Financial Leasing Profits Surge to 10 Billion Yuan in 2012
The 20 financial leasing companies tracked by the China Banking Regulatory Commission posted a combined 10 billion yuan in net profits in 2012 after growing more than 100% annually during the past 5 years, according to CBRC assistant chairman Yang Jiacai. Total assets of the 20 companies amounted to 840 billion yuan as of March 2013. Nomura Securities says in its China/HK Financials report that it believes financial leasing might become a new source of financing for corporate China.
Implications of China's Pollution Curbs
China's recently introduced measures against air pollution, the strictest in history, will lead to a reduction in coal consumption growth, faster growth of gas, solar, wind and nuclear energy, faster adoption of clean technologies, faster growth of public transportation and faster crackdown on inefficient capacities in the steel, cement, aluminum and glass sectors, Deutsche Bank says in its report titled Beginning of the "Big Bang" Anti-Air Pollution Program.
Growth of Real Estate Loans Slow
China's outstanding loans associated with the property market amounted to 12.1 trillion yuan as of the end of 2012, up 12.8% from a year earlier, Hexun reported, citing figures from the People's Bank of China. The growth rate was 1.1 percentage points slower than in 2011.
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