TRILEASE International, which celebrated its 10th anniversary yesterday, expects its China business to grow more than 30 per cent this year. Managing director Oliver de Gromard said Hong Kong business was expected to improve between 10 and 20 per cent and added that competition was growing in the territory. Trilease, a joint venture among the Bank of China, the Bank of East Asia and Societe Generale of France, arranged leasing deals worth more than $1 billion last year. About 80 per cent of the business was arranged in Hong Kong and the remainder in China, although much of the equipment leased is being used in southern China. With the exception of land and buildings, Trilease will lease any machinery or equipment that is used in Hong Kong or China. Last year, it provided US$66 million to Air China for the purchase of two Boeing 737-300s and $30 million to China Northern Airlines to acquire a McDonnell Douglas MD-82. The leases would run for 10 years, Mr Gromard said. A further $50 million was provided to finance equipment for nine industrial projects in China. Trilease is still waiting for word from Chinese authorities on its proposal to set up a leasing venture in Xiamen involving partners from Taiwan. Mr Gromard said leasing business in China would become riskier when the authorities started exercising more control on the guarantees provided by banks and other financial institutions. He said China had given guarantee guidelines for its priority industries, which meant there would be higher risk in other sectors. The company plans to participate in equipment leasing projects for airports in Hong Kong and China.