In 1984, Zhejiang Provincial Leasing Co., Ltd., a limited liability corporation invested by Zhejiang Finance Development Corporation, Zhejiang Products Group, Zhejiang International Trust Investment Corporation and China Leasing Co.,Ltd., was established. As the only non-banking financial institution authorized by People’s Bank of China, Zhejiang Provincial Leasing Co., Ltd. is specialized in financial leasing business, such as the financial lease of RMB and foreign exchange, loans of working capital, leasing of trust funds and agent services of warranty and consulting, etc. Up to the end of 1999, the corporation has become one of the top national financial leasing industries with its nuclear capital of RMB230 million and total asset of more than 2 billion. Its total granted funds of leasing equipment has reached over 6 billion.
Based on the equipment investment and support of supervisors in every level and departments concerned, the corporation has been keeping on technological transformation in medium and small-sized enterprises since fifteen years ago. Moreover, it has actively developed the cooperation with the local finance and taxation departments, and formed its own proper management style, which was regarded as "Mode of Zhejiang Leasing". The fifteen-year development of the corporation has always been thought much of by Zhejiang Provincial Government and draws extensive reputation and support both from local government and enterprises.
According to the statistics, more than 100 enterprises, supported by Zhejiang Leasing, have exceeded profit and tax turnover of 10 million yuan. Among them, more than fifty have become the important backbone enterprises of the country. The corporation has fostered massive representative industries of Zhejiang, i.e., large or medium-sized enterprise groups and local backbone enterprises, such as Wanxiang Group, Jiaojiang Crystal Plant, Zhejiang Wolong Group, Shangfeng Group, Yuhuan Refrigerator-Compressor Plant, Tongxiang Gigantic Stone Group and Star Electric Appliances, etc. In recent years, the corporation has actively extended its business scopes to medical equipment, electronic communication, environmental equipment, public facilities and real estate, and even developed the successful launch of programs like "Shaoxing Radio & Television", "Hangzhou Transit" and "Guangzhou COL", etc. Thus it has successfully carried its basic business of financial leasing into the professional fields and high-tech industries. At present, the corporation has possessed of four holding companies, three branch institutions and more than thirty agent organizations basically covering the whole province. Its staff members are mostly specialists in the fields of finance, trade, foreign exchange and law, etc. With the idea of "developing with innovation", the Corporation takes advantage of its proper management and favorable conditions, which blends finance with trade and financial capital with financial material, so as to make contribution to the promotion of new industrial development, upgrade Zhejiang's economy and create the aircraft carrier in Chinese financial leasing field.