainty. For example, state tax department under the 2000 purchase of domestic equipment, equipment, 40% of the price of new income tax credit in the year, but the lessee and the lessor in finance leasing business in how to implement an operating lease, there is no clearly defined . Again, the sale leaseback of existing assets of the enterprise to raise funds realized one of the most convenient way, but there is no clear statement on how to tax it.
Three types of leasing companies in different tax base, tax is not fair. Joint venture leasing companies to lease receipts less cost of financing the difference as the base (foreign currencies), subject to 5% sales tax; financial leasing companies, in order to achieve a rental income as the base, subject to 5% sales tax (1998, these two types of business tax rate was adjusted to 8%); domestic leasing company to rent the total (not net of any fees) as the base, subject to 5% sales tax. In early 2003, began implementation of the new tax system: finance leases to rental income, net of finance costs for the base rate of 5%; operating leases, press all the rental income of 5% sales tax levy. As the "differentiated" in recent years, domestic companies pay income tax rate of 25%, foreign-funded enterprises was only 13%.
"Bottleneck" three: system is not perfect, industry-strand breaks.
On the one hand, the majority of our high proportion of business inventories, cash flow is low, from production to distribution of the whole process depends greatly on the banks, equipment lease purchase accounting for the proportion of investment in equipment is only about 1%. On the other hand, too few rental agencies, positioning is not clear, do not form a strong chain. Domestic firms engaged in the basic class of leasing companies is the traditional rental, financing, marketing, asset management and other functions can not play; and leasing industry supporting the security companies, leasing companies are lack of broker; and lack of cooperation from banks and other financial institutions, leasing companies not form a perfect complementary upstream and downstream of the rental network; nationwide leasing industry association has not been established, industry coordination, self-discipline, and information services are weak.