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Banking joint venture
By Ding Yining |
December 23, 2010, Thursday
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Print Edition
Print Edition
SHANGHAI Pudong Development Bank said it has agreed to set up a joint venture with Silicon Valley Bank in China to serve small and medium technology enterprises.
Silicon Valley Bank will pay no more than 500 million yuan (US$76 million) for a stake no more than 50 percent in the new venture.
Silicon Valley Bank is the banking unit of the California-based SVB Financial Group. The new venture is still subject to regulatory approval in China and the United States.
Silicon Valley Bank will pay no more than 500 million yuan (US$76 million) for a stake no more than 50 percent in the new venture.
Silicon Valley Bank is the banking unit of the California-based SVB Financial Group. The new venture is still subject to regulatory approval in China and the United States.
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