ICBC Financial Leasing Macao Company Limited (“ICBC Leasing Macao Subsidiary”) was officially opened. As a professional subsidiary practically wholly controlled by ICBC Leasing, ICBC Leasing Macao Subsidiary is the first financial leasing company acquiring a financial leasing license in Macao owned by a mainland company since the Macao government announced its efforts to boost featured finance business. The establishment of ICBC Leasing Macao Subsidiary under the guidance and promotion of the Five-Year Development Plan of the Macao Special Administrative Region (2016-2020) serves as a good start and example for the overall building of a featured financial sector in Macao.
ICBC Leasing is one of the largest and the most innovative leading leasing companies in China. The incorporation of its Macao subsidiary will provide a significant platform supporting to ICBC Leasing’s further expansion of its overseas leasing business in commercial aircraft, business jets and other equipment.
Acting as the lead legal counsel to ICBC Leasing, KWM played an important role in establishment of ICBC Leasing Macao Subsidiary by participating in every aspect of the project, including investment structuring, preparing and submitting application documents for establishing the company, communicating with relevant authorities, issuing legal opinions and coordinating overseas counsels. Particularly, KWM PRC team has cooperated closely with the Hong Kong team, leveraging the high-quality resources of the two teams, to provide the client with one-stop comprehensive legal service. Both the client and the regulators have highly recognized KWM’s performance. The project is led by partner Wang Ning, and Tejaswi Nimmagadda from Hong Kong office.
KWM has a strong track record in advising Chinese and overseas clients on setting up banks and non-bank financial institutions. With its leading strength and legal resources in Asia and beyond, KWM is assisting domestic and foreign clients to get through the channels of different jurisdictions and to build a cutting-edge business blueprint with continuous innovation.
