Boeing Teams up with 2 Chinese Financial Institutions

Boeing has signed deals with CDB Leasing Co and China Construction Bank (SHA: 601939, HKG: 0939), the world's second biggest lender by market value, to tap the $4.5 billion Chinese market of aircraft financing and help the local financial institutions step into the world market.

CDB Leasing agreed to offer ¥25 billion ($1 = ¥6.83) for financing and leasing Boeing products. The size of the deal with China Construction Bank was not disclosed.

The US aircraft maker had previously entered into partnership with Industrial & Commercial Bank of China (SHA: 601398, HKG: 1398), Bank of China (SHA: 601988, HKG: 3988), China Development Bank and The Export-import Bank of China. Boeing expects China to purchase 3,770 aircrafts valued at $400 billion in the coming 20 years to become the second largest civil aviation market.