DBS China Launches Free Trade Account Service in the Shanghai Free Trade Zone | 繁體

Hong Kong, 28 May 2015 - DBS Bank (China) Limited ("DBS China") today announced the official launch of its Free Trade Account (“FTA”) service. Eligible customers from the Shanghai Free Trade Zone (“FTZ”) as well as overseas will be able to leverage this service and take advantage of the pilot schemes in the FTZ.

DBS has reached an offshore RMB loan agreement with a major MNC, in which DBS will bring in lower-cost offshore RMB funds for the client through its FTA. The introduction of the FTA service will widen the scope of capital sources that customers can tap into for financing facilities.

Neil Ge, CEO of DBS China said, “We are glad to have met all the regulatory requirements in launching the FTA service on time for customers. As a bank born and bred in Asia, DBS has a wealth of resources and experience in offshore markets, such as Singapore and Hong Kong. The expansion of the Shanghai FTZ will bring more business opportunities to DBS. In line with ongoing reforms in China, we will continue to explore and innovate within the FTZ to provide advanced financial solutions to our customers.”

As the first foreign bank to commence business in the FTZ, DBS has always been at the forefront in supporting the pilot programmes through trade financing, cross-border RMB capital pooling and offshore RMB lending, etc. in the FTZ. Furthermore, DBS China has been recognised by esteemed regional and local media, governments and industry associations, having been named “2014 Top 10 Successful ASEAN Enterprises Entering China” by the China - ASEAN Business Council, and “China Star 2014: Best Corporate Bank (foreign)” and “China Star 2014: Best Trade Financing Bank (foreign)” by Global Finance.

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About DBS
DBS - Living, Breathing Asia
DBS is a leading financial services group in Asia, with over 280 branches across 17 markets. Headquartered and listed in Singapore, DBS has a growing presence in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's capital position, as well as "AA-" and "Aa1" credit ratings, is among the highest in Asia-Pacific. DBS has been recognised for its leadership in the region, having been named “Asia’s Best Bank” by The Banker, a member of the Financial Times group, and “Best Bank in Asia-Pacific” by Global Finance. The bank has also been named “Safest Bank in Asia” by Global Finance for six consecutive years from 2009 to 2014.

DBS provides a full range of services in consumer, SME and corporate banking activities across Asia. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets. These market insights and regional connectivity have helped to drive the bank’s growth as it sets out to be the Asian bank of choice. DBS is committed to building lasting relationships with customers, and positively impacting communities through supporting social enterprises, as it banks the Asian way. It has also established a SGD 50 million foundation to strengthen its corporate social responsibility efforts in Singapore and across Asia.

With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. The bank acknowledges the passion, commitment and can-do spirit in all of our 21,000 staff, representing over 40 nationalities. For more information, please visit www.dbs.com.

About DBS China
DBS Bank (China) Limited (DBS China) is a subsidiary of DBS, one of Asia’s leading financial services groups. Formerly the Development Bank of Singapore, DBS opened its first representative office in Beijing in 1993 and was among the first group of foreign banks and the first Singapore bank to incorporate in China in May 2007. Since then, DBS China has rapidly expanded its franchise across the country, currently operating out of 11 branches and 23 sub-branches and has more than doubled its staff strength to over 2,300. DBS China’s business focuses are institutional banking, global transaction services, treasury and markets, SME banking as well as consumer banking targeting the affluent segments.

DBS China is among the first batch of financial institutions and one of the first two foreign banks, to obtain approval for setting up an outlet in the FTZ on September 29th, 2013; and is also among the first batch of foreign banks to receive operational approval for the Shanghai FTZ outlet on December 31st, 2013. On January 7th, 2014, DBS China’s Shanghai Pilot Free Trade Zone Sub-branch became the first foreign bank to open for business.

China is DBS’ key priority market. The strengths of our franchise in China have been recognized by esteemed regional and local media, government bodies and industry associations such as Global Finance (Stars of China: Best Small Business Lending & Best Retail Bank, 2013; Best Treasury and Cash Management among foreign banks, 2011-2012) and 21st Century Business Herald (Best Wealth Management Service, 2011-2012).

For more information, please visit www.dbs.com.cn.