Minsheng moves into leasing biz

China Minsheng Banking Corp, the country's seventh largest bank by market value, today established a financial leasing company to capitalize on China's leasing business' huge growth potential.

With a registered capital of 3.2 billion yuan, the Tianjin-headquartered company is one of the country's largest financial leasing firms.

Minsheng took an 81.25 percent share of the company with a 2.6 billion yuan capital injection, and the investment arm of Tianjin Free Trade Zone took the remaining stake.