The fourth meeting of the Shanghai-Hong Kong cooperation conference was held in Hong Kong on August 24, 2018. Ying Yong, Deputy Secretary of the CPC Shanghai Municipal Committee and Mayor of Shanghai, and Carrie Lam, Chief Executive of the Hong Kong Special Administrative Region attended the meeting.  At the meeting, The Bank of East Asia, Limited (“BEA”) and Shanghai Pudong Development Bank Co., Ltd. (“SPD Bank”) held a ceremony to mark the signing of their comprehensive strategic cooperation agreement.  Mr. Brian David LI Man-bun, Executive Director & Deputy Chief Executive of BEA, and Mr. Liu Xinyi, Vice Chairman and President of SPD Bank, attended and signed the comprehensive strategic cooperation agreement.

Mr. Brian David LI Man-bun, Executive Director & Deputy Chief Executive of BEA, said “As early as September 2017, The Bank of East Asia (China) Co., Ltd. (“BEA China”), a wholly-owned, locally-incorporated banking subsidiary of BEA, signed “The Memorandum of Comprehensive Business Cooperation” with SPD Bank.  The signing of the comprehensive strategic cooperation agreement will deepen the cooperation between BEA and SPD Bank, give full play to their respective advantages, allow them to jointly provide better financial services for enterprises in Shanghai and Hong Kong, and create a new situation of mutual benefit and win-win results.”

Both BEA and SPD Bank have actively responded to the call of national policies, complied with newly developed regulations in Shanghai and Hong Kong, and focused on initiatives such as the “Belt and Road”, development of Shanghai as an innovation in science and technology center, and the development of the China (Shanghai) Pilot Free Trade Zone. In the future, the two sides will cooperate in strategic planning, product innovation, customer marketing, channel sharing and other aspects.

Incorporated in Hong Kong in 1918, BEA has a century-long history and is listed on The Stock Exchange of Hong Kong. BEA China, which is BEA’s wholly owned, locally-incorporated banking subsidiary, operates one of the most extensive branch networks among foreign banks in China.  SPD Bank, which is headquartered in Shanghai, has been operating since 1993 and is a national joint-stock bank. Over the past 25 years, it has developed into a financial group providing comprehensive financial services; it is listed on the Stock Exchange of Shanghai.