The Bank of Communications Financial Leasing Co., Ltd. (BOCOM Leasing), a wholly-owned subsidiary of Bank of Communications, has contributed to Belt and Road cooperation through serving the aviation and shipping sector with fruitful results as this year marks the 10th anniversary of the China-proposed Belt and Road Initiative (BRI).
In the aviation leasing sector, BOCOM Leasing has served 18 aviation customers in Belt and Road countries and regions as of September 2023, with a cumulative placement amount of nearly 30 billion yuan, and the balance of related leasing assets amounting to 23.5 billion yuan. The company has worked closely with Flydubai, Korean Air, Wizz Air, Etihad Airways, among others.
In the field of shipping leasing business, the company has established cooperative relationships with 29 clients such as Pacific International Lines (PIL) from seven Belt and Road countries and regions. BOCOM Leasing has placed nearly 50 billion yuan in shipping projects in Belt and Road countries and regions as of September 2023, with the balance of related shipping leasing assets reaching 40 billion yuan.
In the meantime, the company has actively practiced the concept of green development and increased the financing and delivery of green and low-carbon new technology aircraft models along with the advancing of the high-quality Belt and Road cooperation.
In 2022, BOCOM Leasing realized the delivery of the first aircraft using sustainable bio-jet fuel by a leasing company in China. Its green aircraft proportion reached 41 percent as of the end of September.
In terms of shipping, the company has continued to increase the proportion of environmentally friendly green ship types in its fleet, and has increased the investment in green financing. The six 24,000 TEU container ships delivered this year, for example, adopt new green, energy-efficient technology, which can effectively reduce the total energy consumption of the ships and reduce carbon emissions.
According to the Q2 ranking released by the third-party consulting firm Cirium on global aviation leasing companies, BOCOM Leasing ranked 10th internationally in terms of the size of its aviation leasing assets and the second among domestic leasing companies.