Shanghai Pudong Development Bank

Fosun's Ratings Affirmed by S&P, Market Bullish on Chinese Private Enterprises

Retrieved on: 
Wednesday, May 31, 2023
HSBC, China Construction Bank, Exim Bank, Bank of Communications, S&P Global, Industrial and Commercial Bank of China, Bank of China, Daiwa Securities Group, Face, Hang Seng Bank, China Minsheng Bank, Club Med, Bank of East Asia, Communication, Agricultural Bank, Commercial bank, Shanghai Pudong Development Bank, Commerzbank, Deleveraging, Sale, Goldman Sachs, Agricultural Bank of China, Standard Chartered, Bank, Relaxation, Industrial, S&P Global Ratings, News, Risk management, Renewable energy, Security (finance), Fosun International

This move implies that with continuous efforts to optimize capital and asset base, Fosun's short-term liquidity pressure has been greatly eased and its ratings have been affirmed by international agency S&P Global Ratings.

Key Points: 
  • This move implies that with continuous efforts to optimize capital and asset base, Fosun's short-term liquidity pressure has been greatly eased and its ratings have been affirmed by international agency S&P Global Ratings.
  • Analysts believe that coupled with the recent increase in foreign investment in China and the continuous net purchase of domestic securities, S&P Global Ratings' move also revealed that the international capital market is bullish on Chinese private enterprises considering the confidence boost in the outlook of China's economic recovery.
  • At the same time, sound banking relationships enabled sufficient sources of liquidity amid turbulence in the bond market.
  • In the report issued on 30 May, S&P Global Ratings fully affirmed Fosun's sound relationships with domestic and foreign banks.

Future FinTech Appoints Peng Lei as Chief Operating Officer

Retrieved on: 
Wednesday, August 2, 2023
Bachelor, Martin J. Whitman School of Management, Doctor of Philosophy, Shanghai Pudong Development Bank, Fintech, Xi'an Jiaotong University, International finance, School, Master, Security (finance), Management, Economics

NEW YORK, Aug. 2, 2023 /PRNewswire/ -- Future Fintech Group Inc. (NASDAQ: FTFT ), (hereinafter referred to as "Future FinTech", "FTFT" or the "Company", a comprehensive financial and digital technology service provider, announced today that on July 28, 2023, it appointed Mr. Peng Lei as the Chief Operating Officer ("COO") of the Company.

Key Points: 
  • NEW YORK, Aug. 2, 2023 /PRNewswire/ -- Future Fintech Group Inc. (NASDAQ: FTFT ), (hereinafter referred to as "Future FinTech", "FTFT" or the "Company", a comprehensive financial and digital technology service provider, announced today that on July 28, 2023, it appointed Mr. Peng Lei as the Chief Operating Officer ("COO") of the Company.
  • Since July 2022, Mr. Lei served as the general manager of Future Commercial Management Co., Ltd., a wholly owned subsidiary of the Company.
  • I am pleased that Mr. Lei has been appointed as the Company's Chief Operating Officer and am confident that Mr. Lei will undertake his new responsibilities with his full commitment, and help the Company to further execute upon its mission."
  • As FTFT's Chief Operating Officer, my mission is to implement innovative technology and provide our customers with new solutions via a wide range of financial applications.

Baidu AI Cloud Leads China Market for Fourth Year in a Row with 69.7% Growth in 2022, Report Says

Retrieved on: 
Wednesday, July 26, 2023
Cloud, IDC, Natural language processing, BIDU, Geely, Baidu, State Grid Corporation of China, Shanghai Pudong Development Bank, Research, OCR, HKEX, QPS, Artificial intelligence, Yoy, Growth, Taikang Life Insurance, AI, Ecosystem, ERNIE, Medical device, Cryptocurrency

The report foresees the rapid development of large models and generative AI in the next 3-5 years, positioning Baidu AI Cloud for promising opportunities to further bolster its growth.

Key Points: 
  • The report foresees the rapid development of large models and generative AI in the next 3-5 years, positioning Baidu AI Cloud for promising opportunities to further bolster its growth.
  • IDC observed China's AI public cloud service market has experienced remarkable 80.6% year-on-year growth, reaching a market size of 7.973 billion yuan by the end of 2022.
  • Baidu AI Cloud has consistently held the top market position in IDC's biannual rankings since 2019, now marking the eighth consecutive time it has led the ranking.
  • Analyzing the achievements of Baidu AI Cloud, the IDC report attributes its success to the comprehensive breadth of the company's AI solution, which includes self-developed chips, framework, and a wide range of AI capabilities.

Positive Revision! Fosun's Ratings Affirmed by S&P

Retrieved on: 
Wednesday, May 31, 2023
HSBC, China Construction Bank, Exim Bank, Bank of Communications, S&P Global, Industrial and Commercial Bank of China, Bank of China, Hang Seng Bank, China Minsheng Bank, Club Med, Bank of East Asia, Communication, Agricultural Bank, Commercial bank, Shanghai Pudong Development Bank, Commerzbank, Sale, HKEX, Agricultural Bank of China, FTG, Standard Chartered, Bank, Relaxation, Industrial, S&P Global Ratings, Security (finance), Risk management, Fosun International

HONG KONG, May 31, 2023 /PRNewswire/ -- International rating agency S&P Global Ratings issued a report, raising Fosun International Limited's (HKEX stock code: 00656, "Fosun International") rating outlook to stable.

Key Points: 
  • At the same time, sound banking relationships enabled sufficient sources of liquidity amid turbulence in the bond market.
  • The significant asset disposals and stable credit support from banks enabled Fosun's successful repayment of all concentrated maturing bonds in the past three quarters.
  • As of the end of March 2023, Fosun successfully brought down holding-company debt by about RMB24.0 billion to RMB93.0 billion.
  • S&P Global Ratings affirmed its long-term issuer credit rating and guaranteed senior unsecured notes rating on Fosun, raising Fosun's rating outlook from negative to stable.

Positive Revision! Fosun's Ratings Affirmed by S&P Global Ratings

Retrieved on: 
Tuesday, May 30, 2023
HSBC, China Construction Bank, Exim Bank, Bank of Communications, S&P Global, Industrial and Commercial Bank of China, Bank of China, Hang Seng Bank, China Minsheng Bank, Club Med, Bank of East Asia, Communication, Agricultural Bank, Commercial bank, Shanghai Pudong Development Bank, Commerzbank, Sale, HKEX, Agricultural Bank of China, FTG, Standard Chartered, Bank, Relaxation, Industrial, S&P Global Ratings, Security (finance), Risk management, Fosun International

HONG KONG, May 30, 2023 /PRNewswire/ -- International rating agency S&P Global Ratings issued a report, raising Fosun International Limited's (HKEX stock code: 00656, "Fosun International") rating outlook to stable.

Key Points: 
  • The significant asset disposals and stable credit support from banks enabled Fosun's successful repayment of all concentrated maturing bonds in the past three quarters.
  • As of the end of March 2023, Fosun successfully brought down holding-company debt by about RMB24.0 billion to RMB93.0 billion.
  • S&P Global Ratings affirmed its long-term issuer credit rating and guaranteed senior unsecured notes rating on Fosun, raising Fosun's rating outlook from negative to stable.
  • Amid a challenging global financial backdrop, Fosun's credit indicators assigned by international institutions such as S&P Global Ratings still hold firm thanks to its steadfast implementation of the strategy of "streamlining the organization".

Fosun's Strategy of "Streamlining the Organization" Begins to Bear Fruit and Offshore Syndicated Loan are Launched

Retrieved on: 
Friday, May 12, 2023
HSBC, China Construction Bank, Exim Bank, Happiness, Bank of Communications, Optimism, Industrial and Commercial Bank of China, Fosun Pharma, Bank of China, Daiwa Securities Group, Hang Seng Bank, China Minsheng Bank, Club Med, Bank of East Asia, Communication, Agricultural Bank, Health, Commercial bank, Shanghai Pudong Development Bank, Commerzbank, Sale, Goldman Sachs, US, Euro, Agricultural Bank of China, FTG, Standard Chartered, Bank, Overweight, Relaxation, Guotai Junan Securities, RMB, Security (finance), Fosun International

The offshore syndicated loan was jointly initiated by seven banks including Bank of China, Bank of East Asia, Commerzbank, Hang Seng Bank, HSBC, Natixis Bank, and Standard Chartered Bank as lead bookrunners.

Key Points: 
  • The offshore syndicated loan was jointly initiated by seven banks including Bank of China, Bank of East Asia, Commerzbank, Hang Seng Bank, HSBC, Natixis Bank, and Standard Chartered Bank as lead bookrunners.
  • Since the formation of the syndicate, more than 10 banks have joined and banks may join through the "greenshoe option" in the next three months.
  • In January this year, Fosun's domestic entity obtained a syndicated loan of RMB12 billion.
  • Meanwhile, in the first quarter of 2023, Fosun High Technology successfully redeemed RMB5.93 billion bond in the domestic open market.

Regional Coordination and Public Welfare Integrate Together to Write New Chapter of CPIC 2022 Sustainable Development

Retrieved on: 
Friday, April 28, 2023
Social responsibility, Volunteering, Insurance, Organic, SPD, Face, Sustainability reporting, Shanghai Mental Health Center, Public, Policy, Deficit spending, CPIC, ZTE, Carbon, Cognitive disorder, RMB, VR, Spectrum, Shanghai Pudong Development Bank, Development, Student, China Electronics Corporation, Investment, Yangtze, Motivation, Growth, ESG, Bank, Shanghai Children's Hospital, Department of Neurology, Xuanwu hospital, Bank of Shanghai, CEC, Guotai Junan Securities, Memory, Safety, Disease, Renewable energy, Management, Guangdong–Hong Kong–Macao Greater Bay Area

In 2022, CPIC took the initiative to carry out the important regional development strategies of the county by developing sound regional development systems and building new poles of growth in key regions.

Key Points: 
  • In 2022, CPIC took the initiative to carry out the important regional development strategies of the county by developing sound regional development systems and building new poles of growth in key regions.
  • For public welfare, CPIC donated generously to charities, thus creating a rich array of charitable brands, including CPIC Green, CPIC Blue, and CPIC Red.
  • In 2021, CPIC Blue Foundation initiated a large-scale, three-year public welfare project with the theme of "protecting the memory of us all".
  • CPIC has made outstanding contributions to China's public welfare by practicing its corporate social responsibility through practical actions.

CPIC Successfully Holds the ESG Investment Forum of GBA to Jointly Create a New Situation for the Development of the Bay Area

Retrieved on: 
Monday, February 27, 2023
Tianhe, Speech, Carbon, Road, State-owned Assets Supervision and Administration Commission of the State Council, Bank of Shanghai, ESG, Insurance, Shanghai Industrial Holdings, CICC, CPIC, Bank, Philosophy, Guangdong–Hong Kong–Macao Greater Bay Area, Shanghai Pudong Development Bank, Haitong Securities, Party, Cryptocurrency, Warehouse, Renewable energy, San Francisco Bay Area

At the forum, all guests jointly witnessed the official opening of the headquarters building of CPIC in the Greater Bay Area.

Key Points: 
  • At the forum, all guests jointly witnessed the official opening of the headquarters building of CPIC in the Greater Bay Area.
  • Locating here, the Group aims to actively respond to the national strategy and better serve the real economic and social development of the Bay Area.
  • Kong Qingwei, the Chairman of CPIC said, "The Greater Bay Area is the main battlefield for the regional development of CPIC.
  • The three major strategies have been implemented in the Bay Area market successively, creating a new situation for the Group's development in the Bay Area.

J.P. Morgan Asset Management Receives Regulatory Approval for 100% Ownership of China Joint Venture

Retrieved on: 
Friday, January 20, 2023
USD, Shanghai Pudong Development Bank, Trust, JPMorgan Chase, Shanghai Tower, J. P. Morgan, Growth, China Securities Regulatory Commission, CSRC, AM, Lujiazui, Acquisition, Asset management, Cryptocurrency, Security (finance)

NEW YORK, Jan. 20, 2023 /PRNewswire/ -- J.P. Morgan Asset Management (JPMAM) announced significant steps in advancing its long-standing commitment to expanding in China.

Key Points: 
  • NEW YORK, Jan. 20, 2023 /PRNewswire/ -- J.P. Morgan Asset Management (JPMAM) announced significant steps in advancing its long-standing commitment to expanding in China.
  • JPMAM has received regulatory approval from the China Securities Regulatory Commission (CSRC) to complete its acquisition of China International Fund Management Co., Ltd. (CIFM).
  • JPMAM's Asset Management Wholly Foreign-Owned Enterprise (AM WFOE) will be integrated into JPMAM China, reflecting the firm's consolidated onshore operations.
  • CIFM Chief Executive Officer Eddy Wong will become Chief Executive Officer, J.P. Morgan Asset Management China, reporting to Dan Watkins, Asia Pacific Chief Executive Officer, J.P. Morgan Asset Management.

Fosun Receives RMB12 Billion Syndicated Loan from 8 Banks to Jointly Promote Development of the Private Economy

Retrieved on: 
Wednesday, January 18, 2023
National Congress, The Bund Finance Center, Bank of China, National Congress of the Chinese Communist Party, Bank, Commerce, Agricultural Bank, Central Economic Work Conference, Trust, Person, Industrial and Commercial Bank of China, All-China Federation of Industry and Commerce, Virtual CFO, CFO, Government, HKEX, Commercial bank, Communication, Senior, China Minsheng Bank, Exim Bank, Happiness, Public sector, Conference, China Construction Bank, Bank of Communications, Shanghai Pudong Development Bank, Agricultural Bank of China, Communist party, Politics, Management, Retail, Fosun International, Health

As a representative enterprise of China's private sector rooted in Shanghai, Fosun hopes to take this signing as an opportunity for government, banks and enterprises to jointly promote development of the private economy.

Key Points: 
  • As a representative enterprise of China's private sector rooted in Shanghai, Fosun hopes to take this signing as an opportunity for government, banks and enterprises to jointly promote development of the private economy.
  • Guo Guangchang expressed his gratitude to the eight banks for their long-term trust and support to Fosun.
  • He said that this signing has further deepened the cooperation between Fosun and banks, broadened financing channels, and consolidated liquidity support for business development.
  • Founded in 2005, Fosun High Technology is the domestic operating entity of Fosun International Limited ("Fosun International", HKEX: 00656) and is mainly responsible for Fosun International's domestic industry operations.