On January 9, the Shanghai Pudong Development Bank’s “New Chapter of Development and the Future of Asset Management” forum and the opening ceremony of Shanghai Puyin Wealth Management Co., Ltd. (hereinafter referred to as “SPDB Wealth Management”) were held in Shanghai. Zhu Zhisong, Member of the Standing Committee of the Shanghai Municipal Committee of the Communist Party of China, Secretary of the Pudong New Area Committee, Deputy Secretary-General of the Shanghai Municipal Government, Deputy Secretary of the Pudong New Area Committee, District Mayor Hang Yingwei, Director of Shanghai Local Financial Supervision Bureau, Director of Shanghai Financial Work Bureau Xie Dong, Shanghai State-owned Assets Supervision and Administration Commission Party Secretary and Director Bai Tinghui, Secretary of the Party Committee and Chairman of Shanghai Pudong Development Bank Zheng Yang, Deputy Secretary of the Party Committee, Vice Chairman, and President Pan Weidong, and Chairman of the Board of Supervisors Wang Jianping attended the ceremony to witness the approval of SPDB Wealth Management for opening. Congratulations on financial management.
The approval of SPDB Wealth Management to open is an important step in SPDB’s group layout. Zheng Yang, chairman of Shanghai Pudong Development Bank, said that as an important new member of the group, SPDB Wealth Management will be based in Shanghai, radiate across the country, optimize capital allocation, and support the development and transformation of China’s economy; relying on Shanghai’s resource endowments and international status, it will build a business with an international perspective. Influential asset management company; will practice inclusive finance, establish a richer and diversified wealth management product system, and allow more customers to enjoy economic development dividends.
New regulations lead and promote transformation
SPDB Wealth Management is a wholly-owned subsidiary of Shanghai Pudong Development Bank with a registered capital of 5 billion yuan. Based on the principle of “improving front-end business professional capabilities, stabilizing mid-Taiwan risk control operations, and intensive back-office support and guarantee capabilities”, it has set up investment research, market, and China There are 16 departments in the three back-end sections.
In terms of product creation, SPDB Wealth Management has upgraded and created a new product system on the basis of SPDB’s net worth products. The three series of “Tiantian”, “Professional Xin” and “Diversified” comprehensively cover cash management products, single asset allocation products and multiple products. Asset allocation products meet the needs of investors for multi-level wealth management, and achieve a comprehensive layout of product maturity, form, risk level, and investment strategy.
As of the end of 2021, Shanghai Pudong Development Bank’s wealth management scale has exceeded 1 trillion yuan, and the net wealth management products that meet the requirements of the new asset management regulations have exceeded 960 billion yuan, laying a solid foundation for the development of SPDB’s wealth management industry.
Strive for a solid foundation
Shanghai Pudong Development Bank is a national joint-stock commercial bank headquartered in Shanghai. Over the years, it has always been adhering to the core values of “keeping integrity and creating excellence”, actively exploring financial innovation, continuously increasing its asset scale and increasing operational strength. By the end of the third quarter of 2021, Shanghai Pudong Development Bank has total assets of 8.06 trillion yuan, ranking 18th in the “2021 Global Top 1000 Banks”. A comprehensive business structure covering multiple business formats including trusts, funds, financial leasing, overseas investment banks, rural banks, and currency brokers has been established.
Shanghai Pudong Development Bank’s asset management business has always insisted on returning to the roots of asset management, closely following the overall direction of national economic and social development and reform, helping the real economy to improve quality and efficiency; adhere to a global perspective, achieve full coverage of cross-market, domestic and foreign investment fields, and promote national finance Services are open to the outside world; adhere to service innovation, create several hundred billion-level competitive products, and continuously improve the ability to provide customers with comprehensive financial services; adhere to the integration of investment and research to achieve mutual driving of research and investment and create value.
Concentrate on the new chapter of “Pu”
As a new member of the Shanghai Pudong Development Bank Group, SPDB Wealth Management will give full play to the group’s synergistic advantages, focusing on product innovation, channel construction, customer operation, and compliance and risk control to create “full product types, full customer coverage, and full wealth management functions.” , “Strong asset target, strong management ability, and strong investment performance” market characteristics. To better meet the growing wealth management needs of the people, it also contributes to the high-quality development of Shanghai Pudong Development Bank Group.
Cao Jiangtao, secretary of the party committee and general manager of SPDB Wealth Management, said that SPDB Wealth Management will stand at a new starting point, give full play to the advantages of the group, always adhere to the overall leadership of the party, adhere to the mission of serving the country strategy, operate in compliance with regulations, accelerate transformation, and improve Core competitiveness; always adhere to the main responsibility and main business, return to the origin and original intention of “being entrusted by others, managing finances on behalf of others”, standardize the concept of own business development, take high-quality development as the main line, and deepen the implementation of financial supply-side structural reforms; adhere to Practicing the goal of inclusive finance, we provide diversified financial service solutions for all kinds of customers, and we are committed to becoming the backbone of the construction of Shanghai’s global asset management center.
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