SPDB unveils new branch in Lingang Special Area

Shanghai Pudong Development Bank announced on Tuesday that it has opened a new branch in the Lingang Special Area of the China (Shanghai) Pilot Free Trade Zone, to offer innovative banking products and services to companies in the zone.

The Shanghai-based lender will provide customized financial services for the key sectors and industrial clusters that Lingang plans to focus on, like international trade and global shipping.

More specifically, SPDB aims to provide free and convenient cross-border payments and remittance services for e-commerce and resale businesses as well as other new international trade enterprises.

It will offer comprehensive financial services for company clients based on their shipping ecosystem and help enterprises build cash management centers and yuan trade financing platforms.