Port communicationForeign financial leasing registration
Require
94th day of the month，21Century Economic Report reporter learned，finance lease、Factoring、Financial licenses such as pawnshops may be transferred to the China Banking Regulatory Commission for supervision，Local supervision by local financial offices。“The reformed regulatory model and small loans、P2P online lending and similar，Guided by banking regulatory affairs，Specifically, it is the Ministry of Finance that regulates。"A person close to local regulatory agencies said。
The financial industry is a strongly regulated industry，Domestic institutions engaged in financial business need to obtain professional qualifications，i.e. financial license。These licenses are generally approved by the "one bank and three commissions"。in，Banks approved by the China Banking Regulatory Commission include、trust、Financial leasing, etc.，A third-party payment license approved by the central bank，Those approved by the China Securities Regulatory Commission include securities firms、public funds、futures、Fund subsidiaries、Fund sales, etc.，Insurance approved by the China Insurance Regulatory Commission includes insurance、insurance agency、Insurance brokers, etc.。
In addition to the above，It also includes a batch of “quasi-financial” licenses，But there is no strict definition，Generally refers to small loan companies、Financing Guarantee Company、Financial leasing company、Commercial factoring company、Pawn companies and other companies with financial attributes，However, these companies have not obtained financial institution operating licenses from the "One Bank, Three Commissions", etc.。 “This will increase local financial supervision。
" said Xu Bei, general manager of Guangzhou Anyida Internet Small Loan Co., Ltd.，In addition to financial licenses approved by the "one bank and three commissions"，Includes local AMC、Financing guarantee、Small loans, etc. are subject to local financial licenses，Guidance opinions issued by the China Banking Regulatory Commission and others，Send to various places，The Financial Office will formulate specific pilot measures。 “After the National Financial Work Conference，(lease、Factoring and other financial licenses)Managed by the China Banking Regulatory Commission，Landed at the local financial office or financial bureau。
Handover completed or landed，It should be late next year or early next year。"A person from an organization in South China said。 at present，Regulatory agencies such as one bank, three commissions or local financial offices have not yet issued、Factoring、Regulatory documents issued for “quasi-financial” licenses such as pawnshops。 but，From a financial regulatory perspective，More than 20,000 financial companies will bring huge challenges to supervision。
According to data from the Ministry of Commerce，By the end of 2025，finance lease、commercial factoring、There are 6,158 pawn and other companies respectively、5584Home、8280Home。In general, provincial financial offices usually only have a dozen to dozens of staff.。21Century Economic Report reporter learned，at present，Some local financial offices have begun to expand and recruit people.，to lease、Factoring、Establish a special supervision department for pawns, etc.。
2Trillions of financial leasing “switching” needs detailed rules since July，There have been rumors about adjusting regulatory agencies in the financial leasing industry.。 “(Financial leasing and financial leasing)There is too much difference in the approval stages，The Banking Regulatory Commission alone will come to pick it up.，difficult to operate。If you want to transfer, it would be more reasonable for the Finance Office to pick you up.。"Some people in the leasing industry believe that，Similar to the current supervision of local exchanges by the China Securities Regulatory Commission。 There are three types of domestic financial leasing companies:。
Financial leasing companies are approved by the China Banking Regulatory Commission，Is a non-bank financial institution holding a financial license。Financial leasing companies are divided into domestic-invested financial leasing pilot enterprises and foreign-invested financial leasing companies.，The former is jointly approved by the Ministry of Commerce and the State Administration of Taxation.，The latter is approved by the Ministry of Commerce，Is a general industrial and commercial enterprise。 at present，Since the competent authority has not yet issued a document，Specific plans for the adjustment of financial leasing regulatory agencies have not yet been released.。
It is unclear whether it is a "domestic-funded pilot financial leasing company approved by the Ministry of Commerce and the State Administration of Taxation" or a foreign-funded leasing company transferred to the supervision of the China Banking Regulatory Commission。 Among them，There are many foreign leasing companies，Fast growth。According to data from the China Banking Regulatory Commission，As of the end of the third quarter of 2025，A total of 52 financial leasing companies have opened nationwide，Total industry assets are 1.94 trillion yuan，Non-performing lease asset rate 0.93%。
According to data from the Ministry of Commerce，By the end of 2025，There are a total of 6,158 financial leasing companies registered in my country.，An increase of 70.3% over the end of the previous year，Total assets are 2.15 trillion yuan，an increase of 32.4%；in，204 domestic-funded pilot enterprises，Growth rate 7.9%；5954 foreign leasing companies，Growth rate 73.8%。 If the financial leasing company is transferred to the guidance of the China Banking Regulatory Commission and the supervision of the Financial Office，may solve its financing problems。
on financing channels，Sources of funds for financial leasing companies other than capital，Can also accept shareholder deposits、interbank lending、Interbank borrowing、asset securitization、Issuance of financial bonds、Transfer of lease receivables, etc.。In addition to capital, the main source of funds for financial leasing companies is bank borrowings.，We are also exploring the securitization of high-quality leased assets.、Transfer of lease receivables, etc.。 but，The entry threshold for financial leasing companies is relatively high。
Financial leasing company
Require
：The minimum registered capital limit is 100 million yuan，The sponsor is a commercial bank，Total assets at the end of the past year shall not be less than 80 billion yuan。The sponsor is registered in China、Large enterprises whose main business is manufacturing products suitable for financial leasing transactions，The operating income in the past year is no less than 5 billion yuan。The sponsor is a financial leasing company registered outside China with independent legal personality，Total assets at the end of the past year shall not be less than 10 billion yuan。
A leasing person in South China said，Leasing companies actually lack supervision，In this case，Only small and medium-sized leasing companies have certain flexibility and room for survival.。Rely on flexible and innovative transaction structures、Credit structure strives for survival space。And "Strict management will kill everyone"。
“Transforming from subject supervision to functional supervision and behavioral supervision，Who is the regulatory body is not the core issue，The key is to clarify the market function positioning of the regulated entities，Positioning of different market functions，Different trading methods implement different supervision methods。
Qu Yankai, a well-known domestic financial leasing expert, said，“Credit should be clearly defined as credit-based financing(Commonly known as：Financing on the right)，And financial leasing、Factoring、Pawn is an investment based on real assets(Commonly known as：Financing on the left)。” Factoring、The pawn industry is in pain “If it is a company operating legally and compliantly,，no big impact。Playing on the edge，for real estate、Local government financing platform financing may be strictly investigated，affected。
"For adjusting factoring regulatory agencies，Some people from factoring institutions believe that，Factoring business in China started with bank factoring，But bank factoring is not good，Only then can commercial factoring business be divided。If it is placed under the management of the China Banking Regulatory Commission，how to manage，Who manages，Do you have professional management capabilities?，Requires a question mark。
The reason is，Among “quasi-financial” companies，Relative to the rapid expansion of asset scale in the leasing industry，Bank factoring and pawn industry in pain，Commercial factoring is growing rapidly。 Factoring refers to factoring(Bank or commercial factoring company)It is based on the accounts receivable generated by the transferee enterprise from selling goods or providing services.，Trade finance provided、Sales account management、Accounts receivable collection、Credit risk control and bad debt guarantee services。
As long as there is trade and credit sales，Factoring can exist，It works for all types of businesses。 According to the China Banking Association、Bureau of Statistics data calculation，By the end of 2025，The factoring business volume of member units of the Factoring Committee of the Banking Association is equivalent to RMB 1.72 trillion.，A year-on-year decrease of 40.9%。 compared to，Number of registered commercial factoring companies in my country、Business volume and financing balance have doubled for four consecutive years。
According to statistics from the Commercial Factoring Professional Committee of the China Association for Trade in Services，By the end of 2025，There are 5,584 registered commercial factoring companies nationwide.(Excluding the number of canceled and revoked enterprises)。According to other calculations，2025The annual commercial factoring business volume in my country exceeds 500 billion yuan，Financing balance exceeds 100 billion yuan，Serving more than 100,000 small and medium-sized enterprises。
21Century Economic Report reported on January 10 this year，Commercial factoring develops rapidly，But facing four kinds of "pain" besides prosperity。include：Core enterprise occupancy
Advantages
status，Unwilling to confirm rights for factoring companies；Financing difficulties for factoring companies；As well as tax reform and vicious competition in the same industry,。
According to calculations by the Commercial Factoring Professional Committee of the China Association for Trade in Services，2025The number of commercial factoring legal entities that have opened nationwide in 2017 is nearly 1,100.，The proportion of open businesses reaches 20%。Qu Weixi, deputy director of the Institute of International Trade and Economic Cooperation of the Ministry of Commerce, said in March this year，Only 200 to 300 companies in the commercial factoring industry have stable business and reached a certain scale.。
We are also faced with low awareness of the commercial factoring market.，Difficulty in starting business；Insufficient credit reporting resources，The credit system is imperfect，Limited risk control conditions；Poor information exchange，hinder cooperation between enterprises；Talent shortage，policy、Regulations need to be further improved and other issues。 The pawn industry is facing a decline in total assets and profits.。
According to the Ministry of Commerce’s National Pawn Industry Supervision Information System，As of December 2025，The total assets and total amount of pawns in the national pawn industry have declined.，Profitability has fallen sharply，The overall business risk of the enterprise is at a low level。 Specifically，By the end of 2025，There are 8,280 pawn companies nationwide，Total corporate assets are 164.64 billion yuan，A year-on-year decrease of 2.1%；Net profit 1.01 billion yuan，A year-on-year decrease of 60.2%。
Ministry of Commerce said，Pawn companies mainly use their own funds to operate，Risk conductivity is low，It is still difficult for pawn companies to obtain financing from banks。As of the end of December 2025，The balance of bank loans across the industry is 3.77 billion yuan，A year-on-year decrease of 13.7%，Accounting for 2.3% of the total assets of pawn companies，still at a low level。
The balance of overdue loans in the pawn industry is 12.25 billion yuan，The loan overdue rate is 12.8%，A decrease of 0.8 percentage points from the same period last year。 For supervision，The huge number of supervised objects will test its capabilities。 By the end of 2025，finance lease、commercial factoring、The number of pawn companies is 6158、5584Home、8280Home，More than 20,000 in total，Total assets are less than 2.5 trillion。
"Even if the local financial office visits a house every day,，I can't control it either。"Some institutional sources pointed out that，Insufficient regulatory capacity of local financial offices，Expansion of regulatory scope，will be a huge test。
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