打破外资垄断的国内金融租赁公司，正在加速创新业务模式，开展飞机船舶融资租赁、经营租赁的业务。

To break the monopoly of foreign domestic financial leasing company,Is accelerated innovation business mode,To carry out the plane ship financing lease/Operating lease business.

　　政策破题需要追溯到2010年。当年1月，银监会颁发《关于金融租赁公司在境内保税地区设立项目公司开展融资租赁业务有关问题的通知》（银监发2010-2号），允许国内金融公司在境内保税区通过设立SPV(特殊项目公司)的形式开展相关业务。此后，国内各家金融租赁公司利用SPV的平台资源和优势，锐意进取，开拓创新，推动行业的航空、航运租赁业务迎来了蓬勃发展。

Policy "need to back in 2010.In January,The CBRC issued[About financial leasing company in domestic bonded area set up companies to carry out project financing lease business of the relevant questions of the notice](Silver JianFa 2010-2),Allow domestic financial company in China through the established bonded area SPV(Special project company)In the form of related business.Since then,The domestic each financial leasing companies use SPV platform resources and advantage,Forge ahead,innovation,Promote the industry to air/Shipping leasing business ushered in the vigorous development.

　　为了进一步支持航空航运产业，国内金融租赁公司也逐步将触角延伸至海外。多家公司表示，下一步将积极尝试探索在境外设立SPV开展租赁业务，并试水在境外发行美元债券。

In order to further support air shipping industry,Domestic financial leasing company also gradually will tentacles extending to overseas.Many companies said,The next step will actively try to explore the establishment of SPV in overseas in leasing business,And test the waters in $bond issue overseas.

　　航空租赁打破外资垄断 Aviation leasing to break the monopoly of foreign capital

　　设立独立封闭的SPV作为名义出租人，以SPV所拥有的单架飞机、单艘船舶等作为租赁标的物，出租给承租人营运，是目前国际航空、航运租赁业务的普遍做法。在很长一段时间里，这一领域由外资金融租赁公司所垄断。

Setting up independent closed SPV as nominal the lessor,To SPV have single plane/Single ship as lease the subject matter,Operating lease to the lessee,Is the international air/Shipping leasing business common practice.In a very long period of time,This field by foreign capital financial leasing companies monopoly.

　　这一格局近年来才破冰。据交银租赁方面的人士介绍，在2007年金融租赁管理办法颁布、银行系金融租赁公司成立之前，国内的飞机和船舶（尤其是民用航空的飞机）租赁业务大部分由国外的金融租赁公司占据，国内金融机构想介入很难，介入的也很少。即使金融租赁公司成立之初，由于税收、法律、监管等方面的政策障碍，金融租赁公司也难以开展机船租赁业务。随着银监发2010-2号文件的颁发，越来越多的金融租赁公司开展这一业务。

This pattern in recent years to break the ice.According to pay silver lease of personage introduction,In 2007 financial leasing management measures enacted/Department of banking financial leasing company before was established,The domestic aircraft and ships(Especially the civil aviation aircraft)Most rental business from foreign financial leasing company occupy,Domestic financial institutions to intervention is difficult to,Intervention rarely.Even if financial leasing the inception of the company,Because tax/law/Regulatory policy barriers,Financial leasing company also difficult to carry out vessel leasing business.Along with the silver JianFa 2010-2 documents issued,More and more financial leasing companies to carry out the business.

　　业内人士表示，与一般的租赁业务相比，金融租赁公司对SPV承担的是有限责任，单一资产发生风险时不会影响到租赁公司及其他项目公司的资产，同时也能保障融资银行、承租人等各利益相关方的权益。对承租人而言，如果向境外的机构租赁飞机，则需要缴纳预提税。而通过境内保税区设立的SPV，则不需要缴纳预提税，可降低交易成本。

The personage inside course of study says,Compared with the general rental business,Financial leasing companies to undertake SPV is limited liability,A single assets at risk will not affect the leasing company and other project company's assets,At the same time also can guarantee financing bank/The lessee and so on various stakeholder interests.As to the lessee,If overseas institutions to lease the plane,The need to pay withholding tax.And through the territory of SPV FTZ,Do not need pay withholding tax,Can reduce the transaction cost.

　　政策的松绑促进了金融租赁公司相关业务的发展。以交银租赁为例，其已成功操作了上海保税区SPV第一单飞机融资租赁、新飞机经营租赁、公务机租赁和飞机发动机租赁业务，以及上海地区第一单境外SPV飞机美元融资租赁项目。截至9月末，该公司租赁飞机总数已达到20架，拥有上海地区最大的民航机队规模。

Policy easing the financial leasing companies to promote the development of related businesses.To pay silver lease as an example,It has been successfully operating the Shanghai bonded area SPV first single aircraft finance lease/The new aircraft operating leases/Corporate aircraft leasing and aircraft engine leasing business,And the Shanghai area the first single overseas SPV $aircraft finance lease project.By late September,The company total lease plane has reached 20 frame,With Shanghai region's largest aviation fleet size.

　　随着国内金融租赁公司越来越多地涉足飞机租赁业务，过去的三四年时间，国内金融租赁行业逐步在航空租赁市场上打出一片天地，打破了过去国外租赁公司对国内航空租赁市场的全面垄断局面。

Along with the domestic financial leasing companies increasingly involved in aircraft leasing business,The past three or four years,Domestic financial leasing industry gradually in the aviation leasing market hit a piece of heaven and earth,Broke the past foreign leasing company for the domestic aviation leasing market comprehensive monopoly situation.

　　创新船舶租赁交易模式 Innovation ship leasing transaction mode

　　除了航空领域，金融租赁公司也在航运业务上发力，有效支持国内航运市场建设和航运企业的运营。

In addition to aviation field,Financial leasing company also in the shipping business hair force,Effective support domestic shipping market construction and shipping enterprise's operation.

　　其中最具有代表性的业务创新，当属上海洋山保税港区通过保税区SPV租赁业务开展船舶登记的尝试。之前，由于内地对国际、国内航运船舶实行统一的封闭船舶登记制度，导致税收、船舶检验等方面的营运成本明显高于境外登记的国际航运船舶，国内大部分中资船舶都选择在国际上采取开放制度、登记手续高效、便利的国家或地区进行登记并悬挂别国旗帜。

One of the most representative business innovation,When the oceans and mountains bonded harbor area through the bonded area SPV leasing business to carry out ship registration attempt.before,Due to the mainland to the international/Domestic shipping unified closed ship registration system,Lead to tax/Ship inspection of operating cost is obviously higher than that of the overseas registered international shipping,Most of the domestic Chinese ship in the world all choose to open system/Registration formalities efficient/Convenient countries or regions register and suspension other countries flags.

　　2011年12月，为完善国内船舶登记制度建设，吸引中资外籍船舶回归国内登记，支持上海国际航运中心建设，交通运输部海事局正式下发《关于同意上海海事局在洋山保税港区开展船舶登记工作的批复》，为在洋山实施报税登记提供了前提和契机。2012年7月，国内首单洋山保税港区“保税船舶登记”融资租赁项目——交银瀚辉“冠海朝阳”轮项目成功落地。

In December of 2011,To improve the domestic ship registration system construction,To attract Chinese foreign ship regression domestic registration,Support the construction of Shanghai international shipping center,The traffic department of transportation maritime bureau issued a formal[About agreed to Shanghai maritime bureau in yangshan bonded harbor area to carry out the work of registration of the ship's reply],For in the yangshan implementation of tax registration provides premise and opportunity.In July 2012,Domestic first ChanYang mountain bonded harbor area"Bonded ship registration"Financial leasing project - silver into the John glance"Crown sea chaoyang"Wheel project successful landing.

　　在该项目交易中，交银租赁在洋山保税区设立的SPV——交银瀚辉（上海）船舶租赁有限公司从境外买入香港籍船舶“朝阳”轮后，注销原船舶国籍，在洋山保税港区重新办理船舶登记，命名“冠海朝阳”轮并悬挂五星旗，以融资租赁方式出租给客户在洋山注册的SPV（承租人），承租人再将船舶转租到境外进行国际航运。

In the program trading,Pay silver lease in yangshan bonded area established SPV into silver - John glance(Shanghai)The ships leasing co., LTD. Hong Kong ships to buy from abroad"chaoyang"Wheel after,The cancellation of the original ship nationality,In the yangshan bonded port area is dealt with afresh ship registration,named"Crown sea chaoyang"Wheel and suspension five flag,By way of financing lease lease to customers in the yangshan registered SPV(The lessee),The lessee will ship sublet again to overseas for international shipping.

　　“冠海朝阳”轮融资租赁项目的正式落地，是上海洋山港“保税船舶登记”制度实施的一次具有引领性的探索和创新，实现了国内航运业在船舶登记制度方面的历史性重大突破，并将实质性地推动中资航运企业的外籍船舶回归洋山进行船舶登记，进一步吸引航运资源集聚上海，有效增强我国在国际航运政策制定中的话语权和市场定价权，推动上海“两个中心”、尤其是国际航运中心的建设。

"Crown sea chaoyang"Rounds of financing leasing project formally landing,Is the yangshan port"Bonded ship registration"A system implementing has lead the sex of exploration and innovation,Realize the domestic shipping business in ship registration system of historic breakthrough,And will be substantial to promote Chinese shipping enterprise foreign ship regression yangshan on ship registration,Further attract shipping resources gather Shanghai,Effective enhance China's international shipping policy making in the discourse right and market pricing,Push Shanghai"Two center"/Especially the international shipping center construction.