BOCOM Finance Leasing plans subsidiary in Shanghai FTZ

Shanghai: Bank of Communications Finance Leasing is planning to open a subsidiary which will be dedicated to shipping and aviation, in the newly opened Shanghai Free Trade Zone (FTZ).

According to Chen Min, President of BOCOM Finance Leasing, the subsidiary is hopefully to open by the end of this year, currently the company is waiting for approval from authorities.

Chen said the subsidiary probably will get financing via issuing bonds directly to international market which will increase the operating efficiency of the company. [17/10/13]

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