Industrial and Commercial Bank of China (ICBC) and BNP Paribas recently provided overseas operating lease financing of $34 million to Air China for introduction of one Boeing 737-700 passenger plane. This project is the first overseas aircraft lease financing offered by China's commercial bank domestically.

An official with ICBC said the cooperation with BNP Paribas, as ICBC's innovation in adjusting the business category of aircraft lease financing, breaks foreign banks' monopoly in the field of overseas aircraft lease financing.

By People's Daily Online