Xiamen Free Trade Zone leases out first plane
The Xiamen branch of Shanghai Pudong Development Bank (SPDB) Financial Leasing Co leased a plane to Chengdu Airlines in Nantong Xingdong International Airport, Jiangsu province on Nov 27, according to local media reports.
The Advanced Regional Jet for the 21st Century, or ARJ21, independently developed by the Commercial Aircraft Corporation of China Ltd (COMAC), will operate a non-stop flight from Nantong to Chengdu, Sichuan province.
According to SPDB Financial Leasing Co, 100 of the planes are expected to be rented out in Xiamen over the next two years.
The Xiamen Free Trade Zone, where SPDB Financial Leasing Co's Xiamen branch is located, has always had focus on financial leasing, especially aircraft leasing.
Statistics show that as of the end of October 2019, the Xiamen Free Trade Zone was home to a total of 421 financial leasing companies and 123 leasable aircrafts.
The free trade zone is also a center for the leasing of vehicles, seacrafts, medical equipment, and manufacturing equipment.
SPDB Financial Leasing Co is a national non-bank financial institution controlled by SPDB. COMAC is its second-largest shareholder.
The company has established 19 branches, introduced 15 leasable aircraft, and invested $800 million into the free trade zone since its establishment four years ago.
The Xiamen Free Trade Zone leases out its first plane to Chengdu Airlines in Nantong Xingdong International Airport, Jiangsu province on Nov 27. [Photo provided to chinadaily.com.cn]
Why Xiamen
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Xiamen is one of the most economically competitive cities in China and was one of the first Special Economic Zones on the Chinese mainland. As a vice-provincial city independently listed on the State development plan, it has provincial-level authority in economic administration and local legislative power. In 2010, the Xiamen SEZ was expanded to cover the entire municipality. Today, Xiamen is a modern and international port city.