CRRC launches rolling stock finance business
CHINA: CRRC and Tianjin Trust Co have launched a financial leasing subsidiary with the aim of expanding the rolling stock manufacturing group’s export activities and supporting the government’s Belt & Road Initiative.
Target market sectors include urban rail vehicles, as well as high speed trainsets, high-power locomotives and wagons.
CRRC Financial Leasing Co Ltd is registered in the Dongjiang Free Trade Port Zone at Tianjin, with an initial capital of 3bn yuan.
CRRC said it was the first financial leasing firm to be approved following the creation of the China Banking & Insurance Regulatory Commission last year.