政策套利与规则优化:外商融资租赁井喷增长

Policy Arbitrage and Rule Optimization:Growth Spurt of the Foreign-funded Financing Lease

当前境内外利差、汇差的存在使得企业境内外融资成本存在较大差异,促使境内企业更多倾向于境外融资,外资融资租赁公司成为境内企业境外筹集资金的重要桥梁。近年来,外商投资融资租赁快速发展,银行、融资租赁公司合作在缓解境内企业融资难的同时,也对跨境收支带来一定冲击,政策管理上的宽松还可能诱发其监管套利,因此,在鼓励其发展的同时还需要进一步加强引导和规范。

Currently,the difference between domestic and foreign interest rate and exchange rate leads to the rather large difference of financing cost at home and abroad for enterprises. This has made the domestic enterprises more inclined to financing overseas,and foreign-funded financing Lease companies have become an important bridge for domestic enterprises to raise funds overseas. In recent years, the foreign- funded financing lease companies have witnessed rapid development. The cooperation between banks and financing Lease companies alleviates the financing difficulties of domestic enterprises,meanwhile,it also brings a certain impact on cross-border payments. The loosening of policy management may also induce the regulatory arbitrage. Therefore,it should encourage the development and further enhance the guidance and regulation at the same time.