Financial leasing companies in Shanghai's Lin-gang Special Area have been allowed to expand their business scope as part of a pilot program that aims to promote high-standard institutional opening-up and support the high-quality development of the leasing industry in Lin-gang.

A launch ceremony for the new policy was held on July 17. Officials from the National Financial Regulatory Administration (NFRA), Shanghai financial regulatory authority, Lin-gang Special Area Administration, and other entities attended the event.

This pilot program allows financial leasing project companies in Lin-gang Special Area to expand their business scope to equipment in the fields of new energy, power batteries, intelligent manufacturing, and industrial machine tools, which closely align with Lin-gang's development strategy and will further support the growth of the real economy.

In addition, thanks to the policy, the business entities now include special purpose vehicles (SPVs) set up by financial leasing companies across the country in Lin-gang, an innovative step backed by the NFRA to further advance the financial leasing industry in the area.

Innovative cases of financial leasing business in Lin-gang Special Area were also unveiled at the ceremony.

During the event, Lin-gang Special Area was officially designated as a pilot zone for comprehensively deepening the innovative development of financial leasing.

Six financial leasing companies, including ICBC Financial Leasing, signed agreements to be part of the first batch of pilot enterprises.