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PSBC Shanghai Pilot FTZ Branch Opens for Business

Date: 2015-07-27

On June 26, 2015, China (Shanghai) Pilot Free Trade Zone Branch of Postal Savings Bank of China (PSBC Shanghai Pilot FTZ Branch) officially opened for business. This is an important measure taken by PSBC for actively gearing itself to national strategies, participating in construction of Shanghai Pilot FTZ and promoting its own reform and transformation. PSBC President Lv Jiajin, General Manager Ye Guobiao of China Financial Information Center, Deputy Director of Shanghai Pilot Free Trade Zone Administrative Committee and Deputy Secretary of the Party Leadership Group & Deputy Director General of Free Trade Zone Administration Bureau Wang Xinling, Secretary-General Zhang Jing of Shanghai Banking Association, President Jing Zongquan of PSBC Shanghai Branch, related officials of Shanghai Financial Service Office and Shanghai Free Trade Zone and representatives of some corporate customers attended the opening ceremony.

China (Shanghai) Pilot Free Trade Zone is the first official free trade zone in China and also the “test field” of the new round of reform and opening up in the country. PSBC, as a large-sized state-owned financial institution, actively answered the national call and officially launched the preparation for Shanghai Pilot FTZ Branch in the second half of 2014. After nearly one year of efforts, the Branch was officially established. Taking this as the starting point, PSBC will take Shanghai Pilot FTZ Branch as the direct window and platform for serving construction of Shanghai Pilot Free Trade Zone and make full efforts to provide customers with all-round differentiated services. By actively supporting development of enterprises in the FTZ, it will contribute to the new round of economic development in Shanghai.

It’s learnt that PSBC Shanghai Pilot FTZ Branch will continue with the exploration in innovative business, respect the requirements of PSBC on developing inclusive finance and serving the real economy and tap into the policy advantage of Shanghai FTZ to enhance innovation in capital account convertibility, RMB internationalization and investment and trade facilitation. It will perform its role as the “first mover” in system, mechanism, product and service, further enhance its strength, products, resources and management and spare no effort in building up the FTZ business brand, so as to better serve broad customers, promote Shanghai Pilot FTZ to succeed and support the efforts in developing Shanghai into a center in economy, finance, shipping and trade.