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January 17, 2012

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Push for finance leasing

SHANGHAI will push the development of finance leasing in a step towards becoming a global financial hub, a top official said yesterday.

But the related market still requires state-level regulators, said Fang Xinghai, head of the local finance office, at a session between officials and Shanghai People Congress deputies.

Congress deputy Ni Zhenmao, a professor at the Shanghai University of Political Science and Law, said the initiative had "great potential."

Finance leasing allows a customer to pay part of the value of a piece of equipment to lease and start using.


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