Shanghai FTZ's Lingang new area welcomes first foreign bank
Aerial photo taken on Oct. 24, 2019 shows a view of Lingang new area of the Shanghai free trade zone. (Xinhua/Ding Ting)
SHANGHAI, May 4 (Xinhua) -- The administrative committee of Lingang new area of the Shanghai free trade zone (FTZ) has announced that United Overseas Bank (UOB) China is expected to open in the third quarter of this year.
The landing of the first foreign bank shows that foreign investors are full of confidence in the development prospects of Lingang and China's financial market, according to the administrative committee.
UOB China said it will continue to provide one-stop financial services for Chinese and foreign enterprises with its business network strength in ASEAN, while focusing on creating cross-border financial innovation solutions with the policy advantages in Lingang. ■
Related articles
Taiwan’s foreign minister says China and Russia are supporting each other's ‘expansionism’
TAIPEI, Taiwan (AP) — Russia and China are helping each other expand their territorial reach, and de2024-05-19- Since normal travel resumed in 2023, the flow of people between Hong Kong and the Chinese mainland h2024-05-19
Voters demand crackdown on pro
Americans seek tough action against the pro-Palestine protestors who have roiled college campuses, w2024-05-19China's interbank treasury bond index opens higher Monday
BEIJING, May 6 (Xinhua) -- China's interbank treasury bond index in net price opened at 1,021.41 poi2024-05-19- A former Etihad aeroplane has been converted into a luxurious staycation holiday rental, complete wi2024-05-19
Port city Lianyungang showcases cultural appeal
A promo event for the coastal city of Lianyungang is held in Beijing on March 19, 2024. [Photo provi2024-05-19
atest comment