The Shanghai Lingang New Area financial leasing Special Purpose Vehicle (SPV) pilot program expands again, with Bank of Communications Financial Leasing consecutively landing two initial projects.

On July 18, Lingang New Area officially released the new policy of "Pilot expansion of business scope of financial leasing project companies". This pilot will expand the scope of leased assets of the original Jinzu project company to four types of equipment including new energy, power batteries, intelligent manufacturing, and industrial mother machines. The business entities will be expanded to SPVs established by Jinzu nationwide in Lingang. It is reported that after the release of this new policy, Bank of Communications Jinzu quickly responded by landing two initial projects in Lingang New Area. Bank of Communications Jinzu is one of the first batch of five bank-owned financial leasing companies approved by the State Council, and it is a wholly-owned subsidiary of Bank of Communications.