China News Service, Shanghai, May 10 (Reporter Jiang Yu) According to Hang Seng Bank (China) Co., Ltd. disclosed on the 10th, it and Huafu Fashion Co., Ltd. reached a 5-year link to environmental, social responsibility and governance (ESG) terms , making it the first foreign bank to enter into such a transaction with a Greater Bay Area company.
The reporter learned from DBS China on the same day that DBS Bank (Hong Kong) Co., Ltd. and Shenzhen Rural Commercial Bank Co., Ltd. announced that they will cooperate to provide cross-border wealth management "Southbound" services for eligible investors in the Greater Bay Area.
Huafu Fashion is a well-known enterprise in China's color spinning industry. It began to globalize in the early years, and thus accumulated a large currency mismatch exposure.
In this regard, Hang Seng China has tailored a comprehensive management plan for currency swap rates and exchange rates.
In order to encourage Huafu Fashion’s investment in ESG and sustainable development, the plan designed this time especially embeds ESG clauses to link the company’s performance in ESG.
Zhu Jin, Vice President of Hang Seng China, said: "Hang Seng China will continue to innovate and expand diversified financial solutions, and while providing financial support to enterprises, it will advocate and actively implement the concept of ESG green development."
DBS Bank (Hong Kong) and Shenzhen Rural Commercial Bank will combine the advantages of both parties to jointly provide a wide range of investment products, solutions and digital banking services to eligible Greater Bay Area investors.
Pang Huayi, Chief Executive Officer of DBS Bank (Hong Kong) Limited, said: "This cooperation with Shenzhen Rural Commercial Bank strengthens DBS Bank's cross-border Wealth Management Connect 'multi-partner strategy', which will bring benefits to investors in the Greater Bay Area. An international wealth management experience.”
Pang Huayi said that in the future, DBS Bank will continue to look for suitable cooperation opportunities, enhance its influence in the Greater Bay Area, and meet the growing financial needs of customers in the region.
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