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Finance lease in Review of the Development of Construction Machinery Industry


     May 2004 Caterpillar financial leasing agency set up in Beijing, the first time into the financial leasing of construction machinery in China,booster cables however, through nearly two years of exploration and learning, battery clip the Chinese construction machinery company was the first time into a finance lease threshold, April 20, 2006, Zoomlion by construction machinery industry first financial lease "license."
     With the commencement of joint finance leasing business, industry, businesses see the market prospects, began to take to the tide of financial leasing,tow rope financial leasing since Ye Wu Zai Xun Su China launched products Xiao Shou Wei Cujin Gongchengjixie played a significant role.
     Promising as a market sales model, we need to remind ourselves of finance leases in the field of construction machinery in China History, ratchet tie dowm get some inspiration and warning ... ...

      1, Caterpillar set up financial leasing company in Beijing.
May 2004 Caterpillar Inc. last week announced the establishment of financial leasing sector in Beijing and will be fourth quarter of the year to provide financial leasing services. Its become the General Electric (China) financial leasing company in the second by the Chinese Ministry of Commerce approved the establishment of wholly foreign owned financial leasing company.
Visit the new chairman and CEO of Caterpillar, said Owens, the new set up financial leasing company, marking the company to expand its global business model in China as a milestone in this business model has been in 35 countries implemented. Owens believes that China is the world's fastest growing market for construction machinery, Caterpillar's sales in China in 2002 was 500 million U.S. dollars, is expected to reach 1 billion U.S. dollars in 2004, 2010, will reach 2 billion U.S. dollars.

    Second, Caterpillar China Financial Leasing signed the first single.
November 16, 2004, as the world's largest earthmoving machinery and construction machinery manufacturers --- Caterpillar (Caterpillar) sent from 30 years ago, entered the Chinese market to participate in the largest exhibition facilities in Shanghai The 2004 China International Construction Machinery, Building Material Machines, Construction Vehicles and Equipment Expo.
Meanwhile, Caterpillar (China) Financial Leasing Co., Ltd. announced at the show with its first customers entered into finance lease contract. Caterpillar (China) Financial Leasing Co., Ltd. is owned by two companies wholly owned by Caterpillar Caterpillar Financial Services Corporation and Caterpillar (China) Investment Limited.

    Third, Zoomlion be construction machinery industry first financial lease "license."
April 20, 2006, the Ministry of Commerce, State Administration of Taxation jointly issued a notice to confirm the emerging Union of Beijing Construction Machinery Leasing Co., Ltd. and other enterprises finance lease for the second batch of pilot enterprises. Zoomlion Heavy Branch I in both Beijing in Lian holding new construction Jixiezulin Co., Ltd. is the first of a Gong Cheng Machinery Xing Ye Huo Degai qualified enterprises, is Woguomuqian have all approved the only company that qualified manufacturers Beijing's enterprise. The qualifications are allowed to make in the new joint company in sales, leasing, credit sales, marketing and other resources used combinations possible. At the same time, through existing trade patterns and the new service structure, use of information flow, material flow, capital flow, credit flow to all sectors of the organic series, the company in building a perfect modern marketing system in the same way a major step forward .
Procurement of equipment by finance lease will provide users with a variety of facilities and interests. The finance lease was qualified, as the new company together to create new economic growth point, the development of new business model paved the way for the company's long-term development and enhancement of international competitiveness will also have far-reaching effects.

    4, Long Engineering (Shanghai) financial leasing company officially operational.
July 2007, as the domestic construction machinery industry of China Ministry of Commerce approved the second was engaged in financial leasing business, wholly foreign-owned enterprises, Long Engineering (Shanghai) Co., Ltd. started to enter the formal financial leasing operations orbit.
   Leasing industry to the external environment is becoming increasingly well established that long work the main reason for financial leasing companies, finance leasing companies and work long the controlling shareholder of the Chinese Dragon Holdings Limited, the rapid development of industrial, financial strength, industrial leasing business for the long paper provided solid protection. According to the characteristics of finance leases and financial instruments, the holding company's major needs, leasing companies Lung Function of workers have been identified, namely, long work to achieve a major construction machinery sales model changes - finance lease sales.

    5, the first construction equipment financing leasing forum held in Qinghai.

June 26, 2008, the first financial leasing of construction machinery in China Forum held in Xining, Qinghai. From the country's construction machinery manufacturers, sales agents, leasing and rental industry experts, operators of more than 70 people attended the meeting.
At the meeting, the general manager of finance leases associated Wanjun done "era rental companies," keynote speech, introduced the development process of financial leasing, financial leasing companies, and the advantages of the major difficulties faced and solutions, received participation representatives of the enthusiastic response. Through the forum, in conjunction with financial leasing company Shougang Construction Group, China Petrochemical construction companies and other Large Construction Enterprises depth exchanges and full communication, and actively promote the Zoomlion the financial lease.

    6, Xugong for financial leasing pilot passed the national examination.
October 2008, Xuzhou Construction Machinery Group reported financial leasing pilot for smooth passage of the State Administration of Taxation Ministry of Commerce and the audit, the pilot became a financial leasing company.
    As the leading enterprises in construction machinery industry, Xuzhou Construction Machinery Group achieved rapid development in recent years, while business and actively explore new areas. Construction machinery rental market to seize opportunities, improve market competitiveness, in August 2007 XCMG set up leasing company invested 45 million yuan, in June 2008 capital increase to 170 million yuan. XCMG lease beginning in July 2008 for finance lease qualification work; in August 2008 to report on the application submitted to the Ministry of Commerce, and received the Ministry of Commerce and State Administration of Taxation of due diligence; in October 2008 the Ministry of Commerce and the total tax Board approved and issued documents.
Access to finance lease XCMG qualification for the launch paved the way for financial leasing business. According to XCMG development planning, Xugong finance lease rental company size in 2008 will reach 350 million yuan, 1.5 billion for 2009, 2012, reached 50 billion yuan.

    7, VAT tax: banking on financial leasing of construction machinery.
From January 1, 2009, effective implementation of "The People's Republic of China Interim Regulations on Value Added Tax" (the "Provisional Regulations), state tax authorities will allow businesses to offset VAT contained in the newly acquired equipment. The "Provisional Regulations" in the act is not clear whether a finance lease sale, which engaged in how to define the nature of finance leases, which will directly determine the development of financial leasing companies can also be given high value-added tax deduction. For a machine easily have several hundred million for the leasing of construction machinery, which is especially important.
   To a company to buy 10 million yuan in the machinery and equipment, for example, if the finance lease over three years through the purchase, even though companies can pay in installments, but in addition to more than 300 million annual rent payment and other services in addition to to pay 17% VAT. And if these companies to buy equipment, they must first pay all costs, but you can enjoy the value-added tax deductible, therefore the total acquisition cost will save a lot.
As the "Provisional Regulations" in the act is not clear whether a finance lease sales, it would raise concerns financial leasing industry in general. A construction machinery rental companies are worried and said: "Now many companies are beginning to plan this the accounts, many companies refuse to sign a new procurement contract, so go on, device manufacturers to rent consignment sales methods Jianghui abandoned! "
Foreign Investment Enterprises Association of China Business Council executive vice president of leasing for the author forget document accounts Quyan Kai. If the rental company to rental company 10 million yuan of goods. VAT deduction can not be the case, companies need to pay 1.7 million yuan in value-added tax. The financial leasing business value-added tax, if applicable, the goods VAT tax payable to zero, taxable services provided by VAT rate of 5% of cases, companies have to pay tax of only 1.178 million yuan, saving 52.2 million yuan.

    8, Hill pushed shares: test the water finance leases.
March 21, 2009, Hill pushed shares announced an investment plan, to be invested 180 million yuan in Beijing Shantui Leasing Co., Ltd..
"Leasing Co., Ltd. invested Hill pushed against the current world financial crisis and the economic situation in the rapidly changing situation, the introduction of a new credit sales model, aimed at expanding the market share of products, providing customers a full range of services." Hill pushed shares secretaries to directorate Wang Qiang said.
In response to the crisis, Hill pushed shares are taking various measures, one of which is to reform the original sales model. Financial crisis for downstream enterprises lack funds to purchase machinery, finance lease by the downstream firms blitz, Hill pushed shares that "actively create corporate finance leasing platform, and vigorously promote the conduct of leasing business, improve marketing model, to create a broader market space." And its specific measures, is to invest in the establishment of mountain push Leasing Co., Ltd..
     9, Zoomlion signed the first single foreign financial leasing business.
 Zoomlion finance leases (Australia) Ltd. in Brisbane, Australia has signed the first contract of financial leasing, which is native from China's financial leasing company, signed the first overseas financial leasing contracts, marked Union finance lease officially launched the global service system.
Sum of financial leasing contract, the subject matter is 43 meters in the United pump. From April 3, 2009 signed the first formal contact, which lasted nearly a month.
Zoomlion Assistant to the President, Wan Jun, general manager of finance leases introduced in the large background of the global financial crisis, China could Jie Zhu's own liquidity advantages, the use of funds in China to help Chinese products to the world, occupying the international market. Vanda Heavy Division Rongzi leasing company is actively advancing finance leases global service system, Jiushiliyong in Lianzhong Section Zai good credit China's banking system, with Chinese financial institutions of Liu Dong of strong advantages, raising money, Tong Guo market in Mubiao to provide financial leasing and other financial services to realize the tremendous role in promoting equipment sales.

    10, China's first overseas registration of financial leasing companies settled in Australia.
May 29, 2009, Zoomlion Australia - New Zealand Limited, Zoomlion finance leases (Australia) Ltd. in Queensland, Australia Gold Coast City opened. Appointed Consul General of China in Brisbane were flat, Zoomlion Chan, Chairman and CEO of pure new, senior president Zhang Jianguo, Chun-Yang Wang, Ming Yan Xiong, Vice President, Assistant to President Chen Peiliang, Wan Jun, Brisbane, some government officials and representatives from the Joint Australian states and other international customers and Phoenix media attended the opening ceremony. The opening marks the Zoomlion finance leases (Australia) Ltd became the first registered overseas Chinese financial leasing companies.
Appointed Consul at the opening ceremony were flat, said the current global economic crisis is spreading Zoomlion set up financial leasing companies in Australia, the full show business with Australia to strengthen cooperation and good will tide over the crisis. Zoomlion financial leasing contract, the success of the first document signed, but also to fill gaps in China's overseas business.

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