Yes, approval is required.
The investor shall submit the above materials to the provincial commerce department where the proposed enterprise is located, and if the provincial commerce department approves the establishment, it shall issue a Certificate of Approval for Foreign Invested Enterprises, and if it does not approve the establishment, it shall explain the reasons in writing. The provincial competent department for commerce shall, within 7 working days after the approval of the establishment of foreign-invested leasing companies, submit the approval documents to the Ministry of Commerce for the record.
The establishment of a foreign-invested financial leasing company shall be submitted by the investor to the competent provincial department of commerce where the proposed enterprise is located for the submission of application materials; the competent provincial department of commerce shall report the preliminary examination opinions to the Ministry of Commerce.
Expanded Information:
Financial Leasing Requirements:
1. Enterprises should have the asset scale, financial strength and risk management ability appropriate to the scale of their business. Overseas investors applying for the establishment of financial leasing enterprises must also comply with the relevant provisions of foreign investment.
2. The financial leasing enterprise shall be equipped with personnel with professional knowledge, skills and experience in finance, trade, law, accounting, etc. and a good track record, and shall have general managers, deputy general managers, risk control supervisors, and other executives with no less than three years of experience in financial leasing, leasing business, or financial institution operation and management.
3.? Financial leasing enterprises to carry out business activities, shall comply with the Chinese people *** and state laws, rules and regulations and the provisions of these measures, shall not be detrimental to the national interest and the interests of the social public ****.
Baidu Encyclopedia-Financial Leasing Company