China's financial leasing industry has seen robust growth as the balance of financial leasing contracts reached 3.98 trillion yuan by the end of September, rising 780 billion yuan from the beginning of the year, according to a report released by the China Leasing Alliance and Tianjing Binhai Financial Leasing Research Institute.
Yang Haitian, convener of China Leasing Alliance, said the number of financial leasing companies, registered capital and business scale of the industry all increased in the first three quarters. By the end of September, the number of financial leasing companies reached 3,742, an increase of 1,540 from the beginning of the year and the total registered capital grew 555.6 billion yuan to 1.2167 trillion yuan.
Yang predicted that the industry would keep rapid growth during the next five years, and the industry's total business scale would top 5 trillion yuan in the first quarter of 2015.
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