Recently, a strategic cooperation framework agreement was signed by Ms. Bo Lili, head of International Shipping and Finance Development Promotion Center of Dongjiang Free Trade Port Zone of Tianjin and Mr. Kuang Shuangli, senior partner from Dacheng. The signing was witnessed by key leaders of Dongjiang Free Trade Port Zone of Tianjin and a number of senior executives of financial lease businesses.
Dongjiang Free Trade Port Zone of Tianjin (hereinafter referred to as “Dongjiang Port”) is one of the most open functional economic zones in China. It is the only airplane leasing pilot zone approved by the State Council and is deemed an international shipping and logistics center in northern China. Besides, it is spearheading the overall reform of Binhai New Area where it is located and the new round of opening-up in China.
The International Shipping and Finance Development Promotion Center of Dongjiang Port (“Promotion Center”) is a public service organ that promotes the lease of airplanes, ships and large equipment as well as shipping finance and offshore finance. It also takes part in systems innovation regarding the registration of offshore ships and taxation on international shipping.
Dacheng is the only law firm that entered into such agreement with the Promotion Center. Dacheng’s financial lease practice comprises a batch of attorneys dedicated to serving financial lease businesses at home and abroad on both contentious and non-contentions matters. Its clientele currently includes a dozen of renowned financial lease companies in and outside China. The subject matters involved in the transactions are airplanes, ships, ocean drill platforms, public facilities, rail transport facilities, means of transport, medical equipment, energy-saving and carbon-reduction equipment, etc. The transactions are arranged differently, such as financial lease, operating lease, sale-and-leaseback, entrusted lease, joint lease, leveraged lease and structured participating lease. Besides, the practice led by Mr. Kuang has always been researching and practicing law regarding outbound lease of large and cutting-edge home-made equipment such as airplanes, ships, ocean drill platforms, high-speed trains, subway trains and production lines. Kuang has accumulated deep knowledge and rich experience about law practice, taxation and regulatory issues in the course of participating in numerous cross-border lease projects.
Dongjiang Port enjoys the most favorable policies and government support in relation to financial lease and is one of the most grown functional zones in China. The joining of hands between the Promotion Center and Dacheng would be a tremendous advantage for parent companies, subsidiaries and single plane/ship SPVs registered or to be registered at Dongjiang Port.