Native name | 上海浦东发展银行 |
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Company type | Public company; State-owned enterprise |
SSE: 600000 | |
Industry | Banking, finance |
Founded | 9 January 1993 |
Headquarters | Shanghai, China |
Key people | Gao Guofu (Chairman) Zhu Yuchen (President) |
Products | Financial services |
Website | www |
Shanghai Pudong Development Bank | |||||||
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Chinese | 上海浦东发展银行 | ||||||
Hanyu Pinyin | Shànghǎi Pǔdōng Fāzhǎn Yínháng | ||||||
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Shanghai Pudong Development Bank,branded as Pufa Bank in Chinese and SPD Bank in English,is a city-owned joint-stock commercial bank. It was established in 1993 and owned by the Shanghai Municipal Government.
Shanghai Pudong Development Bank issued a 400 million A-share offer on 23 September 1993,on the Shanghai Stock Exchange. It became the first shareholding commercial bank to list with both Central Bank and China Securities Regulatory Commission’s approval since the enactment of "Commercial Bank Law" and "Securities Law". The registered capital reached RMB 2.41 billion. 320 million shares of the issue were listed on the Shanghai Stock Exchange on 10 November 1999 (stock code 600000). [1]
Shanghai Pudong Development Bank partnered with Silicon Valley Bank in 2012 to create a separate Shanghai-based bank to lend to local technology startups. [2] It was the first Sino-American joint venture bank. [3] In 2024,SPD Silicon Valley Bank has been renamed into Shanghai Innovation Bank,100% owned by SPD Bank. [4]
In 2019,it was reported that the bank was under investigation for alleged money laundering and sanctions violations involving the North Korean regime. [5] [6] The bank allegedly moved money for the Foreign Trade Bank of the Democratic People's Republic of Korea that was used to finance the country's nuclear and ballistic missile programs. [7]
In April 2017,news broke that the Chengdu branch of Shanghai Pudong Development Bank (SPD Bank) was involved in a massive bad debt scandal amounting to hundreds of billions of yuan. This money was allegedly manipulated by four individuals through over 2,000 shell companies. [8] Although SPD Bank initially denied any wrongdoing,it later admitted to irregularities at the branch. The Chengdu branch manager subsequently retired and was replaced by the manager of the Kunming branch. [9]
An advertising campaign by SPD Bank sparked public outrage for exploiting the image of firefighters who died in the Liangshan forest fire to promote a credit card debt exemption service. [10] Specifically,on the evening of 2 April 2019,SPD Bank's credit card center posted a poster stating "Exemption of outstanding credit card debts of martyrs in the Liangshan fire." [11] [12] This act was strongly condemned for being disrespectful to the sacrifice of the firefighters. By the afternoon of 3 April,SPD Bank had to publicly apologize and request the removal of the image. [13]
Shanghai Hongqiao International Airport is one of two international airports of Shanghai,the largest city by population in China,and a significant airline hub of the country. Hongqiao Airport mainly serves domestic and regional flights,although the airport also serves selected international flights. The airport is located near the town of Hongqiao in the outskirts of Changning and Minhang districts,13 kilometres (8.1 mi) west of downtown,and is closer to the city center than the area's primary international airport,Shanghai–Pudong.
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Pudong is a district of Shanghai located east of the Huangpu,the river which flows through central Shanghai. The name Pudong was originally applied to the Huangpu's east bank,directly across from the west bank or Puxi,the historic city center. It now refers to the broader Pudong New Area,a state-level new area which extends all the way to the East China Sea.
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Shanghai Shentong Metro Group Co.,Ltd. known as Shentong Metro Group is the operator of Shanghai Metro and Shanghai Maglev Train,as well as the parent company of the listed company Shanghai Shentong Metro Co.,Ltd. It is currently responsible for the operation of Shanghai Metro. This includes investment,financing and operation management,and owns most of the assets of Shanghai Metro. The name is derived from Shen is the alternative name of Shanghai,while Tong literally means transportation.
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Xichang Station is a railway station on the Chengdu–Kunming line,located at No. 6 Yingbin Road,Yuanjiashan Village,Xiaomiao Township,Xichang City,Liangshan Yi Autonomous Prefecture,Sichuan Province,built in 1970,currently a third-class station under the jurisdiction of the Xichang Depot of Chengdu Railway Bureau,with a postal code of 615000. Current passenger transportation:handling passenger boarding and landing;Baggage and parcels are checked in,and freight business is not handled.
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