ALC Signs RMB10 billion strategic cooperation agreement with China Development Bank

Eleanor Steed
By Eleanor Steed March 16, 2018 17:33

ALC Signs RMB10 billion strategic cooperation agreement with China Development Bank

CALC has announced that China Asset Leasing, a wholly-owned subsidiary of the Group, has signed a strategic cooperation agreement with the Tianjin Branch of China Development Bank (CDB), with an expected amount up to RMB10 billion.

The strategic cooperation between CALC and China Development Bank is mainly intended for key projects related to aircraft leasing which align with the “Belt and Road” initiatives, covering aircraft financing, working capital loans (as pre-delivery payments), asset-backed securitization projects, as well as financing for CALC’s aircraft recycling arm ARI. China Asset Leasing will coordinate business development and risk management activities, and will recommend key projects that particularly need financial support to Tianjin Branch of CDB. The latter will leverage its strengths as a strong development finance agency to provide comprehensive financial services through advance planning.

Winnie LIU, Chief Commercial Officer of CALC, commented, “We are delighted to enter into a strategic cooperation agreement with the Tianjin Branch of CDB, which will further strengthen our partnership with development finance institutions during the ‘13th Five-Year Plan’ period. The strategic cooperation represents a strong endorsement of CALC’s full range of capabilities in the aviation industry. CDB will give preferential consideration and greater support to our key cooperation projects in terms of policy initiatives, products, funds and other resources. Undoubtedly, such treatment will not only promote CALC’s expansion into the aviation markets along the ‘Belt and Road’ but also serve as a key support for the national aviation industry’s overseas endeavors. Our strategic cooperation with CDB will fuel our strong momentum as CALC progresses towards becoming a full value-chain aircraft solutions provider for global airlines.”

Dan FENG, Chief of Tianjin Branch of CDB, pointed out: “China Asset Leasing is a distinct company in the Experimental Area for Leasing Innovation of the China (Tianjin) Pilot Free Trade Zone. It is another innovative initiative for us, a financial institution, to establish a comprehensive and in-depth new strategic partnership with a strong enterprise like China Asset Leasing as we implement the spirit of the 19th CPC National Congress and the ‘One Belt One Road’ initiative. We will grasp the historical opportunities arising from Tianjin’s development to support enterprises to ‘go out’, helping CALC develop into an enterprise with relatively strong international competitiveness.”

Eleanor Steed
By Eleanor Steed March 16, 2018 17:33