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September 20, 2017

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SCSB establishes leasing firm in Shanghai

The Shanghai Commercial and Savings Bank (SCSB), which is committed to serving Taiwan businesspeople in the Greater China region, has set up a leasing company in Pudong District of Shanghai to offer a variety of innovative and new services.

SCSB, which operates enterprise financing as its core business and has developed expertise in foreign exchange and cross-strait international finances, is known for its stable management style and effective risk management. Each year, it gets approval to set up the greatest number of branches in the local banking industry.

SCSB's investment in China's leasing market will combine renminbi and New Taiwan dollar lending operations to raise the bank's image among Taiwan businesspeople and provide the most comprehensive and all-around services for them. It is SCSB's hope that by setting up this leasing firm it can widen its reach to Taiwan businesspeople and offer loans denominated in different currencies to minimize customers' risk. It will also capitalize on China's 12th Five-Year National Development Plan to service customers through its "Shanghai-Hong Kong-Taiwan" collaboration platform.

The leasing company will first focus on the Yangtzu River Delta region and then expand its operations outward to the rest of China.

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