Gov't partners with Tianjin for aircraft leasing advancement

The parties aim to establish an aircraft leasing and financing platform.

Authorities have signed a memorandum of understanding to advance aircraft leasing and financing sectors.

Transport & Logistics Bureau and the Tianjin Dongjiang Free Trade Port Zone Administrative Commission representatives signed the agreement.

 The deal will utilise the parties' comparative advantages and work together to build a regionally linked and complementary aircraft leasing and financing platform.

They will specifically focus on financing, business, international competition, publicity, and the promotion of talent exchanges and training.

Transport & Logistics Secretary Lam Sai-hung noted that the government has been promoting the development of aircraft leasing per the Greater Bay Area Outline Development Plan and the report to the 20th CPC National Congress.

He noted that “as an international financial centre and aviation hub, Hong Kong is well positioned to provide the necessary resources and support to aircraft lessors.”

With the MOU, Lam said he looks forward to more aircraft lessors, airlines,  and individuals utilising the joint platform.

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