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- Being Invited as a Guest Speaker of Shaanxi Hong Kong Finance Lease Service Cooperation Conference;
- Exploiting Business Opportunities in Hong Kong and China |
HONG KONG, Oct 20, 2015 - (ACN Newswire) - Chinlink International Holdings Limited ("Chinlink", HKSE Stock Code: 0997) and its subsidiaries (collectively the "Group") has been proactively adopting to the ever-changing environment. With the provision of diversified financial products, including finance lease, financing guarantee services, etc., the Group endeavours to provide one-stop, tailor-made financial solutions to its customers.
 | | Chinlink Focuses on Development of Finance Lease Business |
On 21 May 2015, the Shaanxi Provincial Department of Commerce of the People's Republic of China (the "PRC") granted Chinlink the right to establish a wholly foreign-owned enterprise ("WFOE") with a registered capital of US dollar 30 million. The WFOE will mainly carry out finance lease business, and provide related financial solutions in the PRC. Along with the rapid economic growth in the PRC, the small and medium enterprises (the "SMEs") play an increasingly significant role in the economy. Even though the operation situation remains fairly satisfactory, the SMEs are in often times restricted by their rather small business scale, making them unable to provide an adequate amount of pledging assets to obtain bank loans. Under the PRC's favourable policies in helping the SMEs, the non-banking financial institutions are encouraged to provide solutions to the SMEs, and finance lease service is one of those in great demands. Finance lease eases the financial burden of SMEs in acquiring equipment instead their capital can be spent on improving the business operation and expansion. This in turn contributes significantly to the PRC's economy.
According to the information from Ministry of Commerce of the PRC, the penetration rate of the finance lease market in PRC remains considerably low between 3% and 5%. Being benefitted from the establishment of the free trade zone in recent years, the finance lease market has expanded tremendously. As of the end of 2014, the number of finance lease entities in the PRC increased by 88.3% to 2,045 (as of the end of 2013: 959). Total asset of the entities amounted to RMB 1,010 billion, representing an increase of 26.2% from the corresponding period in the previous year. It is estimated that the total business volume will reach RMB 5,000 billion after 2-3 years, making the finance lease market in the PRC the largest in the world. In addition, there will be a strong capital need results from the development of "One Belt One Road" policy, Chinlink is confident that the finance lease business in Shaanxi will thrive in the future.
Being invited by the Shaanxi People's Government to be the guest speaker of the "Shaanxi Hong Kong Finance Lease Service Cooperation Conference", Mr. Siu Wai Yip, Executive Director of Chinlink, shared his views on the prospect of cross-broader finance and finance lease businesses between Shaanxi and Hong Kong. The event was held on 20 October 2015 in Hong Kong Convention and Exhibition Centre. Ms. Wang Lixia, Vice-Governor of Shaanxi Province, led the Shaanxi economic and trade delegation to participate in the conference. Mr. Siu expressed his full confidence in the future of the finance lease business, "the finance business segment has been one of the core growth drivers of our Group. With an aim to achieve diversified growth and development, we strike to expand our business scope. Unlike the previous finance businesses we mainly focused in Shaanxi province, there is no geographical restriction in finance lease companies operation. As a result, our Group can fully expand to the market in the PRC, and enjoy capital leverage of 10x. We believe the huge development potential of the finance lease business will bring in a new revenue stream and as an additional growth drive to our Group. Together with the existing financing guarantee services and supply chain financing services we provide, we are confident that the addition of finance lease service will lead us to a bright future. Looking forward, we will continue to expand our services, including micro-credit license application, in the finance segment, so as to enhance the competitiveness of finance business of our Group".
Chinlink will closely follow the government policies issued by the PRC, in the hope to further expand its finance business segment in due course. As the core business base of the Group, the Shaanxi province is also the starting point of the Silk Road. Being benefitted from the development strategy of "One Belt One Road", the Silk Road will be constructed as a finance avenue that penetrates through the whole PRC as well as extends to the countries abroad. The Group is confident that in the upcoming future, more high-quality enterprises will invest in the Shaanxi market, which will open up a huge room for development for the diversified finance business of the Group.
Contact:
Chinlink International Holdings Limited
Joanne Lee
Corporate Development Director
Tel: +852 2168 0778
Email: joannelee@chinlinkint.com
Website: www.chinlinkint.com
Rebecca Chan
Corporate Communications Manager
Tel: +852 2168 0799
Email: rebeccachan@chinlinkint.com
Website: www.chinlinkint.com
DLK Advisory Limited
Isabella Lam
Tel: +852 2857 7101
Email: isabellalam@dlkadvisory.com
Chermaine Chan
Tel: +852 2857 7101
Email: chermainechan@dlkadvisory.com
Topic: Press release summary
Source: Chinlink International Holdings Limited
Sectors: Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network
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