Off-site Regulatory Rules for Financial Leasing Companies (selected - 6)

Article 18:     In case of a major risk, emergency, major pending litigation or arbitration or any other major event of a financial leasing company within its jurisdiction, the local financial regulatory authority shall analyze the reasons therefor, supervise and guide the financial leasing company in responding to the event in a timely manner, and shall report the event to the people's government at the same level and the local financial regulatory authority at a higher level in accordance with the requirements of the major risk event reporting system.

Article 19:     Each local financial regulatory authority shall prepare annual regulation reports on routine regulation, off-site regulation and on-site inspection, analyzing the data changes, development trend, characteristics and operation of off-site supervision and the information on on-site inspection, etc. An annual regulation report shall cover the following:

(1)   The basic conditions and major changes of the financial leasing industry within its jurisdiction;

(2)   The main work carried out in the regulation of the industry and the regulatory rules formulated in the current year;

(3)   The main work carried out in promoting the development of the industry in the current year;

(4)   The good practices and main achievements in the industry;

(5)   The problems and risks existing;

(6)   Violations and non-compliances of financial leasing companies;

(7)   Further work arrangements and suggestions; and

(8)   Other necessary information.