Shanghai Pudong Development Bank (SPD Bank) announced on Aug 20 that it has opened a new branch in the Lin-gang Special Area of the China (Shanghai) Pilot Free Trade Zone to offer innovative banking products and services to companies in the zone.

The Shanghai-based lender will provide customized financial services for the key sectors and industrial clusters that Lin-gang plans to focus on, such as international trade and global shipping.

More specifically, SPD Bank aims to provide free and convenient cross-border payments and remittance services for e-commerce and resale businesses as well as other new international trade enterprises.

It will offer comprehensive financial services for companies' clients based on their shipping ecosystem and help enterprises build cash management centers and renminbi trade financing platforms.