Qingdao managed to lure in an extra six financial leasing firms in 2015, bringing its total to 45, with registered capital of 12.38 billion yuan ($1.89 billion) by the end of the year, according to the Qingdao Financial Leasing Association.

Qingdao's financial leasing industry now employs 219 employees and yields 145.98 million yuan in yearly revenue, six times higher than in 2014. It also paid 32.88 million yuan in taxes in 2015, almost three times times as much as 2014.

Both the country and the city unveiled preferential policies in 2015 to support the financial leasing industry.

For example, small and medium-sized enterprises (SMEs), with an annual revenue of less than 20 million yuan, which receive financing through financial leasing, can be subsidized with at most two percent of its financed amount, said the Qingdao Economic and Information Technology Committee.

In 2015, a total of 26 Qingdao SMEs received subsidies, up 53 percent compared with 2014.

With a good environment and favorable policies, Qingdao's financial leasing industry has a huge potential to develop, which promotes industrial upgrading and economic structural adjustment, said the committee.