The Export-Import Bank of China has bought a 50 percent stake in Avic Leasing Co Ltd from Avic Capital Co Ltd.

A report released on Thursday by Avic Capital, said that its parent Aviation Industry Corporation of China had agreed an all-share deal with Export-Import Bank.

Aviation Industry, which operates aviation and ship leasing businesses, will continue to manage Avic Leasing, which has registered capital of 2 billion yuan.

Avic Capital owns 54.8 percent of Avic Leasing.

The deal is still to be approved by regulators, but is expected to complete this year.