A finance leasing company in Fujian province's Pingtan county has been playing an important role in the development of small and mid-sized enterprises across the province recently and put 590 million yuan ($96 million) into the finance-leasing sector in the first half of this year.

Funeng (Pingtan) Financing Leasing, a subsidiary of the Fire Energy Group, a leading European photovoltaic and renewable resources company, had revenues of 58.71 million yuan in the first half-year, with 45 million in profits, or nearly 90 percent of Funeng's expected annual profits.

Funeng was set up last August and has mainly confined its finance-leasing business to electric power, construction materials, port logistics, mining, and new energy and has one billion yuan in lease deals, bringing in 61.52 million yuan in profits, resulting in 23 million yuan in taxes.

It has assets of 1.2 billion yuan and has helped many small-to-mid-sized enterprises in the province solve their finance problems. Beneficiaries of its largesse are the Puyang Hydropower Station, Shouning county; Xiashakou, in Shaowu county; Jianneg Hydropower Station, city of Zhangping, and Lianchuang International Plaza, in the city of Putian.

The company is also active in increasing finance channels and has garnered $58 million in funds from Japan and Taiwan, and a 2.5-billion-yuan line of credit from banks in China, all of which can support the development of Fujian province's real economy.

Edited by Chen Zhilin and Roger Bradshaw