Dongjiang FTPZ banks on innovation to boost growth momentum
By Yang Cheng in Tianjin | China Daily | Updated: 2019-09-25 08:07
The Dongjiang Free Trade Port Zone, the world's second largest airplane leasing market behind that of Ireland, is taking concrete measures to tackle the challenges of a massive wave of airplane redeliveries or contract terminations that are expected to hit over the next two years.
Since the founding of the zone in 2009, a total of 1,500 airplanes have been leased out, with total assets hitting up to 1.5 trillion yuan ($211.4 billion).
Airplane leasing contracts normally last eight to 10 years, and then the devalued planes may be leased, redelivered, undergoing major maintenance, or their services may be stopped.
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