Leading financial firm ICBC Leasing signed a memorandum of understanding with Boeing Commercial Airplanes and Boeing Capital, ICBC Leasing said on Wednesday.

The MOU aims to boost aircraft sales and leasing, as well as improve after-sale services.

"The signing is an important step for ICBC Leasing to expand our global business," said Cong Lin, president of ICBC Leasing.

Cong said setting up a cooperative mechanism with a major aircraft manufacturer will benefit customers and strengthen the competitiveness of ICBC Leasing.

Raymond Conner, president of Boeing Commercial Airplanes, agreed.

The Chinese financial leasing sector is growing with the nation's aviation industry and we believe ICBC Leasing will be a global leader, he said.

ICBC Leasing has assets of about 143 billion yuan ($23.3 billion) and manages more than 300 aircraft.