On April 25, 2025, the "Several Provisions on the Management of Medical Device Finance Leasing in Pudong New Area" (hereinafter referred to as the "Provisions") officially came into effect. According to the Pudong New Area Market Supervision Administration, over the past year of implementation, through expanding the scope, optimizing policies, and clarifying rules, the administration has systematically addressed three major bottlenecks in the industry's development: overly narrow business scope, a "one-size-fits-all" regulatory standard, and the lack of clear rules for sale-leaseback transactions. This has effectively removed obstacles and injected momentum into the medical device finance leasing sector.
The Provisions have also effectively mitigated external risks through institutional innovation, promoting high-quality development in Pudong's medical device finance leasing industry characterized by "stable scale, optimized structure, and strengthened momentum." The effectiveness of the reforms is particularly evident against the backdrop of challenging market conditions.
**Policy Dividends Accelerate Release** Previously, the business scope of finance leasing companies was limited to "large medical equipment," which failed to meet the urgent demand of medical institutions for small and medium-sized, diverse medical devices. Consequently, a significant volume of business was abandoned due to "non-compliance with qualifications," constraining the industry's growth within a "narrow path." The Provisions took the lead nationally by expanding the business scope to "various medical devices suitable for fixed asset management," completely removing this barrier.
Following the implementation of the policy, projects previously hindered by scope limitations are now fully accessible. For instance, a county-level public hospital in northern China had once rejected Guoyao Ronghui Finance Leasing Co., Ltd. due to its lack of qualifications for financing small and medium-sized medical devices. After the new rules took effect, various equipment needed by the hospital, such as electronic endoscopes and mobile C-arm X-ray machines, could be included in the business scope. The two parties reached a cooperation agreement in September 2025 with a total contract value exceeding 13 million yuan.
Benefiting from this reform dividend, from April 25, 2025, to the end of March 2026, the medical device finance leasing industry in the entire district added 1,224 new projects for small and medium-sized medical devices, with new business scale reaching 10.763 billion yuan. The accelerated release of policy dividends has provided tangible benefits to enterprises.
**Establishing Rules for Sale-Leaseback Transactions** It was also reported that prior to the reforms, the sale-leaseback model accounted for over 80% of the medical device finance leasing industry but had long operated in a regulatory "gray area" with "no clear rules to follow," forcing businesses to proceed by "feeling their way across the river." The Provisions took the lead nationally in specifying detailed management requirements and quality management responsibilities for medical device sale-leaseback transactions, providing clear "operational guidelines" for both enterprises and regulatory authorities.
The recognition of the sale-leaseback model under the new regulations has provided compliant support for medical institutions to revitalize their existing equipment assets. For example, following the release of the new rules, Ping An Dianchuang International Finance Leasing Co., Ltd. quickly established a strategic cooperation with a hospital in Beijing, signing an agreement that includes sale-leaseback business. Through the sale-leaseback model, the company successfully helped the hospital revitalize its existing equipment assets, becoming a typical example of the policy's implementation.
"The new regulations have pointed the direction for us to conduct sale-leaseback business and given us a 'reassurance'," said a relevant person in charge of Ping An Dianchuang International Finance Leasing Co., Ltd. Over the past year, the company has signed over 410 new sale-leaseback projects, with a deployment scale exceeding 5.5 billion yuan, covering 259 clients.
Benefiting from this reform dividend, from April 25, 2025, to the end of March 2026, the medical device finance leasing industry in the entire district added sale-leaseback business with a scale of 15.53 billion yuan, marking the industry's entry into a new stage of standardized development.
**Differentiated Management Reduces Costs** Focusing on the unique characteristics of finance leasing operations, the Pudong Market Supervision Administration explicitly proposed establishing a quality management system tailored to the business. It took the lead nationally in forming a set of differentiated management requirements. The Provisions allow for the division of quality management responsibilities to be agreed upon through tripartite contracts, enabling enterprises to flexibly establish their institutional scope based on actual conditions and avoid making the quality management system a mere formality.
The clarified differentiated management requirements for sale-leaseback transactions have promoted a shift in the regulatory model from a "one-size-fits-all" approach to one that is precise and adaptable. This has significantly reduced the management costs for finance leasing companies, allowing enterprises to effectively assume their primary responsibility for quality management under the new system.
The Pudong Market Supervision Administration has actively listened to enterprise needs, developing a template for the "Medical Device Finance Leasing Quality Management System Document" for companies to reference. This has practically addressed the issue of relevant enterprises "not knowing how to reform or daring to reform," leading to an effective improvement in the overall quality management level of the industry.
**National Demonstration Effect Emerges** As of April 25, 2026, all 32 medical device finance leasing companies in the district have applied for and obtained approval for the business scope of "finance leasing of various medical devices suitable for fixed asset management" in accordance with the Provisions, including 5 newly established enterprises.
In September 2025, regulatory departments in some provinces formulated and issued relevant management regulations by drawing on the content of Pudong New Area's Provisions. Pudong's reform experience is gradually radiating nationwide, providing a replicable and promotable practical model for optimizing policies in related industries across the country.
Over the past year of implementation, the Provisions have addressed major industry challenges through "small-cut" reforms, achieving "steady progress" against the backdrop of overall industry pressure, fully validating the practical value of institutional innovation.
The Pudong New Area Market Supervision Administration stated that the next step would involve continuously monitoring industry dynamics and dynamically optimizing regulatory service strategies. This aims to ensure that truly high-quality enterprises can "travel light" during the industry's process of "slimming down and strengthening," further consolidating Pudong's leading position in the field of medical device finance leasing.