Recently, ICBC and HSBC Leasing Company entered an agreement to arrange USD 92.06 million for China Eastern Airlines Corporation Limited to acquire one Airbus A330-300 through French tax leasing. ICBC was also the guarantee trust bank and interest swap bank in this first tax leasing project ever taken by a domestic bank independently.

Tax lease financing is a new main area for financial renovation in nowadays international market. It is widely applicable in raising block capital. In 2005, foreign banks captured all the tax lease financings of aircraft for China's three largest airliners. But ICBC has started to arrange some tax leasing for these three airlines through corporation with foreign institutions since this year. ICBC thus became the first domestic bank to break the foreign banks' dominance in this area.

Acquisition of A330-300 this time was ICBC fourth project in arranging aircraft financing for China Eastern Airlines Corporation Limited this year, and also the first tax lease-financing project ever arranged by a domestic bank independently.