Ma Hong (second row, second from right), Chairman of the Board of CDB Leasing
Yu Hongfei (second row, second from left), Partner and Head of Greater China at MBK Partners
Zhang Chao (second row, first from the right), General Manager of the Inclusive Finance Department, CDB Leasing
Yang Nan (second row, first from left), CEO of CAR Inc.
Ai Yang (first row, right), Vice President of CDB Leasing
Gao Dewu (first row, left), Vice President of CAR Inc.
On September 27, CDB Leasing and CAR Inc. entered a strategic partnership, valued at 10 billion yuan. According to the agreement, the two parties will leverage their leading positions in their respective industries to expand their presence in the car rental market and harness the power of inclusive finance to bolster the travel and transport sector.
The leasing business of CDB Leasing combines financing and leasing and thereby has a clear edge over its competitors. It does its best to support the real economy and make financial products and services accessible and affordable to all businesses. CDB Leasing has actively involved in the car rental industry by forging partnerships with leading companies in the industry. It has signed several agreements with CAR Inc., involving 8,534 vehicles, which are used to support tourist travel in more than 30 cities across the country. This RMB10 billion strategic partnership is a major step taken by CDB Leasing in accordance with the Chinese central government's economic plan to support the real economy, increase consumption, and spur investment.
CDB Leasing has made a continual effort to improve its capabilities related to inclusive finance. In recent years, in the face of the unprecedented uncertainty brought on by COVID-19, CDB Leasing has promptly provided financial services to businesses in need, strengthened its support for SMEs in the logistics, agricultural, construction machinery, and other industries, alleviated the financial pressure of small and micro-sized companies by providing preferential interest rates, customized rental extension plans, etc. Under this partnership, CDB Leasing and CAR Inc. will pool their financial and asset advantages to establish a car rental joint venture that will promote novel ride-sharing models and produce sustained social benefits.