BOC Aviation announced the official opening of its latest subsidiary, BOC Aviation Leasing (Tianjin), located within the Dongjiang Free Trade Port Zone in Tianjin, China.

To mark the opening of this new subsidiary, Chen Siqing, president and vice chairman of Bank of China, and Cui Jindu, member of Standing Committee of the Communist Party of China Tianjin Committee and vice mayor of Tianjin, signed a Memorandum of Cooperation.

“As BOC Aviation focuses on the next stage of its growth, in order to deepen our relationship with our customers in China, we have taken the strategic decision to open our latest subsidiary there,” said Robert Martin, managing director and CEO. “We expect China to continue to be one of the fastest growing aviation markets in the world and this step will enable us to support our customers in this important market.”

BOC Aviation is an Asia-based aircraft leasing company with a portfolio of 246 owned and managed aircraft operated by 58 airlines worldwide, and another 194 aircraft on firm order, as of September 2014.

BOC Aviation, owned by Bank of China, is headquartered in Singapore with offices in Dublin, London, Seattle and Tianjin.