TIANJIN, May 6 (Xinhua) -- The China (Tianjin) Pilot Free Trade Zone recently said as of March 2020, its cross-border leasing business accounted for more than 80 percent of the country's total.
Since it was launched in April 2015, the Tianjin pilot FTZ has been strategically positioned to be a high-level opening platform for the coordinated development of the Beijing-Tianjin-Hebei region, a national pilot zone for reform and opening up and a pilot field for institutional innovation, and a high-level free trade zone for the world.
After five years of development, the FTZ’s aircraft leasing and ship leasing business are dominant in China. By the end of March, 1,609 aircraft, 121 aircraft engines, 194 international ships and 22 Marine structures had been leased in the eastern part of the Tianjin pilot FTZ, data shows.
The total leasing assets of aircraft, ships and marine engineering equipment reached 94.552 billion U.S. dollars, accounting for more than 80 percent of the country's cross-border leasing business.
According to an official of the FTZ, one third of China's civil transport aircraft in service are leased through the Tianjin FTZ as it has become a world famous financial leasing business cluster.
(Edited by Yang Qi with Xinhua Silk Road, kateqiyang@xinhua.org)
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