China General Administration of Financial Supervision and Administration: Financial leasing companies should establish policies to manage the entry of leased property and tenants and update them regularly

Zhitong Finance App learned that on December 5, the State Financial Supervision and Administration issued a notice to issue the “Administrative Measures on Financial Leasing Business of Financial Leasing Companies”. It points out that financial leasing companies should establish leased property and tenant entry management policies and update them regularly in accordance with national policies and regulatory regulations, in line with their own business development plans and risk appetite. Financial leasing companies should establish due diligence systems and management systems, standardize due diligence operation procedures, clarify due diligence work requirements, and ensure the independence, authenticity and effectiveness of due diligence. Financial leasing companies shall conduct objective, impartial, and careful investigations of leases, tenants, guarantors, collateral, etc. through effective methods and regulatory procedures, grasp the ownership and value of leased property, understand the operating, financial and credit status of tenants, guarantors and other credit-enhancing entities, and ensure that the financial leasing business is real and risk-manageable.

The original text is as follows:

Notice of the State Financial Supervision and Administration on Issuing the “Administrative Measures on Financial Leasing Business of Financial Leasing Companies”

Financial Supervisory Authorities:

The “Administrative Measures on Financial Leasing Business of Financial Leasing Companies” are now being issued to you. Please follow them.

State Financial Supervisory Authority

December 4, 2025

(This document is sent to relevant financial supervisory authorities, financial leasing companies, and auto finance companies)

Financial leasing company financial leasing business management measures

Chapter I General Provisions

Article 1 These Measures are formulated in accordance with laws, regulations and regulations such as the “Banking Supervision and Administration Law of the People's Republic of China” and “Administrative Measures on Financial Leasing Companies” to regulate the financial leasing business conduct of financial leasing companies, prevent operating risks, and promote high-quality development of the industry.

Article 2 A financial leasing company referred to in these Measures refers to a non-bank financial institution established with the approval of the State Financial Supervision and Administration that mainly operates financial leasing business.

Article 3 Financial leasing business carried out by financial leasing companies can be divided into direct leasing business and sale-leaseback business.

In the financial leasing business carried out by financial leasing companies, those that should be included in the accounting accounts of operating leases according to the provisions of the national accounting system are operating leasing businesses referred to in these Measures.

Article 4 The scope of leased property for financial leasing companies to carry out financial leasing business shall comply with the relevant provisions of the “Administrative Measures on Financial Leasing Companies”.

Article 5 Financial leasing companies shall follow the principles of compliance with the law, prudent operation, equality and voluntariness, fairness and honesty when carrying out financial leasing business.

Article 6 The State Administration of Financial Supervision and Administration and its dispatched agencies shall, in accordance with law, supervise and manage the financial leasing business activities of financial leasing companies.

Chapter II Due Diligence

Article 7 Financial leasing companies shall establish leased property and lessee entry management policies and update them regularly in accordance with national policies and regulatory regulations, taking into account their own business development plans and risk appetite.

Article 8 Financial leasing companies shall establish due diligence systems and management systems, standardize due diligence operation procedures, clarify due diligence work requirements, and ensure the independence, authenticity and effectiveness of due diligence investigations.

Article 9 Financial leasing companies shall conduct objective, impartial and careful investigations of leases, tenants, guarantors, collateral, etc. through effective methods and regulatory procedures, grasp the ownership and value of leased property, understand the operating, financial and credit status of tenants, guarantors and other credit-enhancing entities, and ensure that the financial leasing business is real and risk-manageable.

Article 10. Due diligence investigations shall be carried out jointly by at least two persons to conduct on-site investigations on leased properties and tenants, and form written reports.

For businesses with batch or standardized characteristics that can verify the authenticity of leased property and lessee related information through off-site investigation methods, financial leasing companies can simplify or not conduct on-site investigations, and should carefully determine the upper limit of business amounts that can be simplified or not carried out on-site according to factors such as region, industry, and type of leased property.

Article 11 Financial leasing companies shall investigate the eligibility of leased property, focusing on the authenticity, liquidity and risk mitigation effects of leased property to ensure that ownership of leased property is clear, specific, disposed of, has economic value, and can generate income from use.

Article 12 A financial leasing company shall objectively and comprehensively verify the ownership of the leased property to ensure that the ownership of the leased property is clear, and shall not use property that has been mortgaged, has disputed ownership, or has been sealed or seized by judicial authorities, or property with defective ownership as leased property. When a financial leasing company carries out sales and leaseback business, it shall ensure that the leased property is actually owned by the lessee and has the right to dispose of it.

Article 13 A financial leasing company shall investigate the specified information, physical state, delivery status, and relevant operating qualifications of the leased property. When financial leasing companies carry out operating leasing business, they should also investigate conditions such as value fluctuations, technology update cycles, core components, maintenance, insurance arrangements, redisposal cycles, and disposal channels of leased property.

Article 14 A financial leasing company shall establish and improve a system for evaluating the value of leased property, formulate management measures for the evaluation of leased property, and clarify evaluation procedures, evaluation factors and evaluation methods, etc.

Financial leasing companies should optimize the establishment of internal management departments, clarify the division of duties and responsibilities, and departments and personnel responsible for evaluating leased properties should maintain independence to ensure that the evaluation results are true, objective, and impartial.

The evaluation staff of financial leasing companies should have professional evaluation qualifications. Where it is necessary to entrust the evaluation to a third party agency, the rationality and credibility of the relevant evaluation methods shall be analyzed and verified, and external evaluation results shall not simply be used to replace one's own investigation, evidence collection, and analysis work.

Article 15 Financial leasing companies shall reasonably determine the value of leased property and strictly prohibit low-value high-value purchases. When carrying out direct leasing business, financial leasing companies can reasonably determine the value of leased property based on factors such as actual purchase price or manufacturer's guide price; when carrying out after-sales leaseback business, they should use reasonable valuation methods to determine the value of leased property based on the book value of assets held by the lessee.

Article 16 A financial leasing company shall, in accordance with the principle of prudence and objectivity, investigate the tenant's production and operation, credit qualifications, internal control, financial situation, etc., focusing on the reality, legality and rationality of the lessee's use and financing requirements of the leased property, and the coverage of rent by the lessee's operating cash flow. Where the lessee is a natural person, individual business or small and micro enterprise, the financial leasing company may appropriately simplify the investigation without lowering risk review standards.

In the event of an emergency or major change in the tenant's business conditions, the financial leasing company shall immediately conduct an investigation and promptly decide whether to change the original investigation findings.

Investigations by financial leasing companies against guarantors and other credit-enhancing entities shall be carried out in accordance with the provisions of this section.

Article 17 When a financial leasing company cooperates with a manufacturer (including dealers and professional service providers, the same below) to carry out financial leasing business, it shall investigate the manufacturer's business conditions, market reputation, product competitiveness, production and delivery capacity; where the manufacturer bears responsibility for the repurchase guarantee, it shall also investigate the manufacturer's financial situation, credit qualifications, and ability to dispose of leased goods.

If an unexpected incident occurs or a major change in the business conditions of the manufacturer occurs, the financial leasing company shall immediately conduct an investigation and promptly decide whether to change the original investigation findings.

Chapter III Risk Assessment and Approval

Article 18 Financial leasing companies shall establish a review framework centered on analysis of leased properties and tenants, set scientific and reasonable indicators and standards, comprehensively examine risk factors related to financial leasing business, fully consider factors such as policy changes and market fluctuations, objectively and impartially evaluate the viability of financial leasing business, and form risk assessment reports.

Financial leasing companies can develop risk evaluation methods adapted to the characteristics of different business models according to the actual needs of business operations and risk control, and dynamically evaluate and adjust related methods.

Article 19 A financial leasing company shall establish a lessee credit management mechanism that conforms to the characteristics of financial leasing business. When implementing conditional credit, the principle of “implementing the conditions first, then implementing the credit granting” shall be followed. Credit shall not be implemented if the credit conditions have not been implemented or the conditions have changed without a new decision.

Article 20 A financial leasing company shall carefully and reasonably determine the amount of financial leasing business on the basis of due diligence findings and risk assessment reports, and it is strictly prohibited to determine the value of the leased property after determining the business amount first.

When carrying out direct leasing business, financial leasing companies shall carefully and reasonably determine the business amount based on actual payment prices, necessary transportation and installation costs, taxes, insurance expenses, etc.; when carrying out after-sales leaseback business, they shall carefully and reasonably determine the business amount based on the value of the leased property, taking into account factors such as the lessee's ability to perform the contract, disposal and monetization of the leased property, etc., and the business amount shall not be higher than the value of the leased property.

Article 21 When a financial leasing company carries out direct leasing business, it shall distinguish whether it is a spot transaction and formulate different review points and risk control measures. For situations such as non-spot transactions or transfer orders, financial leasing companies should also focus on examining factors such as the construction progress of the leased property, the down payment ratio, delivery and acquisition of ownership of the leased property, the amount of financial leases and the frequency of rent payments, the ability of sellers and tenants to perform contracts and their credit enhancement measures.

Article 22 When a financial leasing company carries out sales and leaseback business, it shall strengthen the examination of the suitability of leased property, the authenticity, legality and rationality of the lessee's financing and usage requirements of the leased property, so as to prevent the lessee from misappropriating funds to prohibited or restricted areas.

Article 23 When carrying out operating leasing business, in addition to implementing the relevant requirements of Articles 21 and 22, financial leasing companies shall also focus on examining the value preservation capacity and service life of leased goods, fully considering factors such as market risk, residual value risk, defect risk, damage and loss risk, maintenance risk, technical back-up risk, and insurance arrangements. For leased properties which are greatly affected by the economic cycle and industry cycle, they shall also make reasonable and effective risk response arrangements.

Article 24 Financial leasing companies shall, in accordance with the principles of separation of examination and approval and hierarchical authorization and approval, standardize the business approval process, clarify the approval authority and scope of authorization, ensure that the approvers independently carry out the approval in accordance with the authorization, and shall not authorize approval authority to a remote team other than the place of residence.

For businesses that have the characteristics of batch or standardization, and can perform effective risk assessments through information technology such as risk assessment models, financial leasing companies can carry out approval through online automation, and should comprehensively consider various dimensions such as business model, industry, customer, etc., and carefully determine automated approval standards and quotas. At the same time, financial leasing companies should also regularly evaluate the effectiveness of the model, establish a manual review mechanism, set trigger conditions for manual review, and stop the automated approval process immediately if they find that automated approval cannot effectively identify risks.

Chapter IV: Conclusion and Enforcement of Contracts

Article 25 A financial leasing company shall sign financial leasing contracts and other related contracts with the lessee, seller and other relevant entities in written form, and shall sign guarantee contracts or related clauses at the same time where guarantee matters are involved.

Article 26 A financial leasing company shall specify in the financial lease contract the basic information of the leased property, the lease period, the business amount, the use of funds, the rent plan (rent rate or comprehensive financing cost), payment methods, delivery and disposal of the leased property, and the risk of damage and loss of the leased property.

When financial leasing companies carry out operating leasing business, they should also specify the details of leased property repair and maintenance, insurance liability, rent-return conditions, and breach of contract relief in the contract.

Article 27 When a financial leasing company cooperates with a manufacturer to carry out financial leasing business, it shall sign a written cooperation agreement with the manufacturer to clarify the scope of cooperation matters, consumer rights protection, dispute resolution methods, information and data security, liability for breach of contract, and cooperation of partners to implement supervisory requirements. Where the manufacturer bears the responsibility for the repurchase guarantee, the method and ratio of risk-return sharing should also be clarified in the agreement.

Article 28 When determining the lease period, a financial leasing company shall fully consider factors such as the type of leased property, the project cash flow recovery cycle, the tenant's operating characteristics, the tenant's income and expenses, and guarantee conditions. The maximum length of the lease period shall not exceed the remaining period of use of the leased property.

Article 29 A financial leasing company shall carefully agree on rent payment methods with the lessee based on factors such as the type of leased property, construction progress and specific use of the leased property, the characteristics of the lessee's business and the cash flow recovery cycle of the project. The frequency of rent payments should match the cash flow of the tenant or the operating income of the leased property. In principle, it should not be less than twice a year.

When financial leasing companies carry out operating leasing business, they should also comprehensively consider factors such as current market rent levels and expected earnings, and set rent and payment methods reasonably.

Article 30 Where a financial leasing company collects a lease deposit or consulting service fee, it shall specify the amount of the fee, payment method, etc. in the contract.

When collecting a lease deposit, a financial leasing company shall reasonably determine the security deposit ratio and collect it before making a business loan, and shall not directly or disguise the security deposit from the total financing amount.

When charging fees for consulting services, financial leasing companies shall abide by the relevant regulations of national price authorities and financial supervisory authorities on financial service charges. If they fail to provide substantive services, they shall not charge tenants, and shall not charge rent fees.

Article 31 A financial leasing company shall require the lessee in the relevant contract to make commitments on important matters such as changes in ownership of leased property, storage, use of funds, and cooperation with investigations.

Article 32 A financial leasing company shall lawfully acquire ownership of the leased property.

Where leased property is a property category that cannot be fought against a bona fide third party without registration, the financial leasing company shall control the risk through registration and other means in accordance with law.

In addition to the circumstances stipulated in the preceding paragraph, financial leasing companies shall register financial leases with the unified registration agency for movable property and rights guarantees designated by the State Council and take effective measures to protect their legitimate rights and interests in leased property.

Article 33 A financial leasing company shall, in accordance with the actual situation of the business, obtain ownership of the leased property by means of actual delivery, simple delivery, instruction delivery, or modification of possession according to law and regulations, and retain relevant supporting documents.

Article 34 A financial leasing company shall establish an independent responsible department or position to be responsible for issuing funds and reviewing payments. Before disbursing funds, the financial leasing company shall confirm that the lessee meets the withdrawal conditions agreed in the contract, and manage and control the payment of the funds in accordance with the methods agreed in the contract.

Article 35 Financial leasing companies shall strengthen the payment management of financial leasing funds. For direct leasing operations, in principle, financial leasing funds shall be paid directly to the seller's account; for after-sales leasing business, they shall monitor the use of funds. If the lessee makes a single payment of more than 10 million yuan to a transaction partner, the financial leasing company shall entrust the lessee's relevant depositary bank to supervise the account funds, or the financial leasing company shall entrust the relevant depositary bank to make the payment in trust.

Chapter V Post-lease Management

Article 36 A financial leasing company shall inspect and analyze the safety, physical state, ownership status, value changes, etc. of leased property assets, performance and business conditions, macroeconomic changes and market fluctuations, and guarantee changes through a combination of off-site monitoring and on-site inspection, and establish a post-lease management system and risk warning system for financial leasing business.

Where post-lease inspections can be effectively carried out through information technology, financial leasing companies can appropriately simplify or adopt off-site monitoring methods to carry out post-lease management, and carry out on-site inspections according to an appropriate ratio.

Article 37 For businesses where leased property is under construction, financial leasing companies shall keep abreast of the construction progress of the leased property, project quality, etc., and take effective control measures to prevent risks during the construction period.

Article 38 Financial leasing companies shall pay close attention to the operating status, operating efficiency and market environment of leased property, monitor leased property by installing positioning devices, intelligent monitoring systems, etc., and keep abreast of the location and operation status of the leased property in a timely manner.

Financial leasing companies should continuously monitor fluctuations in the value of leased property, comprehensively assess the level of coverage of leased property values with financial lease claims, formulate and adopt effective risk management measures, and entrust professional institutions with relevant qualifications to issue opinions if necessary.

Article 39 Financial leasing companies shall strengthen the management of project rent sources, dynamically pay attention to rent sources such as cash flow from leased property operations, cash flow from related project operating income, and overall cash flow of tenants. In case of abnormal situations, they shall promptly investigate the causes and take corresponding risk management measures.

Article 40 When the lease term expires, the financial leasing company shall complete the corresponding procedure for transferring ownership of the leased property in accordance with the contract agreement. For operating leasing businesses, if the tenant does not renew the lease at the end of the lease period, the financial leasing company shall confirm whether the leased property meets the conditions for rent refund and go through the relevant procedures for asset handover with the lessee.

Article 41 Financial leasing companies shall establish systems and procedures for the retrieval, storage, and disposal of leased property, comprehensively consider factors such as market conditions, holding costs, and value changes, and comprehensively adopt measures such as maintenance, re-leasing, and disposal to enhance the value of leased property assets and disposal proceeds, and prevent risks associated with assets to be leased.

For leased assets to be disposed of, financial leasing companies shall ensure that departments and positions responsible for asset evaluation, pricing, and disposal are independent of each other in accordance with the principles of separation of evaluation and punishment and collective review, make scientific and prudent pricing on the basis of reasonable assessment of asset value, formulate disposal plans based on factors such as asset valuation and pricing results, and carry out corresponding approval and decision-making procedures.

Financial leasing of assets to be leased shall be carried out by financial leasing companies in accordance with the new procedures and relevant regulations for handling financial leasing business.

Article 42 Where a tenant applies for restructuring due to financial difficulties, etc., the financial leasing company shall carefully evaluate the reasons for the restructuring and the feasibility of subsequent rent payment arrangements. Where a restructuring is to be carried out, the terms of the restructuring shall be reasonably determined based on factors such as the lessee's repayment source and leased property status, the follow-up management of the financial leasing business should be strengthened, and risks classified according to the actual risk situation.

In financial leasing business involving an extension, in principle, the period remaining after the extension shall not exceed the remaining period of use of the leased property.

Article 43 Where the lessee violates the contract agreement, the financial leasing company shall promptly take effective measures such as stopping or suspending the disbursement of financial lease funds, collecting penalty interest, adjusting the rent payment method, recovering rent early, terminating the contract, and taking back the leased property, and investigate the lessee's corresponding liability for breach of contract in accordance with law.

Chapter 6 Risk Management and Internal Control

Article 44 Financial leasing companies shall strengthen the management of asset quality in financial leasing business, establish an asset quality classification system for leasing receivables based on anticipated credit losses in accordance with the relevant financial asset risk classification systems of commercial banks, and carry out asset risk classification in a timely and accurate manner.

The claim portion of an operating leasing business shall be executed in accordance with the provisions of this section.

Article 45 Financial leasing companies shall establish and improve financial leasing business concentration risk management systems covering the dimensions of customers, industries, regions, leased property, cooperative institutions, etc., and distribute operating risks.

When a financial leasing company cooperates with a manufacturer to carry out financial leasing business, it should also refer to the relevant regulations on group customer concentration management, set centralized management indicators for manufacturers that assume repurchase guarantee responsibilities, and fully consider the balance, risk status, and ability of the vendor to perform financial leasing business in cooperation with other institutions.

Article 46 Financial leasing companies shall establish a scientific and effective operational risk management system according to business processes, personnel positions, information system construction and outsourcing management, etc., and formulate an operational risk management system to ensure effective identification, measurement, monitoring and control of operational risks.

Article 47 Where a financial leasing company engages in financial leasing business with a related party, it shall comply with the relevant regulatory regulations on related transactions, ensure the transparency and fairness of the transaction, and explain it in a risk assessment report. It is strictly prohibited to circumvent the provisions of the related transaction supervision system by concealing related relationships, splitting transactions, and lengthening the business chain through nested transactions.

Article 48 A financial leasing company shall, in accordance with its own strategic plan and level of operation and management, clarify the management policy for operating leasing business limits, formulate an entry system for leased goods involved in the operating leasing business, and clarify relevant measures such as maintenance, maintenance, insurance arrangements, etc. in conjunction with the asset type and operation status of the leased property to ensure the safety of leased assets.

Financial leasing companies should strengthen the valuation management of assets involved in the operating leasing business, reasonably determine the frequency of value revaluation based on the market value and operating risk of different types of leased property. In principle, value revaluation should be carried out at least once a year, and the frequency of revaluation should be increased for large value fluctuations.

In accordance with the provisions of the national accounting system, financial leasing companies shall conduct impairment tests on assets involved in operating leasing operations, fully consider the revaluation value of leased assets and the extent to which the estimated recoverable amount covers the net book value of assets, fully calculate impairment preparations, and effectively control the risk of residual value of leased property.

Article 49 Before starting overseas financial leasing business, eligible financial leasing companies shall fully consider factors such as the external environment, customer needs, own operating characteristics, management capabilities, and shareholders' overseas development strategies, formulate overseas business development strategies, regularly evaluate implementation results, and make timely adjustments and optimizations. At the same time, establish an internal entry system and authorization management system for overseas business, reasonably determine the scope of authorization and risk limits, and strengthen project feasibility analysis and review.

Financial leasing companies should take into account the characteristics of overseas business, carry out targeted risk identification, analysis and judgment, strengthen national risk monitoring and quota management, establish national risk stress testing methods and procedures, regularly test and report test results to senior management, formulate emergency plans for national risk management, and clarify risk mitigation measures to be taken in specific risk situations.

Financial leasing companies should select and match a strong team of overseas business professionals, implement requirements for exchange and rotation of cadres and evasion from carrying out their duties, establish and improve management systems for departing employees, and effectively prevent overseas integrity risks.

Article 50 Financial leasing companies shall establish an internal control organizational structure with reasonable division of labor, clear responsibilities, and mutual checks and balances, and clarify internal control points and process control requirements for corresponding departments and positions, taking into account the characteristics of different business models.

Article 51 A financial leasing company shall establish and improve an internal audit system for financial leasing business. The internal audit department shall conduct an audit of key risk areas in the financial leasing business based on the company's situation. In principle, the frequency of the audit shall not be less than once a year, put forward rectification opinions on the problems found in the audit, and follow up and check the completion of the rectification measures to promote the company's legal operation and steady development.

Article 52 Financial leasing companies shall establish and improve relevant incentive assessment and accountability mechanisms, determine the responsibilities of responsible departments and positions in all aspects of financial leasing business operations, insist on due diligence exemption and accountability for negligence, determine responsibility for illegal acts and the risks and losses caused by them or other serious adverse consequences, and hold those responsible to account in accordance with regulations.

Article 53 Financial leasing companies shall appoint a lead department for employee conduct management, formulate relevant systems to regulate employee conduct and ethics, raise employees' awareness of compliance and compliance concepts, cultivate employees' good professional conduct, and strengthen employee behavior investigation, job checks and balances, and off-the-job monitoring.

Financial leasing companies should track and monitor employees' behavior throughout the financial leasing business process through various methods such as presentations, notifications, and investigations, and strictly prevent illegal and criminal acts such as employees collecting bribes through cooperative agencies and colluding with outsiders to defraud funds.

Article 54 When carrying out financial leasing business, financial leasing companies shall strengthen the entry management of cooperating institutions such as manufacturers, marketing, collection, asset evaluation, information technology, legal services, external audit, etc., carefully formulate entry standards, and shall not outsource core risk control aspects such as due diligence, risk assessment, credit approval, contract signing, and post-lease management to cooperating agencies.

Cooperating institutions that have already been admitted should be reviewed regularly to ensure that they continue to meet the conditions for admission. If it is discovered that the cooperating agency has committed serious irregularities, major risks, failed to comply with consumer rights protection, information disclosure obligations, or other circumstances that do not meet the standards of cooperation, the financial leasing company shall terminate the cooperation and continue to provide good customer service for the existing business.

Article 55 When carrying out financial leasing business, financial leasing companies shall protect consumers' legal rights such as the right to know, the right to independent choice, and the right to fair trade, regulate the disclosure of information on products and services, strengthen financial publicity and education, and enhance consumers' financial literacy and risk awareness.

Regarding consumer rights protection matters relating to partner institutions, financial leasing companies shall clarify the obligations and responsibilities of each party relating to consumer rights protection in the cooperation agreement, including but not limited to information security control, service continuity, information disclosure, dispute resolution mechanisms, liability for breach of contract, and emergency response.

Article 56 In the process of carrying out financial leasing business, financial leasing companies shall abide by relevant national laws and regulations on anti-money laundering, anti-terrorist financing, and prevention of illegal fund-raising.

Article 57 Financial leasing companies shall establish and improve information technology management systems covering the entire process of financial leasing business, strengthen the construction of system control functions for business and management activities, record management information in a timely and accurate manner, and do a good job in network security and data security management.

Article 58 A financial leasing company shall establish a financial leasing business file management system to record the business process objectively, accurately and completely.

Chapter 7. Supervision and Management

Article 59 Financial leasing companies shall, in accordance with regulations, regularly submit statistical reports and related reports relating to financial leasing business to agencies dispatched within the territory of the State Financial Supervision and Administration, and ensure that the submitted information is true, accurate and complete.

Article 60 The State Administration of Financial Supervision and Administration and its dispatching agencies shall have the right to carry out on-site inspection and off-site supervision of financial leasing operations carried out by financial leasing companies in accordance with relevant procedures and regulations, and to investigate units and individuals involved in suspected illegal matters in accordance with the relevant procedures and regulations.

Article 61 Financial leasing companies carrying out financial leasing business shall comply with the requirements of the “Administrative Measures on Financial Leasing Companies” with respect to regulatory indicators such as provisions and risk concentration.

Article 62 If a financial leasing company violates the provisions of these Measures, the State Financial Supervision and Administration and its dispatching agencies may take supervisory measures or implement administrative penalties in accordance with law.

Chapter 8 Supplementary Provisions

Article 63 Financial leasing companies shall formulate and improve internal management systems in accordance with the provisions of these Measures.

Article 64 These Measures shall apply to financial leasing business carried out by professional subsidiaries or project companies of financial leasing companies.

Article 65 These Measures shall apply to cross-border and overseas financial leasing business carried out by financial leasing companies and professional subsidiaries and project companies established by them.

Where the provisions of these Measures cannot be applied to a cross-border or overseas financial leasing business according to overseas laws and regulations, international practices, and territorial supervision requirements, the financial leasing company shall carry out a risk assessment of the relevant business, formulate a management system that conforms to the risk characteristics of the relevant business, and submit it to the territorial dispatch agency of the State Financial Supervision and Administration before carrying out business.

Article 66 Automobile and automobile accessories financial leasing business carried out by automobile finance companies in accordance with the “Administrative Measures on Auto Finance Companies” shall be carried out with reference to these Measures.

Article 67 The State Financial Supervision and Administration shall be responsible for interpreting these Measures.

Article 68: These Measures take effect on January 1, 2026.

This article was selected from the official website of the “China Financial Supervisory Administration”. Zhitong Finance Editor: Feng Qiuyi.