OREANDA-NEWS. July 01, 2013. The Shipbuilding Finance Center of China Development Bank (CDB) signed a Development Financing Cooperation Agreement with Reignwood International Leasing Company Ltd in Beijing. Under the agreement, CDB will innovate in the model of "lending-leasing cooperation" by financing Reignwood with USD 10 billion for its marine engineering equipment leasing business. Li Jiping, vice president of CDB, and Yan Bin, chairman of the board of the Reignwood Group, attended the signing ceremony.

Marine engineering equipment is a strategic industry that implements the 18th Party Congress' guiding principle of "building a maritime power" as well as a core driving force for enhancing the future development quality of China's marine economy. The cooperation between CDB and Reignwood Leasing is an important measure in financial support for the upgrading and development of the nation's marine engineering equipment manufacturing industry, and will greatly push forward the building of a stronger and bigger marine engineering equipment industry in China.

As China's major bank for longer-term investment and financing that has, over the years, given play to its advantages in offering comprehensive financial services including investment, lending, bonds, leasing, and securities, CDB has actively supported the upgrading and development of the marine engineering equipment industry, joined hands with professional leasing companies with potential, and offered financing to push forward the transformation and upgrading of the shipbuilding industry toward marine engineering equipment and other high-end areas so as to continually enrich the development of the marine economy and serve the strategy of building a maritime power.

Founded in 2008 with the approval of China's Ministry of Commerce, Reignwood International Leasing Company Ltd is mainly engaged in the marine engineering equipment leasing business. Having established good cooperative ties with major domestic shipbuilding enterprises and major oil and gas companies, offshore engineering and service companies at home and abroad, Reignwood Leasing has become a leader in the domestic marine engineering equipment leasing business.