A Study on the Development of China’s Financial Leasing Industry Based on Principal Component Analysis and ARIMA Model
Round 1
Reviewer 1 Report
This paper has some contribution and it is interesting. The authors did a lot of work and the writing is good enough. But I think this topic is not that new and the research design on the wole is a little bit too simple.
Author Response
Dear editor,
I am much honored to receive your recognition for my paper. This paper has a special meaning because it is the last paper before I graduate with my Ph.D. I have to submit three papers to my university, two of which I have completed so far, and this is the last one. Therefore, this paper is related to my ability to graduate by June 30. Thank you for the further comments and suggestions on our paper.
I agree with you that the topic of a study on the development of China's financial leasing industry based on principal component analysis is not a very new one. The current research methodology is mature. However, China is accelerating its financial reform, and scholars have not yet studied the area of financial leasing sufficiently. In particular, the COVID-19 pandemic has seriously eroded the economy in these years. It makes us more interested in understanding the development of financial leasing industry.
In this context, we have written this paper in the hope that it will provide some reference for understanding the development of the industry and identify some problems in its development. We have revised the paper according to your comments. We have added a comparison of GDP penetration rates between China and developed countries and a scenario simulation of the impact of Covid-19. We analyze that the GDP penetration rate of the financial leasing industry has decreased and become more volatile since 2018, further illustrating the need for research on this topic.
Our revisions are currently limited due to time constraints. I will deepen the research in my future work. Thank you again for your valuable comments. Our have highlighted the changes in the manuscript. Please check the attachment.
Author Response File: 
Author Response.pdf
Reviewer 2 Report
An original approach to the financial leasing sector - was wondering if general ratios such as leasing penetration in total financial markets, % in GDP, average expenses with leasing are available at national level and may be included in the first part of the paper.
The paper needs some additional information (analysis of more ratios - such as the ones mentioned before). The article is rather limited as approach (simple in presentation - we intend to analyse this, these are the results, the conclusions), similar in approach to other analysis carried out by fellow researchers from the same country and therefore I consider it would benefit of a broader context. It seems to be the result of mathematicians - no added information if not absolutely necessary :) - just like an algorithm. Hope my input is useful.Author Response
Dear editor,
Thank you for the further comments and suggestions on our paper. We have revised our paper according to your comments and suggestions. Our treatment is discussed below (point-to-point and response in red). We have also highlighted the changes in the manuscript. Please check the attachment.
Author Response File: Author Response.pdf
Reviewer 3 Report
After reviewing this paper, I appreciate the authors' efforts to improve the article by incorporating the previous comments.
But still, there is one serious issue related to the data collection period. as the data has been collected from 2008-2021, but from 2019-2022 there was covid-19 which hit hard all economic sectors including the financial sector that's why data for those years did not fit within the previous years' data. How this issue is handled? what are the justifications for this?
Comments for author File: Comments.pdf
Author Response
Dear editor,
I am much honored to receive your recognition for my paper. This paper has a special meaning because it is the last paper before I graduate with my Ph.D. I have to submit three papers to my university, two of which I have completed so far, and this is the last one. Therefore, this paper is related to my ability to graduate by June 30. Thank you for the further comments and suggestions on our paper. We have revised our paper according to your comments and suggestions. Our treatment is discussed below (point-to-point and response in red). We have also highlighted the changes in the manuscript. Please check the attachment.
Author Response File: Author Response.pdf
Round 2
Reviewer 1 Report
The modifications are less targeted and substantive, and the study design is still relatively simple.
Author Response
Dear Reviewer,
Thank you for taking the time to review our paper on the development of China's financial leasing industry. We appreciate your comments and suggestions, which have been extremely helpful in improving the quality of our research.
In response to your feedback, we made several revisions to the paper. Firstly, we reworked the introduction to better highlight the significance of our research. Specifically, we aimed to provide clearer context and rationale for the study, emphasizing its importance in understanding the development of China's financial leasing industry.
Secondly, we incorporated an ARIMA model into our methodology to forecast the future development of the industry. This has enabled us to provide more nuanced insights into the factors that are likely to shape the industry in the coming years.
Thirdly, we reorganized our references to ensure that they are presented in a clear and consistent format, which we believe will enhance the readability and reliability of our work.
Finally, we optimized our conclusions and policy recommendations, drawing on our findings to propose specific strategies and actions that could promote the sustainable growth of the financial leasing industry in China.
We hope that these revisions have addressed your concerns and improved the overall quality of our paper. We remain committed to advancing our understanding of this important topic and welcome any additional feedback or suggestions you may have.
Best regards,
Weiwei Lin
