China is going to completely open its leasing industry to foreign investors in the near future, said the Ministry of Commerce in Beijing.
The ministry has recently published a new regulation for foreign investment in the leasing industry, amending the previous provisional regulation implemented in 2001. The regulation will come into force on a trial basis on 5 March.
The fresh moves were made to meet the timetable China pledged to the World Trade Organization (WTO).
The regulation means foreign investors will be allowed to deal with leasing and financial leasing in terms of wholly foreign-owned companies.
Meanwhile, the regulation has lowered the capital threshold for foreign-funded leasing companies.
In line with China's commitments to the WTO, the minimum registered capital of a foreign financial leasing company will be reduced from US$20m to US$10m.
