CRRC starts financial leasing business for overseas expansion

FORM: 17/04/2019 Browse number:556

CRRC has recently unveiled its financial leasing subsidiary, CRRC Financial Leasing Co., Ltd. (CRRCFL), in order to expand its overseas business.

Registered in Dongjiang Free Trade Port Zone, Tianjin, China, CRRCFL starts its business with a capital of 3 billion yuan (443 million U.S. dollars).

As the first financial leasing firm approved after the establishment of the China Banking and Insurance Regulatory Commission last April,  CRRCFL is jointly founded by CRRC Corp. Ltd., its parent company CRRC Group, and Tianjin Trust Co., Ltd.

As CRRC’s new and major financial service platform targeting in the rolling stock industry, CRRCFL is devoted to joining the global rail transit equipment market to increase the export of China-made world-leading railway products, including high-speed trains, high-power locomotives, freight wagons and urban rail transit vehicles, through financial leasing.

This new company will help CRRC expand its global business further by the combination of capital and product to realize in-depth cooperation with countries along Belt and Road.