Core Insights - The Guangdong branch of the State Administration of Foreign Exchange has successfully processed the first pilot business for shared foreign debt quotas between parent and subsidiary companies in financing leasing, marking a new avenue for cross-border financing for leasing companies in Guangdong [1][3] Group 1: Policy and Innovation - The rapid development of China's financing leasing industry has led to the establishment of Special Purpose Vehicle (SPV) subsidiaries for leasing large equipment, but these subsidiaries often face challenges in obtaining sufficient foreign debt quotas due to net asset limitations [3] - To address the financing difficulties faced by SPV subsidiaries, the Guangdong branch of the State Administration of Foreign Exchange introduced a pilot policy allowing eligible leasing companies to share foreign debt quotas with their SPV subsidiaries, thereby broadening financing channels and enhancing financing capabilities [3][4] Group 2: Efficiency and Speed - The Guangdong branch of the State Administration of Foreign Exchange provided timely support to Southern Airlines International Leasing Company, enabling them to successfully borrow $165 million in foreign debt within just two business days [4][5] - The branch optimized the business processing workflow through proactive communication and expedited procedures, ensuring efficient handling of shared foreign debt quotas and foreign debt registration for the company and its SPV subsidiaries [4] Group 3: Economic Empowerment - The pilot business allows the two SPV subsidiaries of Southern Airlines International Leasing Company to increase their foreign debt quota from a combined 5 million RMB to nearly 2.5 billion RMB, significantly alleviating liquidity pressures and facilitating better fund management [4][5] - This initiative supports the aviation industry by enabling more flexible and convenient use of cross-border funds, meeting the demands for aircraft leasing and second-hand material purchases, thus strengthening the integration of the aviation supply chain [5] Group 4: Industry Development - The Nansha area has become a hub for aircraft leasing, with over 120 registered SPV companies and a cumulative delivery of 311 aircraft, leading to an asset scale exceeding 100 billion RMB [6] - Nansha has achieved significant breakthroughs in innovative business models, including the first national asset package cross-border transfer and the first offshore leasing in Guangdong, promoting the growth of the aircraft leasing industry [6]