Nansha to set up global aircraft leasing center

Nansha will team with Hong Kong and Macao to build a global aircraft leasing center, as part of a series of initiatives launched by Guangzhou for the high-quality development of the local financing and leading industry on Dec 8.

It is expected that Guangzhou will establish a complete modern financing and leasing service system that leads in China by 2025, while cultivating a batch of leading companies with overall advantages and distinctive companies with high-quality development achievements.

The initiatives note that Nansha should make full use of its advantages in being part of the China (Guangdong) Pilot Free Trade Zone to promote the clustering of distinctive leasing industries, such as aircraft leasing and ship leasing. Financing and leasing companies are also encouraged to set up free trade accounts in Nansha.

New aircraft or ship leasing projects will receive a subsidy of up to 0.1 percent of the contract volume, with a maximum subsidy for each project being 1 million yuan ($152,673.12). 

Disposal projects of aircraft and ship leasing old assets are able to receive a subsidy of up to 0.5 percent of the contract volume, with a maximum subsidy for each project being 1 million yuan.