Tianjin – 15 July 2015 – China Aircraft Leasing Group Holdings Limited (“CALC” or the “Group”, stock code: 01848.HK), the largest independent operating aircraft lessor in China, announced that its wholly-owned subsidiary registered in Tianjin, China Asset Leasing Company Limited (“CALC Tianjin”), was enlisted one of the nine pilot enterprises for the Centralized Operation of Forex Capital of Multinational Companies Program in Tianjin, approved by the State Administration of Foreign Exchange (SAFE). According to the circular issued by SAFE concerning the Newly Selected Multinational Enterprises for the Pilot Program for the Centralized Operation of Forex Capital (Integrated Circular [2015] No. 301), CALC Tianjin is the first ever leasing company in China which is allowed to form a cross-border foreign currency fund pool. CALC Tianjin is also the only leasing company in China which is qualified for the program.

By setting up a master account for domestic funds and international funds respectively, CALC Tianjin opens up its link for onshore and offshore capital, which in turn facilitates the use of foreign debts, as well as cross-border flows of capital. It significantly optimizes the Group’s flexibility in allocating forex capital onshore and offshore, facilitating the management and utilization of forex capital, and lays the foundation for the Group’s further international development.

According to the circular concerning the Manual of Procedures for the Centralized Operation of Forex Capital by the Multinational Enterprises in Tianjin (Tianjin Circular [2014] No. 66), the policy would allow the business development of the Group and its member companies for the collection and centralization of offshore forex capital, such as the centralized management of onshore forex capital, allocation of foreign debt quotas as well as fund collection and payment for ordinary business operations, as well as the settlement netting.

The initiation of the pilot program by Tianjin Free Trade Zone for the leasing company marks a significant step for the innovation in forex management system, symbolizing the capability and capacity of its financial innovation. CALC Tianjin, part of the CALC Group, is shouldering the role as the pioneer in internationalization of China’s leasing business. It is committed to facilitating industry development, and to sharing its experience in new policies setting and implementation, in order to assist the government for its innovative development of new policies.

Mr. Pitney Tang, Senior Vice President of CALC, said, "CALC puts a strong emphasis on enhancing   exchanges between the government and enterprises. Since its establishment in Dongjiang Free Trade Zone in 2010, CALC Tianjin has been actively practicing government’s new policies in regards to the innovation of leasing industry. We are a forerunner of adopting new models, and the projects we launched have established the showcases for the industry, which helped promote the industry development with our practical experience. Being among the first batch of pilot enterprises and the only company from the leasing industry for the Centralized Operation of Forex Capital of Multinational Companies Program has demonstrated the government’s recognition of CALC’s effort and achievement over the years. It also shows the government’s strong support in CALC’s future development. We are pleased to be able to further leverage the competitive advantages of DFTZ for its favourable policy environment and industry resources, to promote the steady development of our aircraft leasing business and structure innovation. We are honored to have actively participated in the progress of opening up of capital transactions for cross-border activities. We will continue to devote ourselves in assisting the acceleration of the internationalization of China’s aircraft leasing industry, and are looking forward to witnessing Tianjin to further enhance its status as an international aircraft leasing centre.”

In additional to CALC Tianjin, the SAFE approved pilot enterprises for the Centralized Operation of Forex Capital of Multinational Companies Program in Tianjin include Motorola and Kerry Oils & Grains (China) Limited.