The automotive industry is an important component of the Chinese economy. The country comprises the largest global auto market, and an increase in car ownership has spurred demand in the auto finance sector.
In 2018, per capita disposable income in China reached 28,285 yuan, up 8.9% from the previous year; the Chinese middle class is expected to number 600 million in 2020, and will form an enormous consumer market. Market penetration for auto finance is low, indicating tremendous growth potential over the next decade. Furthermore, the rise of digital service models, the diversification of financial products, as well as improvements to the personal credit system, are all expected to contribute to the ascendance of auto leasing and finance in China.
The 12th China Leasing Summit 2019 will gather leaders in the leasing industry, to discuss the extraordinary growth in the auto leasing sector in China, providing a platform for high-level exchange on innovative business models, cutting-edge technology, the regulatory environment, market trends, financing channels, fleet management, risk management, new energy vehicles and much more.