The Research On Legal System Of Financial Lease

As a new form of transaction originated in USA in 1954, financial lease transaction has gained a mushroom growth. Because of its multiple functions, that is, the function to help manage the asset, promote sales, provide investment finance, and manage money matters. It makes great contribution to corporations and even natural persons who desires capital. In foreign countries, it plays an important role, which next only to the bank loan and securities market.Twenty years have passed since financial lease was transferred into China as a tool of utilizing foreign capital. But our financial lease industry is less developed. This paper aims to find out the cause and provide some preliminary suggestions to our legislative department. This paper includes 5 chapters, which are:Chapterâ… analyses the conception of financial lease, and discussed the relation of this new form of contract and traditional civil law theory. Conclusively, the financial lease legal nexus is too complex for the civil law to regulate, then economic law can just play this role.Chapter II and Chapter III analyses the history of the legislation and the development of financial lease industry in China to find that, China's financial lease industry is not so good as other countries'due to the wrong recognition of its legal character and the immature and unsound legislation regarding to the legal system, the financial accounting system, the tax system and the regulatory law. I define them the interior cause, and the exterior cause which is determined by the former one and affects the financial lease industry directly. This paper goes on these two routes to analyze the essential function of financial lease, and the problems existing in nowadays four fields.Chapter IV and Chapter V analyses Chinese legislation regarding to the legal system, the financial accounting system, the tax system and regulatory law, and provide some constructive resolutions with the aim to make preliminary proposals of its legal regulation: Firstly, legislative style choice of financial lease legislation should be a subgenres. Secondly, consummate the subject and object system to widen the market, improve the rights of financial lessees and tax revenue to attract possible lessees, consolidate the regulatory department to provide equal and concurrent regulation.