(Yicai) May 31 -- China’s first cross-border leasing of a homegrown aircraft settled in offshore Chinese yuan has been successfully completed.

China Aircraft Leasing Group Holdings delivered a China-made ARJ21 plane to Indonesian carrier Transnusa Airlines with a leasing-export approach through its special purpose vehicle established in the Lingang Special Area in the Shanghai Free Trade Zone, the Hong Kong-based company announced on May 29.

Based on the cross-border financial policies of the Lingang Special Area, the leasing export deal was settled in Chinese yuan for both the procurement and leasing sides.

Leasing payments will be settled through Bank of China Jakarta Branch and the Chinese yuan clearing center of Bank of China Shanghai Branch, with cross-border coordination among domestic and overseas branches of Chinese financial institutions, such as Agricultural Bank of China Shanghai Branch, effectively ensuring the timely and security of payments.

Transnusa is the first overseas airline using the ARJ21, which has been operating smoothly in Indonesia for one year.

Editor: Futura Costaglione