China’s largest oil company will set up a leasing business,
China Business News has reported.

According to the publication, China National Petroleum Corp
(CNPC) has been given regulatory approval to roll out Kunlun
Financial Leasing (KFL), a joint venture with Chongqing Machinery
and Electronics Holdings.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

CNPC will hold a 90 percent stake in Kunlun, after providing
€582 million of its €647 million starting capital.

The first Chinese lessor to be founded by a non-financial
institution, Kunlun will target equipment finance for the
manufacturing sector, as well as for CNPC’s business in the oil
industry.

Fred Crawley

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.