China Completes First RMB-Settled Leasing of Domestic Aircraft

TapTechNews May 30th news, TapTechNews learned from the official WeChat account of Shanghai Lingang that yesterday, China Aircraft Leasing Group Holdings Limited delivered a domestic jet ARJ21 aircraft to Indonesian Lion Air through the SPV it established in the Lingang New Area by means of leasing for export, completing the first leasing transaction in China with a domestic commercial aircraft as the subject and cross-border RMB settlement.

This is the third domestic commercial aircraft delivered to overseas through the Lingang New Area. Relying on the policy advantage of taking the lead in cross-border finance trial, the domestic aircraft's overseas business has achieved RMB settlement in both the aircraft purchase side and the leasing side.

The rent allocation is cleared by domestic and foreign Chinese-funded financial institutions such as Bank of China Jakarta Branch, RMB Clearing Center of Bank of China Shanghai Branch, and Agricultural Bank of China Shanghai Branch through cross-border linkage, ensuring the timeliness and safety of rent payment, making the field of RMB settlement more abundant. Carrying domestic aircraft to go overseas helps break the monopoly of the US dollar as the settlement currency in cross-border aircraft leasing.