Introduction: Financial leasing is a highly adaptable financing method when the market economy develops to a certain stage. So do you know its function, fields, elements and operation flow? The following is the relevant information, and everyone is welcome to read and learn.

Backward equipment and low technical level are common phenomena in small and medium-sized enterprises in China. In the face of increasingly fierce market competition, it is urgent to update and transform it, which undoubtedly requires a lot of money. With the current economic situation of small and medium-sized enterprises, it is neither possible nor realistic to rely entirely on bank credit or listing financing. In this case, simple and fast financial leasing with low credit requirements is an effective supplementary way to solve this problem.

Financial leasing is a highly adaptable financing method when the market economy develops to a certain stage, and it is a new financial industry integrating financing and financial integration, trade and scientific and technological innovation. After more than 60 years of development, financial leasing has become the second largest financial tool in western developed countries after bank credit. At present, nearly13 of the global investment is completed in this way. At present, the market penetration rate of financial leasing industry in developed countries is generally 15%? 30%, many countries attach great importance to this business, and Russia regards the development of financial leasing as one of its five major measures to develop its economy; In China and the United States? Join the WTO? In the negotiations, one of the asking prices of the United States is to ask China to open its financial leasing market.

From 2006 54 38+0 65438+2 12, foreign-funded institutions are allowed to engage in financial leasing business in China. China's financial leasing industry began in the early 1980s. In the development process of more than 30 years, it has fully played the functions of financing, investment, promotion and asset management. Fully expand the broad development space: in the production field, the application of financial leasing can expand substantial investment to drive employment growth, accelerate technological transformation and equipment upgrading of enterprises, and promote the use of high-tech and high-end equipment; In the field of circulation, the use of financial leasing can change the traditional circulation mode of the original production, transportation and marketing departments, establish an integrated production and marketing system of storage, production, supply and marketing, promote the sales of domestic equipment, and expand the market share of China's manufacturing equipment; In the financial field, the use of financial leasing can change the single loan financing mode, improve the financial market elements, improve the asset structure of commercial banks, reduce operational risks and expand the financing scale of small and medium-sized enterprises; In the field of finance and taxation, the cooperation between financial leasing and fiscal policy can change the original fiscal accumulation, distribution, investment mode and tax payment function, and give full play to the leverage of fiscal and taxation funds; In the field of state-owned assets management, the use of financial leasing can reduce the possession of fixed assets, improve the liquidity of funds, revitalize existing state-owned assets, and realize the preservation and appreciation; In the application fields of entity enterprises, such as electrical equipment, machining equipment, medical equipment, communication equipment, environmental protection equipment, aircraft, teaching and research equipment, apartment and hotel supporting equipment, etc., the role of financial leasing is particularly important. With the further opening of the financial leasing market, China's financial leasing will get greater development, and it will also provide more convenient conditions for small and medium-sized enterprises to raise funds in this way.

I. Overview of financial leasing

Due to the low credit rating and weak strength, it is difficult for SMEs to obtain loans from banks. Because of the combination of financing and finance, the leasing company can recycle and dispose of the leased property when there are problems, so the requirements for corporate credit and guarantee are not high when handling financing, which is very suitable for financing of small and medium-sized enterprises. In addition, financial leasing belongs to off-balance-sheet financing, which is not reflected in the liabilities of enterprise financial statements and does not affect the credit status of enterprises. This is very beneficial to SMEs that need multi-channel financing. Financial leasing is also conducive to promoting technological transformation of enterprises, avoiding the trouble of dealing with old equipment when updating equipment, thus speeding up equipment updating.

(A) the definition and main features of financial leasing

Financial lease refers to a lease that essentially transfers all or most of the risks and rewards related to asset ownership. The ownership of assets may or may not be transferred eventually. An essential difference between financial leasing and traditional leasing is that traditional leasing calculates the rent based on the time when the lessee leases the property, while financial leasing calculates the rent based on the time when the lessee occupies the financing cost.

The main feature of financial leasing is that the ownership of the leased property is only a form of ownership adopted by the lessor to control the risk of the lessee's repayment of rent, which may eventually be transferred to the lessee at the end of the contract. Therefore, the lessee chooses to purchase the leased property, the lessee is also responsible for its maintenance, and the lessor only provides financial services. The principle of rent calculation is: the lessor calculates the rent according to the purchase price of the leased property, the time that the lessee occupies the lessor's funds, and the interest rate agreed by both parties. It is essentially a financial transaction attached to traditional leasing, and it is a special financial instrument. It is combined with trade, so it is necessary for both parties to complete the whole transaction. This is also an important difference between financial leasing and installment payment and debt credit (only involving the general relationship between the two parties).

(B) the main role of financial leasing

Financial leasing has the characteristics of controlling the ownership of leased property, and its anti-risk ability is stronger than that of banks, which can promote the financing of small and medium-sized enterprises. For small and medium-sized enterprises, the positive effects of financial leasing mainly include:

1. Simple program

Due to their own reasons, small and medium-sized enterprises lack credit and guarantee to borrow from banks, and it is difficult to obtain bank loans. The way of financial leasing has the characteristics of project financing, which is repaid by the income generated by the project itself, and the fund provider only reserves the limited rights and interests of the project. The procedure of credit audit is simple, and financing and integration are integrated, which greatly saves time, enables enterprises to obtain the right to use equipment in the shortest time, conduct production and operation, and quickly seize market opportunities.

2. Financial leasing can extend the financing period and increase the cash flow of SMEs.

If SMEs buy equipment from banks, the loan period is usually much shorter than the service life of the equipment. However, renting the same type of equipment is not. The financing period can be close to the service life of this asset, so its cost can be shared over a long period of time. Most of the funds of small and medium-sized enterprises can be kept in a flowing state, and the cost can be shared during the whole service life of assets, which can be more closely matched with the operating income of enterprises and avoid the difficulty of capital turnover caused by the large consumption of funds by imported equipment.

3. Using financial leasing, small and medium-sized enterprises can carry out faster and simpler equipment renewal and technical transformation.

Because financial leasing has the characteristics of easy recovery, easy handling, and the scope of activities that participating banks can't operate, the requirements for the credit and project guarantee of the leased enterprises are not very high, which makes most small and medium-sized enterprises be able to carry out equipment renewal and technological transformation in this way. Financial leasing combines the two procedures of financing and procurement into one, so it can improve the efficiency of project construction.

4. Financial leasing can help SMEs avoid the adverse effects of inflation and guard against exchange rate and interest rate risks.

In the case of inflation and currency depreciation, the price of equipment will inevitably continue to rise, and the rent of financial leasing is generally based on the price of equipment at the time of signing the lease, which is almost unchanged during the lease period, so enterprises will not pay more capital costs because of inflation. If foreign exchange is needed to purchase leased items from abroad, financial leasing can convert foreign exchange into RMB and lease them in RMB, so that leasing enterprises can avoid the exchange rate risk caused by RMB depreciation. For contracts with fixed interest rate in the initial stage of financial leasing, leasing enterprises can also avoid interest rate risks caused by interest rate fluctuations.

5. Independent accounting

Financial leasing belongs to off-balance-sheet financing and is not reflected in the liabilities of enterprise balance sheet. And general loans are reflected in the liabilities of enterprises, which affect the credit status of enterprises. This is very important for enterprises that need multi-channel financing, especially small and medium-sized enterprises. Enterprises can finance (lease) according to the maximum value of leased property, thus saving liquidity and maintaining the existing credit line. Through this kind of off-balance-sheet financing, we can liberate liquidity, expand the source of funds and break through the limitation of current budget scale.

In addition, financial leasing has many functions, such as saving costs and promoting sales.

(3) Types of financial leasing

1, simple financial lease

Simple financial leasing refers to the lessee's choice of the leased property to be purchased, and the lessor rents the leased property to the lessee after evaluating the risk of the leased property. In order to obtain the leased property, the lessor first purchases the leased property selected by the lessee in full, calculates the rent according to the fixed interest rate, the lease term and the length of time that the lessee occupies the lessor's financing principal, and the lessee pays the rent for each installment according to the contract, and sells the ownership of the leased property to the lessee at a nominal price after the expiration. During the whole lease period, the lessee has no ownership, but enjoys the right to use, and is responsible for repairing and maintaining the leased items. The lessor is not responsible for the quality of the leased property, and the depreciation of the equipment shall be borne by the lessee.

2. Financial leasing, also known as financial leasing.

Sub-leasing business refers to a number of financial leasing businesses with the same subject matter as the target. In the sublease business, the lessee of the previous lease contract is also the lessor of the next lease contract, which is called sublessor. The sublessor rents the leased property from other lessors and sublets it to a third person. The sublessor aims to collect the rent difference. Sub-financing leasing mostly occurs in transnational financing leasing business. The second lessor can profit by playing the role of financial leasing broker without using its own funds, and can share the tax benefits of the country where the first lessor is located, thus reducing the financing cost.

3. Return lease, also known as after-sale leaseback financial lease.

Generally called leaseback, it is a branch of simple financial leasing. Its characteristic is that the lessee and the supplier of the leased property are integrated, and the leased property is not purchased, but the equipment that the lessee has purchased and is using before signing the lease contract. The lessee sells the equipment to the leasing company and rents it back as a leased property, but still has the right to use the property, but has no ownership. Lease enterprises can meet the needs of improving their financial situation and revitalizing existing assets through leaseback, and can convert materialized capital into monetary capital without affecting their continued use of property.

4. Leveraged financial leasing

Leveraged leasing, similar to syndicated loans, is a kind of financial leasing with tax incentives, mainly led by a leasing company as a backbone company to finance a super-large leasing project. First of all, set up an operating organization that is separated from the main body of the leasing company? Set up a fund management company specially for this project to provide more than 20% of the total project amount, and the rest of the funds mainly come from absorbing idle hot money from banks and society, and enjoy the benefits of low tax with 100%? Use two bo eight? Leverage to obtain huge funds for leasing projects. Other practices are basically the same as financial leasing, but the complexity of the contract increases because of its wide coverage. Because it can enjoy preferential tax, standardized operation, good comprehensive benefit, safe rent recovery and low cost, it is generally used for financial leasing of aircraft, ships, communication equipment and large complete sets of equipment.

Financial leasing service industry-oriented, seeking high-quality development

High-quality growth, quality and efficiency are more concerned.

After more than 30 years of development, the business scale of financial leasing industry has been expanding. In the course of years of development, the vision of leasing companies mainly focuses on expanding business scale.

Li Siming, the chairman of Shanghai Junchuang International Financial Leasing Co., Ltd., said frankly that the development of leasing companies is often compared with their asset scale, but few people pay attention to the specific asset quality and income. But at present, with the increasing exposure of leasing risks, we can no longer rely solely on scale? On heroes? Paying attention to high-quality and sustainable industry development and achieving quality growth are gradually becoming the knowledge of practitioners.

Gao, general manager of Yuexiu Financial Leasing Co., Ltd. pointed out that the development scale, quality and benefit of financial leasing companies should be balanced and quality growth should be pursued. From scale assessment to quality assessment, it is the only way for leasing companies to cultivate their internal strength.

Zhao Hongwei, general manager of AVIC International Leasing Co., Ltd. also believes that the current industry risks have emerged, and the entire leasing industry is facing transformation, so leasing companies should pursue quality growth.

In order to promote the quality growth of the company, focus on the realization of its main business? Weight loss and fitness? This is an effective way. It is understood that AVIC Leasing plans to increase its capital to 7.466 billion yuan, and all the funds raised by the capital increase will be used for the development of AVIC Leasing's main business. The relevant person in charge of AVIC leasing said that in 20 17 years, it will continue to increase the aircraft leasing business and strive for a breakthrough in operating leasing. Ping An Leasing is deeply involved in the field of medical leasing. The scale of total assets has exceeded 1000 billion yuan, of which nearly one-fifth comes from medical leasing business, and the health and hygiene business line has also achieved the first place in the market.

Quality business highlights professional advantages

In fact, financial leasing is the closest tool between the financial sector and the real economy, and it is a cross-border and cross-industry institutional innovation. The leasing industry is currently in a transitional period, and seeking high-quality development is inseparable from professional management.

There are more than 7,400 financial leasing companies in China, and a large number of peer companies will inevitably bring the competitive pressure of homogenization and simplification of business. Yin Hongjun, Chairman and General Manager of Huadian Financial Leasing Co., Ltd. said that relying on specialization and differentiated competition is the biggest advantage for leasing companies to survive.

For example, Huadian Leasing relies on Huadian Group and its professional understanding of the power generation industry to have a more accurate understanding of new energy, photovoltaic, wind power and traditional coal industries, thus effectively completing the coal leasing business; In the preparation of Guangrongda financial leasing, it is clear that the company's positioning is to take the road of professional and sustainable development, focus on the development of leasing business in the automobile field, rely on the advantages of leasing shareholders in the whole automobile industry chain, do a good job in supply chain finance, improve the efficiency of automobile use and inject vitality into the real economy.

Fang, chairman of Ping An Leasing, said that every leasing company should identify the market segments and make characteristics or even lead in the market segments. It is understood that by the end of 20 16, Ping An Leasing had 19 business lines, among which, it made efforts in the medical and health market segment and basically completed the business of1500 million yuan every year, serving the entire medical industry chain including manufacturing, medical devices, circulation and medical institutions.

? Considering the individual needs and the needs of different hospitals, we need to provide different solutions to achieve professional financial services. ? Fang said that Ping An Leasing is moving towards industry, and expanding industrial leasing is another feature of its own professional operation. Ping An Leasing Plan will invest 1 100 million yuan to1500 million yuan in the next three to five years, and set up 100 imaging centers throughout the country to provide leasing services for non-public hospitals and provide support for solving the social problems of difficult and expensive medical treatment.

High-quality assets to build core competitiveness of financing

Under the new economic normal, the transformation and upgrading of China's economic development needs the support of financial services. Similarly, the development of the real economy needs effective financial instruments, and financial leasing, as a capital-intensive industry, can just meet these needs.

Wang Jialin, vice president of China Financial Leasing Enterprise Association, said that financial leasing companies help actual manufacturers to promote sales, and also provide support for enterprise equipment upgrading. In addition, compared with bank loans, financial leasing is bond financing, and in some specific industries, it also has the ability and willingness to undertake greater and more risks, thus meeting the financing needs of entity enterprises more.

So, financial leasing is an entity enterprise? Blood transfusion? At the same time, it has always been an important topic to explore high-quality assets, improve financing ability and realize their own sustainable development.

At present, it is difficult for the entire financial leasing industry to obtain high-quality assets. In the face of increasing competition, leasing companies must look for new products and new expansion models. Fang pointed out that the formation of high-quality assets is the most important prerequisite for the healthy development of enterprises. In building diversified financing channels, financial leasing companies need to actively explore and strive to improve their ability to obtain funds.

Among them, asset securitization is an effective way for financial leasing companies to solve financing problems. According to statistics, in 20 16, China's financial leasing companies * * * issued ABS 1 17, with a total issuance of1150.37 million yuan. It is understood that Ping An Leasing involves many varieties such as winning the bid, short-term financing, ultra-short financing and perpetual debt. By integrating high-quality resources in domestic and foreign markets, flexibly using indirect and direct financing methods, and relying on multiple financing subjects, we have achieved in-depth cooperation with banks, trusts, insurance, peers and other channels in cash, bills, fund management, and strived to form diversified sources of high-quality assets.

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