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SPDB helps to boost the local economy in Northeastern China
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The blueprint of the Songbei District on the north riverside of Songhua River, Harbin, Heilongjiang Province had attracted much attention of investors with its aim to establish another Pudong-type new development zone. However, the general manager of the development zone company, Mr. Qu is not so optimistic, even though the company had won the bid for the municipal infrastructure project of the new development zone, many of the loans promised by several banks were not yet settled. To his surprise, a call from SPDB Harbin Branch in Nov. had lead to the successful loan of RMB100 million.
"The bank contacted us and provided the facility so fast. It is really out of our expectation. SPDB's service standards and efficiency were really impressive." Mr. Qu praised the newly established SPDB Harbin Branch. Though the branch was officially open in August, bank management had started market research last year. General Manager of the branch Mr. Jiang told reporters that they had done much study at the head office and were deeply impressed by the high efficiency of the head office staff and that also created a challenge for them. "Upon returning to Harbin, we worked very hard and managed to identify 6 projects and provided loans directly from the head office, and achieved satisfactory results", said he.
Futai Industrial Company is a newly established Sino-American joint venture manufacturing electric engines, and it was short of working capital as most of the fund was injected into production. The company asked the bank for help and the banks' staff went to the company the next day to investigate the company's financial position and arranged a loan facility of RMB 20 million and a credit line of RMB 10 million for commercial bills within 5 days. The high efficiency of work was quite unexpected by the company, and the general manager, Mr. Yang told the reporter that many of the other banks were unwilling to provide loan to newly established private companies like theirs. They were greatly impressed by SPDB's efficiency.
After the officially opening, the branch's total deposits reached RMB 1.4 billion, and outstanding loans, RMB 1 billion, which is quite a miracle in the banking circle in northeast of China. The fast development of the bank is praised by the local people as a typical example of "Shanghai speed". As put by the deputy general manager of the branch, the achievement was mainly due to the golden opportunity of the development of the northeast region and the experience of Shanghai.
On Nov. 5th, 2003, the state council issued the plan to revitalize the industrial base of northeast region, which demonstrates the central government's determination to develop the region. Meanwhile, many of the shanghai-based enterprises start to pay attention to this region. As a listed bank, SPDB had always regarded the expansion of network into the northeast part of the country as a priority for its network expansion. As Ms. Liu Lijun, general manager of Network Development Department of the bank put it, "we are fully confident of the future of our branch in Harbin, since the central government had a strategic plan of this region, and both the local government and the Shanghai government strongly encouraged us to extend our business here, and most important, there is huge potential in the development of the northeast region of the country."(the report was published on the front page of Wenhui Daily on Nov.9th, 2004)
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