Shanghai's pilot free trade zone plans to set up an international assets and equity trading platform for financial leasing companies as the authorities diversify financial services in the zone.

The platform, the first of its kind in China, will allow domestic and overseas financial leasing companies to trade property rights, debts and equities of leased assets, the China (Shanghai) Pilot Free Trade Zone Administration and the Shanghai United Assets and Equity Exchange jointly said yesterday.

"It's an extension of the zone's financial functions. It will help financial leasing companies improve asset management and expand fundraising channel," said Jian Danian, deputy director of the zone's administration.

Jian said the platform will provide an open trading environment through transparent evaluation and pricing systems and a standard trading procedure.

Ten financial leasing companies signed agreements to list assets and equities on the platform, including HNA Capital Holding Co, International Far Eastern Leasing Co, Shanghai Guojin Leasing Co and CMB Financial Leasing Co.

Yan Hao, assistant general manager of CMB Financial Leasing, said an open trading market is good for the industry as it enables companies to liquidize assets more efficiently and thus boost cash flows.

Since its opening in September, 225 financial leasing firms have been set up in the FTZ.