Chinese OEMs turn to leasing to plug finance gaps
Amid great price volatility of raw materials, manufacturers inked deals with banks to lease raw metals from them rather than asking for loans to purchase the metals.
A Chinese original equipment manufacturer (OEM) in Wenzhou recently borrowed 1005 tons of silver – worth more than Rmb3.4 million ($0.55 million) – from a bank to cover its production needs, reported local government newspaper Wenzhou Daily, on July 23.
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