Asia Credit:Monday Tidbits -Chinese Lessors,Still promising fundamentals

Solid fundamentals backed by strong growth potential.

    In our view, the near-term outlook for Chinese leasing companies continues tolook promising, underpinned by strong support from the Chinese governmentand by being a strategic focus for parent banks. The fundamentals have beenresilient thus far - since 2009 to date, the number of lessors in China haveincreased by 68% CAGR while achieving 44% CAGR in leasing contract (Fig 1).

    Chinese lessors under coverage also witnessed strong business momentum