The leasing arm of the China Construction Bank, CCB Leasing International, is to launch its international aircraft leasing headquarters here.
The bank, the fourth largest in the world, has signed a Memorandum of Understanding with IDA Ireland.
Under the terms of the deal, Ireland will be the headquarters for all of the bank's aircraft leasing activities outside of China and it plans to expand into other leasing areas.
The group also plans to grow its aircraft fleet in Ireland to 200 aircraft over the next five years.
"Ireland is an ideal launch pad for European, African and American markets and we aim to expand into shipping and other leasing activities from our Irish base in the future", commented Hongzhang Wang, Chairman of China Construction Bank.
"China Construction Bank is an important part of IDA's growing portfolio of Chinese leasing companies that now includes the leasing arms of five of the top six Chinese banks," commented IDA Ireland's CEO Martin Shanahan.
"Attracting investment from Asia is an important part of IDA's global strategy and China a key strategic market for us," he added.
50% of the world's commercial aircraft fleet and over 83 billion assets are managed out of Ireland, while 14 out of 15 of the biggest 15 world lessor companies are located here.
The aircraft leasing industry in Ireland currently employs more than 1,200 people.
