John McGill
CHINA: "VAT concessions for exported services announced" report. 6-page report by KPMG.
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backCHINAtalk May, 2012
Productivity for Lease: Machinery and Equipment Leasing in China
Foreign machinery and equipment players are failing to make full use of a particularly valuable yet overlooked financing method in China. We believe that financial leasing will help to expand sales reach and convince Chinese customers to purchase a machine or equipment.
Already a common practice for construction equipment, machine tool makers are now starting to realize the advantages of helping customers to purchase a more expensive piece of equipment. Despite the enormous underlying potential, financial leasing in the machine tool market has a penetration rate of only 3%, significantly lower than in European or US markets.
Key takeaways
- Financial leasing will help to penetrate the thousands of smaller machine tool customers, such as SMEs and job shops which have trouble securing bank loans.
- There are financial leasing companies in China that machine tool players could partner up with, but there is only a limited number available and interested in such services at this point.
- 3 systemic barriers persist: Immature legal framework for leasing, lack of knowledge among potential lessees, and China’s inadequate credit information system.
- Industry experts believe that the system and industry is maturing, and machine tool players should consider long-term strategic cooperation arrangement with a financial leasing company.
Source: Inter China Consulting - GAI
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