China to revise financial leasing regulation to curb risks

BEIJING, Jan. 5 (Xinhua) -- China is amending market rules for the financial leasing sector to intensify supervision, improve financial services, and prevent and defuse risks.

The National Administration of Financial Regulation said Friday that it is soliciting public opinion about a draft revision to the existing regulation on financial leasing companies that took effect in 2014.

The new version of the document, which comprises 96 articles in nine chapters, adds and improves risk management and operation rules for financial leasing companies.

The draft requests financial leasing companies to return to the main business of leasing, raises standards for market entry, and accentuates the prevention and control of risks.