The financial leasing business in the Xiamen area of the China (Fujian) Pilot Free Trade Zone in East China's Fujian province witnesses steady growth. [Photo/VCG]

The Xiamen area of the China (Fujian) Pilot Free Trade Zone in East China's Fujian province has made great strides in the development of its financial leasing business since its establishment in 2015, local news reported on April 21.

Official data shows that a total of 445 financial leasing enterprises had registered in the zone by the end of March. The zone has become the country’s largest nesting zone for the financial leasing of second-hand aircrafts, while financial leasing businesses related to areas like ships and the integrated circuits industry have also witnessed growth in recent years.

Currently, there are 16 nationally large-scale leasing companies doing business in Xiamen, with the financial leasing business of second-hand aircrafts creating an industrial layout with an agglomeration effect.

Official data shows that the financial leasing business in the zone has helped raise the city's fixed-asset investment to more than 80 billion yuan ($12.36 billion), expediting the replacing of old growth drivers with new ones, as well as promoting Xiamen's supply-side structural reform.