DBS Bank (China) is the only foreign bank that is among the first batch of financial institutions to obtain approval to set up an outlet in the Free Trade Zone (FTZ) on 29 September 2013, to receive operational approval on 31 December 2013, and to commence business on 7 January 2014 and to pass the People’s Bank of China’s inspection and obtain FTU license on 21 May 2015.
In addition, DBS Bank (China) Ltd. Shanghai Pilot Free Trade Zone ("FTZ") Sub-Branch has also successfully pioneered the following transactions in the FTZ:
29 April 2014: First FTZ RMB cross border borrowing transaction of RMB18 million
31 March 2014: First USD import reimbursement financing deal
27 January 2014: First trade financing deal
14 April 2014: First FTZ cross border cash pooling
30 June 2015: First Cross border borrowing under FTE account
To date, DBS Bank (China) Ltd. Shanghai Pilot FTZ Sub-Branch has provided the following products and services to our clients:
Account opening (includes all kinds of free trade accounts FTA)
Provide LC financing business
Handle interbank reimbursement financing
Assist with RMB cross border borrowing transactions
Assist with RMB cross border lending transactions
As a leading bank in Asia, DBS is committed to leverage our vast Asian network and experiences in Singapore, Hong Kong and other markets across the region to help customers understand and seize growth opportunities from the development of the FTZ, RMB globalisation and interest rate liberalisation.