Core Viewpoint - The National Financial Regulatory Administration has issued the "Management Measures for Financing Leasing Business of Financial Leasing Companies," effective from January 1, 2026, aimed at regulating the operations of financial leasing companies and enhancing financial service levels [1][2]. Group 1: Regulatory Framework - The new measures focus on various aspects such as due diligence, risk assessment and approval, contract establishment and execution, post-lease management, and internal control to mitigate business risks [1]. - The measures emphasize compliance with the type of leased assets as a prerequisite for financing leasing business [1]. Group 2: Business Operations - Financing leasing is the primary business of financial leasing companies, categorized into direct leasing and sale-leaseback transactions [1]. - The measures aim to guide financial leasing companies to align closely with enterprise equipment asset needs, thereby fostering a financial service model with distinct industrial characteristics [1]. Group 3: Market Trends - Regulatory authorities have been encouraging financial leasing companies to increase the proportion of direct leasing business [2]. - As of the end of 2024, the balance of direct leasing assets for financial leasing companies is projected to reach 640.54 billion, reflecting a year-on-year growth of 52.73% [2]. - In 2024, direct leasing investments are expected to total 352.30 billion, accounting for 19.56% of the total investment [2].