On November 8, JIC Leasing (Tianjin) Co., Ltd. was officially approved to be a pilot Chinese-funded financial leasing enterprise.

Following the approval, JIC Leasing (Tianjin) is entitled to the same treatment as enjoyed by the pilot Chinese-funded financial leasing enterprises confirmed by the Ministry of Commerce and the State Administration of Taxation. After completing business scope expansion proceedings with the Tianjin Market and Quality Supervision Administration, it can engage in financial leasing and commercial factoring related to its principal operations. At the same time, its subsidiary will not be subject to the minimum registered capital restriction.

JIC Leasing (Tianjin) Co., Ltd., a wholly-owned subsidiary of JIC Leasing, has a registered capital of RMB 1 billion. It was founded in Dongjiang Free Trade Port Zone of Tianjin in May 2016. As a financial leasing service platform for emerging industries, the company shall leverage the advantages of China (Tianjin) Pilot Free Trade Zone and focus on developing the leasing business for emerging sectors of strategic importance, such as high-end equipment manufacturing, energy conservation and environmental protection, and new energy.