Premier calls for stronger leasing to bolster economy

BEIJING, Aug. 26 (Xinhua) — The State Council, China’s Cabinet, on Wednesday asked the country’s leasing industry to facilitate financing and bolster real economy.

Stronger leasing services can provide capital to support investment on equipment and industrial upgrades, said a statement released after a State Council executive meeting presided over by Premier Li Keqiang.

The meeting demanded less red tape, including no threshold for the minimum capital of financial leasing companies to establish subsidiaries and easier procedures for leasing equipment like ships, farming machinery, medical devices and aircraft.

More support will target high-end equipment imports and clean energy, especially services for small enterprises and agricultural development, the statement said.

Better use of “Internet Plus” will help trading of leases, second-hand equipment and leaseback business.

Internet Plus encourages the development of e-commerce, industrial networks, and Internet finance.

The meeting encouraged local governments to provide incentives and risk compensation to guide financial leasing businesses to better serve the real economy. Enditem


China considers amending laws to boost private schools

BEIJING, Aug. 26 (Xinhua) — Legislators on Wednesday deliberated amendments to laws on education to promote the development of private schools.

The amendments were submitted to the country’s top legislature during its bi-monthly session that started on Monday.

According to the amendments, private schools can choose their own method of operation and register as non-profit or profit-making enterprises.

Non-profit private schools will charge fees according to regulations made by local governments, while for-profit private schools can decide the fee criteria on their own.

Private schools operating in violation of the regulations and rules should be shut down. Violators should return fees and may be fined one to five times of their illegal gains, said the amendments. Enditem


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