| This dissertation is composed of 4 chapters. In the preface we discuss the importance of applying finance leasing in China go-west strategy, main topics of this study, and arrangement of this dissertation. In chapter 1, we use the famous comparative advantage theory as principle to analyze the advantages and disadvantages of the production factors in Great Western Region as well as scale, performance and resource possessed by middle and small-scale enterprises in western regions. We draw the conclusion that Great Western Region on the whole has definite shortage on capital and labor. Middle and small-scale enterprises which should be a new growing point in the development of the west region can not move fast, especially due to the limit source of financial support. In this chapter we focus on the detailed analysis on the feature of these enterprises, financing problems they come across as well as impact they have on the development of the whole region. We can see in the study that the growth of the middle and small-scale enterprises in west region are lagged out due to the lack of any stable capital channel to satisfy its demand on financing. Therefore, solutions should be found, policy should be set up to solve these problems.In chapter 2, we demonstrate in theory that finance leasing which provides comprehensive service can be an effective and multi-winning solution to the capital problems of middle and small-scale enterprises in west regions. In addition, with its successful application to the middle and small-scale enterprises, finance leasing can then be used to the whole region.First, financial leasing, as a unique way of financing, can provide financial solution to the middle and small-scale enterprises in various ways. Some of the solutions have special functions, such as Leasing over the statement of assets and liabilities can help the newly-established enterprises keep a low capital debt and a good credit reputation; Tax Oriented Leasing can benefit the lease holder for the delay of tax payment; Operating Lease is especially helpful to the high-tech enterprises since they often need to change equipment; Rent-back Leasing can help state-owned middle and small-scale enterprises to improve their operational capital; export leasing can help enterprises to bring their equipment and technology to neighbor countries. Besides, another important feature of financial leasing is that it can combine various investment resources to set up a trading platform. During the development of west regions, it can work in several ways: return on government investment can be expanded by involving in the financial leasing to middle and small-scale enterprises ; social investor/fund can enjoy discount on tax without increasing their investment to the existing industry; investment risk borne by banks in the financial leasing to projects is reduced; and last by not least, with various aspects involving, a healthy credit environment is established for middle andsmall-scale enterprises in west regions.Finally, we discuss about the risk control of middle and small-scale enterprises in the application of financial leasing. In Chapter 2 we present a 5C credit analysis to show this assertion: a rent payment with similarity of a guaranteed loan. Due to the key importance and general application of the equipment, the lessee has to put rent payment at priority. Hence the lessee's payment willingness is increased. And therefore, lease holder has more power in control on credit risk compared with bank. In Chapter 3 a case in the practice of finance leasing in western region is presented and studied. With the case study, it is proven that financial leasing is highly feasible in the development of west region. The case is about how to utilize finance leasing in technology improvement of traditional industry. It gives practical evidence to fully support the theory stated in chapter 2, which includes enterprise financing, local government's involvement, risk share providing condition for bank's Loan without the right of... |
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