AVIC Capital has announced that China Exim Bank intends to acquire 50% equity of its subsidiary AVIC Leasing.

AVIC Capital said China Exim Bank will enhance AVIC Leasing’s core competitiveness if it becomes a strategic shareholder of the company, and it will also help the company get low cost funds and strengthen its advantages in aircraft leasing and ship leasing.

In the meantime, AVIC Capital plans to issue RMB5bn worth of shares to ten investors to replenish funds to its financing subsidiaries.

Currently the registered capital of AVIC Leasing is RMB2bn, and AVIC Capital controls 54.8% of its equity.