A320neo. Courtesy, Airbus

Industrial and Commercial Bank of China (ICBC) Financial Leasinghas placed an order for 30 Airbus A320ceo and 20 A320neo aircraft. The deal, worth about $ 3.5 billion at list prices, was announced Thursday during German Chancellor Angela Merkel’s visit to China.

ICBC Leasing becomes the first Chinese customer for the neo.

ICBC Leasing senior EVP Li Xiaopeng said the order will “enhance our portfolio in anticipation of increasing demand of the aviation markets in China, Asia Pacific region and the world as well.”

ICBC’s aircraft order was made amid ongoing Chinese government protests against the European Union’s Emissions Trading Scheme tax (EU ETS). It is reported that Beijing is encouraging Hong Kong Airlines to cancel its Airbus A380 order to retaliate against the EU ETS ( ATW Daily News, Aug. 16 ).