On August 22-23, MOFCOM held a national work conference on mortgage and finance lease industry in Hangzhou, summarized the achievements of the industry, and arranged the task of strengthening administration of the industry, so as to promote the sustainable and healthy development of mortgage and finance lease industry. Vice Commerce Minister Jiang Zengwei attended and addressed the conference.

Mr. Jiang said that since the reform and opening up, our mortgage and finance lease industry has been developing fast, industrial scale has been growing, service sector has been expanding, and operation mode has been innovated, which has played a significant role in accelerating economic development, satisfying financing needs of enterprises, and facilitating residents’ livelihood. By the end of June, there are 6,078 pawn brokers, with 48,000 staff nationwide; the industry reached a volume of 148.1 billion yuan in the first half of the year, and realized profit of 1.83 billion yuan, up by 32.8% and 21.3% respectively. There are nearly 400 finance lease enterprises nationwide, with a contract value of 1.28 trillion yuan, an increase of 350 billion yuan or 37.6%. As a special circulation means to provide financing and equipment lease service for residents and enterprises, the mortgage and finance lease industry has fully played the role of financing, and effectively addressed the financing difficulty of real economy and SMEs, becoming an important part of our diversified financing market system.

Mr. Jiang stressed that, with the general requirement of scientific planning, reasonable layout, and regulated development, while sticking to strict access and reinforced supervision and management, we should further strengthen industrial administration and services in such aspects as standardization and guidance, policy support, laws and regulations construction and service promotion, so as to create favorable conditions for enterprises development and give full play of mortgage and finance lease.

Mr. Jiang required that the commerce departments at all levels should be aware of the significance of the industrial administration to promoting the development of mortgage and finance lease industry, strengthen the sense of responsibilities, and practically fulfill the duty of industrial administration.

At the conference, representatives from commerce departments of Zhejiang, Beijing, Shanghai, Tianjin and other provinces and cities exchanged views; specialists from Shanghai Academy of Social Sciences and Shanghai Leasing Trade Association gave professional lectures. Totally 100 representatives from commerce departments at provincial and municipal levels, related departments of MOFCOM, regional industrial associations, and enterprises attended the conference.