China’s banking watchdog has eased regulations on financial leasing firms to allow them to expand their business and establish units under a trial scheme, the official Xinhua news agency reported Monday, citing Li Jianhua, director of the regulator’s non-bank financial institutions supervision department. The new rules cover qualified commercial banks, domestic manufacturing firms, overseas leasing firms and overseas financial institutions. They will be allowed to invest in fixed income securities and hold at least 30 percent of the units. A public consultation is under way and will end on Jan. 14, the report said.
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