CRRC has opened a financial leasing subsidiary, CRRC Financial Leasing (CRRCFL), as part of its overseas expansion business plan.
The subsidiary is registered in Dongjiang Free Trade Port Zone, in Tianjin, and has a CNY 3 billion (USD 443 million) capital.
CRRCFL is jointly founded by CRRC Corp., its parent company CRRC Group, and Tianjin Trust Co.
As CRRC’s new and major financial service platform targeting in the rolling stock industry, CRRCFL is devoted to joining the global rail transit equipment market to increase the export of China-made railway products, including high-speed trains, high-power locomotives, freight wagons and urban rail transit vehicles, through financial leasing.
This new company will help CRRC expand its global business further by the combination of capital and product to realize in-depth cooperation with countries along Belt and Road.
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