China Eastern Airlines International Finance Leasing Co Ltd opened its doors in the China (Shanghai) Pilot Free Trade Zone on Tuesday.

Officials said that as well as to the aviation industry it will be offering leasing facilities to various other target markets including the communication and medical sectors.

The company, established with 1 billion yuan ($163.38 million) in registered capital by China Eastern Airlines, CES Capital International (Hong Kong) Ltd and Yingde Gases Group Company Limited, has been granted a 10 billion yuan ($1.6 billion) credit facility with the Shanghai branches of China Development Bank and Bank of China, it said.

It also revealed it has signed an agreement to lease 14 aircraft for China Eastern Airlines in an arrangement with China Development Bank.