The 'aggregation power' of Shanghai's banking industry helps to further the construction of an international financial center
2024-08-01
How can the construction of Shanghai International Financial Center be further advanced? At the press conference on "Shanghai Banking Industry Helps Promote the Construction of International Financial Center" held by the Shanghai Interbank Association on the 31st, the main leaders of several banking and financial institutions talked about the "aggregation power" of Shanghai banking industry to help promote the construction of international financial center. On July 31st, the press conference on "Shanghai Banking Industry Helps Promote the Construction of International Financial Center" was held on-site. The organizer provides pictures to lead the "new development" of international finance. Zhang Weizhong, President of the Shanghai Interbank Association and Chairman of Shanghai Pudong Development Bank, introduced that in supporting high-level financial openness, Shanghai Pudong Development Bank continues to promote the internationalization of the RMB, helping to enhance the acceptance of RMB financial assets, important commodities and other "Shanghai prices" in the international market. In 2023, Shanghai Pudong Development Bank will launch six "first orders" in the free trade zone bond market, providing customized one-stop comprehensive service solutions for multiple clients, including free trade zone bond investment, bond underwriting, fund custody, and settlement deposit retention, providing practical reference for the development of Shanghai's offshore RMB bond market. Shanghai Bank President Shi Hongmin stated that in the process of serving the internationalization of the RMB, Shanghai Bank has developed cross-border business. Since the beginning of this year, it has assisted more than 50 enterprises in completing cross-border RMB facilitation filing, with a transaction volume of over 10 billion yuan, and more than 200 enterprises have enjoyed cross-border RMB facilitation policies through the bank. In order to do a good job in internal and external connections and serve the two-way opening of finance, Wang Xiao, President of Bank of China Shanghai Branch, stated that Bank of China Shanghai Branch has assisted New Development Bank in issuing the largest single amount panda bond and the largest 5-year panda bond of multilateral institutions, and landed the world's first RMB Yulan bond and the first Euro Yulan bond, using practical measures to promote high-level opening up to the outside world. Tu Hong, Business Director of Bank of Communications and President of Shanghai Branch, pointed out that relying on the "Cross border Finance One Thing" special team jointly formed by the head office and branches, using two models of "credit dispatch system and syndicate center", serving the construction of three major platforms: "single window", "oil and gas international board", and "cross-border e-commerce", launching six new products such as "Pearl Bond" and "Credit Insurance Excellence", deeply participating in various reforms and innovations in the Lingang New Area, ranking first in the market in terms of free trade bond settlement volume, and successfully landing the first RMB settled oil and gas cross-border trade and the first digital RMB settled oil and gas cross-border trade. In promoting the development of the linkage between the Shanghai International Financial Center and the Science and Technology Innovation Center, Zhang Weizhong stated that Shanghai Pudong Development Bank has established one technology branch and seven technology characteristic branches in Shanghai. Build a Shanghai science and technology innovation partner ecosystem. Continuously strengthen the linkage with various levels of government, parks, and PE/VC in Shanghai, iterate and improve products such as maker loans, small giant credit loans, and technology inclusive loans, and create a distinctive "financing+intelligence+technology+investment" comprehensive financial service model. Shi Hongmin introduced that around the characteristics of the entire life cycle of science and technology innovation enterprises, Shanghai Bank matches their needs in terms of capital flow, industrial chain, etc., and explores empowering services of "financing+integrated intelligence" and "industry+technology". For startups, we have launched a patent license revenue pledge financing product, which converts intangible assets into tangible support; For growing enterprises, we have launched investment and loan linkage, employee stock ownership financing plans, etc., to connect enterprise stock and debt linkage, public-private linkage services, and have gained market recognition. Gu Jianzhong pointed out that as of the end of June 2024, the balance of technology-based enterprise loans from Shanghai Rural Commercial Bank was nearly 110 billion yuan, serving over 7500 households cumulatively. Reshaping the logic of risk assessment and risk return balance, focusing on long-term and patient capital, creating the "Xin Kinetic Energy" strategic emerging customer cultivation plan, jointly building the "Xin Ecology" with multiple parties, and accompanying the entire life cycle with "five specialized services+six dimensional empowerment"; Establish the first head office level science and technology finance division in Shanghai, cultivate a number of characteristic branches and teams, and cover the entire city's science and technology finance carrying area. The Shanghai Interbank Association leads the Shanghai banking industry to take the initiative in supporting the construction of an international financial center, compiling and releasing the first national report on the sustainable development of green finance in the Yangtze River Delta banking industry (2024), and participating in the construction of the Shanghai Green Finance Service Platform. Promote the improvement of quality and efficiency of inclusive finance, and leverage the effectiveness of the Shanghai Bank Tax Interactive Information Service Platform. In the future, the Shanghai Banking Association said that it would lead the Shanghai banking industry to focus on Chinese path to modernization, actively and steadily promote the implementation of high-quality financial development strategy, and make greater contributions to enhancing the competitiveness and influence of Shanghai International Financial Center. (New Society)
Edit：NingChangRun Responsible editor：LiaoXin
Source：China News Service Website
Special statement: if the pictures and texts reproduced or quoted on this site infringe your legitimate rights and interests, please contact this site, and this site will correct and delete them in time. For copyright issues and website cooperation, please contact through outlook new era email：lwxsd@liaowanghn.com
Economy
Recommended Reading Change it 
Home
