Submitted comments to Shanghai Municipal Regulatory Financial Bureau on the Interim Measures for the Supervision and Administration of Shanghai Financial Leasing Companies (Draft for Comments)

2021-03-04 | Shanghai

On 4th March, the European Chamber's Non-banking Financial Institutions Working Group and the Automotive Working Group submitted comments to the Shanghai Municipal Regulatory Financial Bureau on the Interim Measures for the Supervision and Administration of Shanghai Financial Leasing Companies (Draft for Comments). The Measures aim to regulate the operation of financial leasing companies in Shanghai, strengthen the supervision and management, prevent and reduce risks, and promote the sustainable and healthy development of the industry, and be in accordance with the "Company Law of the People's Republic of China" and "Shanghai Local Financial Supervision and Administration Regulations" and the “Market Access Negative List” issued by National Development and Reform Commission(NDRC) and the Ministry of Commerce (MOFCOM), and “Interim Measures for the Supervision and Administration of Financial Leasing Companies (Yinbaojianfa [2020] No. 22) “ issued by the China Banking and Insurance Regulatory Commission (CBIRC).