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CALC delivers ARJ21 Jet to Indonesia's TransNusa using cross-border RMB settlement

en.lingang.gov.cn| Updated: Jun 6, 2024 L M S

The third domestically-produced commercial aircraft is delivered to TransNusa on May 29. [Photo/WeChat ID: shlgguanweihui]

On May 29, China Aircraft Leasing Group Holdings Limited (CALC) delivered a domestically-produced ARJ21 jet to Indonesia's TransNusa via its special purpose vehicle (SPV) in Lin-gang Special Area. This marks the nation's first leasing transaction of a commercial aircraft using cross-border renminbi settlement.

This delivery is the third domestically-produced commercial aircraft exported through Lin-gang Special Area, marking another significant milestone for China's aviation industry.

Leveraging the cross-border financial policies of Lin-gang Special Area, the transaction utilized RMB for both aircraft procurement and leasing payments. The payment process was efficiently handled by a network of Chinese financial institutions, including the Bank of China's Jakarta branch, the Shanghai branch's RMB clearing center, and the Agricultural Bank of China's Shanghai branch. This enhanced the reliability and security of payment processing, expanded the use of RMB in international settlements, and underscored the growing competitiveness of Chinese civil aviation products and the RMB on the global stage.

This pioneering transaction highlights the high level of openness in Lin-gang Special Area, promoting RMB internationalization and strengthening international cooperation. Lin-gang Special Area will continue to advance its cross-border and logistics sectors, supporting national strategies and accelerating the global reach of Chinese aviation products and financial services.