TOTAL assets of Shanghai's leasing companies ten-folded in the past five years while industry insiders call for easier foreign exchange transactions and tax refund to expand cross-border businesses.

The assets reached 1.2 trillion yuan (US$180 billion) by the end of last year from 120 billion yuan in 2011, the Shanghai Leasing Trade Association said today.

The number of companies surged to 2,089 from 89 during the same period in Shanghai.