Xiamen’s Xiangyu Bonded Area free trade zone has started its first aircraft leasing business, with a deal to supply Xiamen Airlines with a brand-new B737, which was delivered on June 10th, and will commence flights between Xiamen and Beijing. Following Tianjin and Shanghai, Xiamen Xiangyu Bonded Area has become the third free trade zone in China to set up an aircraft finance and leasing business. The new leasing model will help the region’s airlines save costs, as they will not pay withholding income tax at 6%-10%, or withhold and remit value-added tax at 17%. The upcoming tax refund policy within

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