In a move representative of citywide efforts to develop Shanghai into a scientific and technological innovation center, Shanghai Pudong Development Bank (SPD Bank) issued a new plan to improve the services it offers the city's technology companies, according to an announcement made on March 13.

The plan pays greater attention to the fundraising needs of small and medium-sized enterprises and offers a wider range of solutions to financial technology-related clients.

The bank's 52 financial technology-related products were presented in the plan, with four developed for government, 33 for tech companies, eight for technology industrial parks, and seven dedicated to aiding tech talent.

Services such as cloud supervision and government fundraising linkage programs are being established to improve the government's ability to serve tech companies.

The bank divides tech companies into three different categories; early stage companies, growing companies, and mature companies. The bank has assigned specific services to each category.

For instance, whereas early stage companies are entitled to receive government-guaranteed loans, so-called growing companies can enjoy credit loans and equity-mortgaged loans, and mature stage companies are entitled to services related to cross-border mergers and acquisitions.

Additional services offered by SPD Bank include property-mortgaged quick loans and an intelligent wealth management system.

The SPD Bank has announced the initiative is an extension of its already strong efforts to promote the development of Shanghai's technology companies; by the end of 2016, the bank had already served more than 2,000 tech companies, helping them raise 20 billion yuan ($2.9 billion).

The billboard advertises one Shanghai Pudong Development Bank recent schemes that has drawn attention in the Shanghai banking scene. On March 13 the bank issued a new plan to better serve the city's technology companies. [Photo/China Daily]