BEIJING, Jan. 23 (Xinhua) -- Assets of China's financial leasing industry totaled 2.45 trillion yuan by the end of 2017, 30.8 times the amount at the end of 2008, showing an average annual compound growth rate of 46.35 percent, according to an industry development report recently released by China Banking Association (CBA).
The report shows that China's financial leasing industry had achieved a total net profit of about 28.29 billion yuan in 2017, 26.46 times that in 2008, with an average annual compound growth rate of 43.9 percent.
In terms of profit structure, thanks to the business development in the aviation and shipping sectors, the proportion of the net interest income in the financial leasing industry decreased year by year, from 84.3 percent at the end of 2008 to 42.36 percent at the end of 2017.
The report shows that after ten years of development, the domestic financial leasing companies have grown bigger, with business running well and risk under control. By the end of 2017, 66 financial leasing companies had been opened nationwide, with the number of companies being 5.5 times that at the end of 2008.
Meanwhile, the financial leasing industry has maintained a good asset quality, with the non-performing asset ratio always staying at a low level below 1 percent. As of the end of 2017, the average non-performing asset ratio in the industry was 0.72 percent.
(Edited by Bao Nuomin, baonuomin@xinhua.org)
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