Recently, SICL launched an “Inside-territorial Special Customs Supervision” operating lease project in the Yangshan Special Comprehensive Bonded Zone of Lingang New Area, with a total value of about 187 million US dollars. This is the first project of its kind in Lingang New area and Shanghai as a whole. In this project, SICL set up three special purpose companies (“SPVs”) in the special comprehensive bonded zone and provided equipment leasing for a high-tech manufacturing enterprise in the form of operating lease. This leasing project makes full use of the policies of the special comprehensive bonded zone and provides diversified financing channels for enterprises through bonded leasing and a remote customs supervision mode.

This project has received great support from relevant administrations, which contributed greatly to its successful landing in Lingang New Area. In this process, SICL held multiple meetings with the Administrative Committee of Lingang New Area, tariff authorities, Yangshan Customs and other authorities to study the project. These administrations also guided and supported SICL in confirming enterprise qualification, handling import and export procedures, paying import taxes, and imposing remote supervision by entrusted customs. In the end, with coordination and support of the Lingang Administrative Committee, and customs, tariff and foreign exchange authorities, a number of breakthrough precedents were achieved, i.e., US dollar receipt and payment inside China, import and export of bonded equipment, and remote supervision by entrusted customs.

The successful landing of the “Inside-territorial Special Customs Supervision” operating lease project inside the Yangshan bonded zone marks another breakthrough and innovation achieved by SICL, as this project provides a specialized, high-quality and efficient comprehensive financial solution to support the leapfrog development of the IC industry.