Month: September 2019

China Financial Leasing Industry Report, 2014

June 04, 2014 : Market Reports on China presents the new report, on “China Financial Leasing Industry Report, 2014”. Business environment of financial leasing industry in China, including policy environment, economic environment, social environment as well as the development of global financial leasing industry.

Since 2013, China’s financial leasing industry has continued to maintain rapid growth, with total turnover reaching approximately RMB2.35 trillion as of the end of March 2014, an increase of RMB250 billion from RMB2.1 trillion at the end of December 2013. The number of enterprises totaled 1,137, an increase of 111 ones compared with 1,026 at the end of 2013. Among them, the number of foreign leasing companies grew faster, with the total number amounting to 990, an increase of around 110.

In terms of leasing business penetration of key application areas, financial lease presented the highest penetration rate in construction machinery industry, at nearly 16%, which was mainly because that machinery manufacturers were leasing companies and a larger portion of professional leasing companies were involved and therefore had remarkable financial advantages. In 2013, financial leasing turnover from engineering machinery exceeded RMB100 billion.

What comes next is the financial leasing of aviation industry, whose leasing business penetration stood at roughly 10%. With capital advantages, banking leasing companies had a good performance in this field. Take ICBC Leasing for example. As of the end of 2013, the companys aircraft leasing assets exceeded RMB40 billion, with the airplanes delivered 151, surpassing CDB Leasing as the company with largest aircraft leasing asset value.

Since 2013, medical device and automotive financial leasing industries with lower leasing business penetration have grown at the fastest pace, which is mainly because of the vigorous development of this industry and the involvement of professional leasing companies. Since its layout in medical industry in 2001, Far East Horizon had operated a total of nearly 3,500 financial leasing projects in medical industry by the end of June 2013.

And what about automotive financial leasing industry? Not only professional financial leasing companies, but also financial leasing companiesmainly including banks, car makers and dealers were involved in this field. As of the end of 2013, CDB Leasing, one of banking financial leasing companies, had cooperated with some car makers that cover first and second-class commercial vehicles, with the leasing business transaction volume from commercial vehicles reaching RMB10.3 billion and business volume from leasing approximately RMB4.4 billion. Furthermore, the number of vehicles involved exceeded 30,000 units, and the number of leaseholders was close to 9,000.

China Financial Leasing Industry Report, 2014 by ResearchinChina focuses on the followings:

Business environment of financial leasing industry in China, including policy environment, economic environment, social environment as well as the development of global financial leasing industry;
Operation of China’s financial leasing industry, including the enterprises type and number, business transactions, registered capital, earnings, regional distribution, as well as the problems in the industry development;
The key application areas of China’s financial leasing industry, including aviation, shipping, engineering machinery, medical devices, printing equipment, rail transportation equipment, telecommunications and IT industry, security and protection industry, radio and television industry, and automobile industry;
11 financial leasing companies, 7 domestic-funded leasing companies and 6 foreign-funded leasing companies in China, including operation, financial leasing and financing channels of the enterprises, etc.

Table of Content:

1. Overview of Financial Leasing Industry
1.1 Definition and Characteristics
1.2 Business Forms and Applications

2. Operating Environment of China Financial Leasing Industry
2.1 Policy Environment
2.2 Economic Environment
2.2.1 Economy Growth Slows down
2.2.2 Fixed Asset Investment Growth Retreats
2.3 Social Environment
2.4 Global Financial Leasing Industry Development
2.4.1 Overview
2.4.2 USA
2.4.3 Japan

3. Operation of China Financial Leasing Industry
3.1 Number of Enterprises
3.1.1 Type
3.1.2 Quantity
3.2 Business Volume
3.3 Registered Capital
3.3.1 Financial Leasing Enterprises
3.3.2 Domestic-funded Financial Leasing Enterprises
3.3.3 Foreign-funded Financial Leasing Enterprises
3.4 Enterprises Profitability
3.4.1 Profit Model
3.4.2 Profitability
3.5 Regional Development

The Growing Importance Of International Accounting Standards

Arthur R. Wyatt the former chairman of the International Accounting Standards Committee, and responsible for work in several important projects regarding international accounting standards (IASC). The IASC is a committee that issues international accounting standards. The International Federation of Accountants (IFAC), are responsible for issuing auditing, ethical, educational, and public sector standards. The IFAC began out of the need to address broader professional issues than the IASC could handle.

Wyatts goal with the IASC is to reach the accounting firms used by multinational companies and their executives. Today, the standards issued by the IASC include most of those practices already implemented by those following the guidelines of the American Institute of CPAs Accounting. As a result of the alternatives offered in IASC statements, the issuance of international standards has had no effect on those practicing in the U.S. Other countries, however, use ISAC standards rather than incur the cost of maintaining a standard-setting body. This is thought to be the case because these countries eliminate the alternatives offered. A project in 1988 set out to eliminate many alternatives that make some U.S. practices unacceptable internationally.

Wyatt asserts that one of the major reasons for reducing the range of acceptable accounting alternatives is the increase in cross-border financing. The IASC wants to eliminate any confusion that could occur between countries. Bad lending decisions, high fees or increased interest rates could result as well due to the apparent differences. If the IASC successfully executes their project for improvements, other global countries will adopt international accounting standards needed for raising capital abroad.

What Wyatt gains from his experience with the IASC is a demonstration of diverse cultures agreeing on accounting matters and an environment created where practicing professionals recognize the responsibility each has to carry out the standards as they were intended. Wyatt believes the time is right for what the IASC is trying to do. As they come closer to whittled acceptable practices, U.S. CPAs must have a willingness to listen to the rationale the IASC intends in its changes. Wyatt believes that the IASC and accounting practitioners can make progress together.

Exposed! The Legal Loophole That Lets You Wipe Out All Of Your Credit Card Debt.

There are literally millions of credit cards in the world today and even with the current credit crunch, the numbers of cards being issued is still on the increase, so the ramifications for the credit card industry are immense and for them at least, difficult to comprehend.

During the good times, credit card companies issued cards under the guidelines of the Consumer Credit Act 1974. However, in their greed to attract even greater numbers of customers each month, they forgot to ensure that their consumer credit agreements they issued to customers were legal and above reproach. This situation changed in April 2008 with the creation of new rules and regulations that fully covered every lending institution that issued a consumer credit agreement.

However (and this is the good part), there are literally millions of potentially flawed agreements in existence that mean you, the consumer, can wipe out your total credit card debt in an instant, legally and ethically/

The other thing to consider is that legal loophole applies to all unsecured debt such as personal loans, car finance, mortgages and PPI. They all have to abide by the Consumer Credit Act (CCA) 1974 and if they do not, then they could be left open to all of their customers making a claim against the vaibility of their credit agreement.

This is the hottest topic in the financial services industry at the moment as credit card companies frantically look to avoid claims and the potential for huge losses. They are full aware of this situation and are bracing themselves for the fall out as this dwarfs anything we have seen from the ‘reclaim your bank charges’ scneario that has been on the news for the last 12 months.

The process itself is simple to administer if you know how and if you have the right Barrister contacts. The Barrister in question must have an understanding of the legal process and the ensuing legal complexities of wiping out credit card debt. But remember, it is happening now and hundreds of thousands of people have started to wipe out their debts and ensure that they can start living a debt free life once again.

Bad Credit Loans California A Helping Hand When Needed!

In case you want to meet some personal financial needs and looking forward to take loan for the same then bad credit loans California can be a great idea for you.

Loans are basically a financial assistance which will assist you to overcome your financial crises. People that are going through poor economic records they can simply opt for bad credit loans California. These are the kind of loans that will assist the poor creditors to develop their economic stature and begin with a new angle.

Bad credit loans California can be taken in secured and unsecured manner. You can take the advantage of both on the basis of your needs. Through secured loan you will require to pledge the collateral for your loan. The collateral can comprise of any kind of property or valuable asset. This pledged asset will work as the security of the loan. In case you are not in the position to pledge property then you can go for unsecured bad credit loan that is collateral free.

These are the kind of loans that are available for all types of poor creditors. People that are going through poor records because of defaults, bankruptcy, arrears, etc can take the advantage of these kinds of loans. The people that have low credit can go for secured and unsecured bad credit loans. These both alternatives of the loan offer both tenants and home owners an opportunity to take loan when they do not have the needed credit rating.

It can be said that bad credit loans California is advantageous for poor creditors. You can make use of these loans for your various personal purposes. This money can be utilized for meeting your medical bills, credit card bills, holiday trip, renovation, wedding expenses and other such kind of expenses that you need to incur. Although if you have a bad credit score then too you can meet all these expenses with the help of these loans.

These are the kind of loans that will allow you to meet with different economic issues. You can pay off the loan amount through the flexible repayment terms of the loan and develop your economic well being. Usually this loan is available with high interest rate. Hence it is essential for you to know about the advantages and disadvantages of offering bad credit loans.

In case you are looking forward to take these bad credit loan California then you will be glad to know that there are lot of providers of these loans available today. In order to search for the best one it is essential for you to carry out detail research.

Automatic Direct Auto Insurance Quote

Acquiring insurance coverage may not be as easy as you expect, especially if this is your first time. Young drivers, who were previously included in their parents policies, need to have their own auto insurance coverage sooner or later. There are some basic requirements such as credit card and saving accounts; many insurers also require applicants to actually have a home. Even when the basic requirements are already fulfilled, young drivers often have to pay quite high premium due to various reasons, for example no home ownership or simply lack of driving experience. Direct General Auto Insurance (or simply referred to as Direct Auto Insurance) has its own method to make the entire processes very easy. To get Direct Auto Insurance quote, applicants do not even need to actually have credit card or saving accounts, meaning young drivers can apply with good chance of approval.

Driving experience is an also an important factor to determine insurance rate. Without enough experience, insurance companies will treat young drivers as “high-risk”, meaning they should purchase non-standard coverage which is always more expensive than its regular counterpart. When acquiring Direct Auto Insurance quote, please remember that you can use the discount as long as you are eligible for it. For young drivers (especially those without occupation or home ownership yet), the “good student” discount is an excellent option to reduce premium by up to 10%.

You can ask for Direct Auto Insurance quote online or at the companys branch offices spread across 13 states. There are more than 400 branch offices, and you can even acquire quote by phone. Even without credit card or checking account, you can pay the premium bill quite easily, too. In fact, auto direct insurance allows you to choose any specific date in a month to pay the bill, plan your own schedule, installment plans, and even payment methods in including online, offline, and even via phone too.

Young drivers can acquire the quote online and have it delivered to home addresses. In case you are not sure about what type of coverage to purchase, Direct Car Insurance provides you with Virtual Insurance Agents including Coverage Assistant and Life Coach; both are designed to help you to understand what coverage to purchase and make sure that your choices comply with states regulation. Those virtual agents will ask some simple “YES or NO” questions and give suggestions based on your answers. Recommendations are given instantly and automatically when you are asking for quotes. However, it is possible to change the companys recommended coverage plan and simply purchase those that you need the most.