WPKLettertotheLeasingBusinessCommitteeAnnualMeetingDearOnbehalfofXinDeTelecomemployeesandmanagementandourshareholders,SiemensandCITIC,IwishtoextendheartycongratulationstoMrJiangZhongQinasheassumesthepositionofChairmanoftheLeasingBusinessCommittee.Hiswisdom,insight,creativityandprofessionalismarewellknownandappreciatedbyhiscolleaguesacrossthewholeindustry,aswellasinourowncompany.MayIalsoexpressourgratitudetoMr…………………………,outgoingChairmanandnowVice-ChairmanoftheLeasingBusinessCommittee,forhisdevotiontodutyandleadershipthroughthepastyears.IwasalsopersonallyverysurprisedandhonoredtobeaskedtoserveasSeniorAdvisortotheLeasingBusinessCommittee,andpleasedtoacceptthisresponsibility.Now,itmaynotseemtobeaverygoodstartasaSeniorAdvisorthatIamnotpresentatthisweek’ssessions.IregretmissingthepleasureofreunitingwithourcolleaguesfromacrossthecountryatthefirstannualgeneralmeetingoftheLeasingBusinessCommitteeinthisnewmillenniumandyearofthedragon.Theannualmeetinghasproventobethemostimportantopportunitywehaveforexchangingnewideasandconcernsofcommoninteresttousall.However,Iaskyoutopleaseexcuseme,asthisyeartheannualmeetingcoincideswithanotherimportantinternationaleventwhereIhadapreviouscommitment.Thisweek,Iamrepresentingmycompany,XinDeTelecom,andourhomecountry,China,asadelegatetotheAPECCEOSummitinBrunei,joiningwithgovernmentandbusinessleadersfromthe21membereconomiesoftheAsiaPacificEconomicCouncil.Here,weareaddressingissuesofopeningmarkets,freeingtheflowofcapital,peopleandgoodsandimprovingtheinvestmentandbusinessenvironmentsintheregion.OfparticularfocusforusissupportingChina’sfulladmissiontotheWTO,forwhichbilateralnegotiationsaretakingplacehereinBruneiontheside.FollowingtheAPECCEOSummitinBrunei,IwilljointheannualmeetingoftheCableandSatelliteBroadcastersAssociationofAsiainSingaporetoassumemypositionontheboardofdirectors,theonlymemberrepresentingaChina-basedcompany.“What”,youmayask,“istheCEOofaSino-ForeignFinanceLeasingCompanydoingatanAsia-PacificbusinessconferenceandjoiningtheBoardofanAsia-widebroadcastindustryassociation?Whatdoesthishavetodowithfinanceleasing?”BeforeIansweryourquestion,Ihavetomakeafewobservationsandaskafewquestionsofmyown.-2-WTOiscoming.Whatareyougoingtodoaboutit?TheSino-foreignfinanceleasingsectorisachildofscarcity,born20yearsagoatatimewhenChineseenterprisesandministrieshadclaimtoinsufficientforeignreservestopayfortheimportedtechnologyandequipmentsobadlyneededforthemodernizationofthenation.ForeignbanksusedleasecompaniesasawaytoentertheChinacreditmarketsaheadoftheissuanceofbankinglicensestoforeignbanks.SuppliersusedLeasecompaniesforsalesfinancingchannels.Now,Chinaisfacinganewpotentialinfluxofforeignfirmsseekingpartners,capitalandforeigncooperationmodels.Willthebusinessmodel,businesspracticesandexpertiseexistinginsino-foreignfinanceleasingcompaniestodaysurvivethenextwaveofopeningandreform?Willtheeconomichistoriansofthenextdecadebewritingaboutthepost-WTOevolutionofoursector,orwillwebedescribedasaninterimformthatbecameirrelevantwiththebroader-basedliberalizationofChina’sfinancialservices,manufacturing,import/exportsectors?ThereasonwhyweatXinDeTelecomparticipateininternationalconferencesandbuildourrelationshipsinspecificindustrysectorsinsideandoutsideofChinaisbecausewebelievethisisthefutureofcompanieslikeours.Yes,weareaPRClicensedsino-foreignfinanceleasingcompany,acc...
