Innovation and Business Model of Agricultural Machinery Financial Leasing Mechanism: A Case Study of Weichai Lovo and Huiyin

Abstract

Since the “Thirteenth Five-Year Plan”, the level of agricultural mechanization in China has achieved tremendous growth, providing strong support for the comprehensive construction of middle-class society. At the stage of the “Fourteenth Five-Year Plan”, the development of agricultural mechanization is facing many problems. Fourteenth Five-Year Plan” into the current stage of agricultural modernization, the development of agricultural mechanization is facing many problems. Although financial leasing is developing rapidly in recent years, however, it has been carried out in China for less than 10 years, and the development of this kind of business cannot fully adapt to the strategic needs of national economic development. Therefore, this paper will start from the co-operation between two typical companies in the industry, and study the mechanism innovation and business design of financial leasing in the field of agricultural machinery from three aspects, namely, business mechanism, macro-economy and enterprise financial leasing path. In the mechanism innovation and business design should be carried out should improve the risk assessment system, the introduction of digital technology, in line with the development trend of green finance, and seek government support, so as to enable the steady development of financial leasing in the field of agricultural machinery financing.