Shanghai Pudong Development Bank May Take Over US Silicon Valley Bank’s JV in China
According to reports, according to the South China Morning Post, citing people familiar with the matter, the joint venture of the United States Silicon Valley Bank in China, SPDB, may be taken over by Shanghai Pudong Development Bank (SPDB). Shanghai Pudong Development Bank may buy out its 50% equity, which is the “first choice” in a series of options. Another option is to allow another foreign investor to acquire SPD Silicon Valley Bank. Chinese regulators will soon find a solution for the joint venture.
People familiar with the matter: Shanghai Pudong Development Bank will purchase 50% equity of SPD Silicon Valley Bank
Analysis based on this information:
The South China Morning Post recently reported that Shanghai Pudong Development Bank (SPDB) may take over the joint venture of the United States Silicon Valley Bank (SVB) in China. The joint venture, known as SPD Silicon Valley Bank, was established in 2012 with both banks holding 50% equity. According to sources familiar with the matter, SPDB is considering buying out SVB’s equity stake, which appears to be the preferred option. Another option would be to bring in another foreign investor to take over SVB’s stake in the joint venture.
SPD Silicon Valley Bank is a major player in China’s technology industry, providing banking and financial services to tech startups and SMEs. However, tensions between China and the US have put the joint venture in a difficult position. The trade war has made it challenging for foreign banks to operate in China, and many are now looking to exit the market. SVB’s decision to exit the joint venture is likely driven by the escalating tensions between the two countries, and the uncertainty surrounding future regulations and policies.
The move by SPDB to take over the joint venture reflects its ambitions to become a major player in China’s tech industry. SPDB has been actively investing in the industry, and acquiring SVB’s stake in the joint venture will give it a stronger foothold in the market. At the same time, the move by SPDB illustrates China’s determination to develop its tech industry despite the ongoing tensions with the US.
The Chinese regulators are expected to soon find a solution for the joint venture. Commenting on the report, a spokesperson for SPDB said that the bank had not received any official notification from the regulators regarding the joint venture. However, the spokesperson confirmed that the bank is open to considering different options for the future of SPD Silicon Valley Bank.
In conclusion, the news of SPDB potentially taking over SVB’s stake in the joint venture reflects the growing ambitions of Chinese banks to become major players in the tech industry. The move may also signal a shift in China’s strategy for the tech industry amidst the ongoing trade tensions with the US. The Chinese regulators’ decision on the matter will be closely watched by industry players and investors alike.
This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/7541/
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Recommended articles
-
#1inch Network’s Massive Transaction Volume on Arbitrum Network
According to reports, 1inch Network tweeted that its total transaction volume on the Arbitrum network exceeded $5 billion.
1 inch Network\’s total transaction volume on the Arbitrum -
The Growing Resilience of APE Activity During Economic Contractions
On April 7th, blockchain research company Messari released a report stating that in the face of economic contraction, APE activity remains resilient. Indicators such as token circu
-
Guiding the Development of Technology Industry with Credibility is the Way Forward for Virtual People
It is reported that according to the official account of the Chinese Academy of Information and Communications, facing the market trend of accelerated development and the accompanying risks and challenges, guiding the development of the technology industry with the principle of credibility has become the only way to promote the safe, controllable, sustainable and high-quality development of virtual people. Relying on the Virtual Reality and Meta Universe Industry Alliance (XRMA), led by the China Academy of Information and Communication, the chief editor of Shangtang Science and Technology, OPPO, Baidu, North China University of Technology, 263, VIVO, Virtual Moving Point, You-chain Times, and Soul APP, as the first batch of participants, jointly launched the development of the standard of “Technical Requirements for Credible Virtual Anthropomorphic Generation Content Management System”, which has passed the project approval review within the XRMA Alliance. (Securities Times) The development of the standard “Technical Requirements for Trusted Virtual Human Generated Content Management System” of the Virtual Reality…
-
Ripple has purchased XRP worth nearly $11 billion since being sued by the US SEC
According to reports, data shows that Ripple has purchased nearly $11 billion worth of XRP since being sued by the US Securities and Exchange Commission (SEC). According to the com
-
Coin On Responds to CFTC Lawsuit: Commitment to Cooperation and User Protection
On March 28th, a spokesman for Coin On responded to the lawsuit filed by CFTC. Coin On stated that Coin On had cooperated with CFTC for more than two years, so its indictment was u
-
What is the purpose of counterfeit currency (is counterfeit currency legal)
What are the uses of counterfeit coins? According to Cointelgraph, according to statistics from Coinmarketcap.com, Bitcoin has increased by 18.5% in the past 24 hours. What are the uses of counterfeit coins? According to the data of Coinmarketcap, a Cryptocurrency data website, from January to June 10, 2019, more than 52000 digital assets were mined in the world, most of which were mined based on the blockchain network; A considerable portion of them are decentralized applications (DApps). In addition, in addition to the price drop, there are also many other types of virtual tokens on the market Is counterfeit currency legalAccording to an article published in Securities Daily, according to relevant laws and regulations in China, counterfeit currency listed in Article 17 of the Securities Law must have characteristics equivalent to currency in order to be recognized as valuable.. However, currently, due to the significant uncertainty in Bitcoin and digital asset trading, regulatory authorities have restricted or restricted the trading…
-
What is the use of ICO tokens (what does API tokens mean)
What is the use of an ICO token Currently, most projects are based on blockchain technology to issue tokens. However, based on the concept and process of ICO, this form is not suitable for trading and circulation in traditional securities markets, so ICO tokens also have great application space (such as exchanges). Because ICO is not a simple and legally effective investment tool like traditional stocks or bonds, and the immutability of blockchain technology ensures its security and transparency, it is easily attacked by hackers, and once hackers steal funds, they will return the money to investors But in reality, without ICO tokens, ICO is a digital currency similar to equity or debt, which can be used to pay financing costs, hedge risks, and price fluctuations of other goods and services in other financial markets In addition, according to the introduction of ICO, ICO allows startups to raise a certain amount of tokens for sale through ICO. For first-time participants,…
-
What does steemit mean (What does steert mean in Chinese)?
What does steemit mean? Recently, some media articles claimed, \”We all know tha
-
The Rise of Large Bitcoin Transactions in March 2021
On April 1st, Santiment, a cryptographic analysis company, said that the five largest Bitcoin transactions so far this year all occurred in March, and the largest transaction trans
-
Title:MicroStrategy clarifies its financial relationship with Silvergate Capital amidst market worries
It is reported that MicroStrategy (MSTR), a commercial software company, said on Thursday that it had no assets under the custody of Silvergate Capital (SI) an…
-
The Digital Euro: What It Is and What We Know About Its Implementation
According to reports, the European Central Bank has stated that the digital euro can be provided through existing banking and euro system applications, and may initially be provide
-
What is Bitcoin Copy Theft (Bitcoin Theft)?
What is Bitcoin Copy Theft? Why are so many people exploiting this loophole to s
-
#US SEC Accuses Bittrex and Its Former CEO of Failure to Register as Trading Platform
According to reports, the US SEC has issued accusations regarding the failure of Bittrex, a cryptocurrency trading platform, and its former CEO to register as a trading platform. I
-
Arbitrum Announces the Restart of Odyssey Event
On March 17th, the Arbitrum community manager announced in the official Discord community that the Odyssey event would be restarted. According to previous reports, on June 29th last year, Arbitrum announced a suspension of Odyssey activities, stating that in order to ensure a better experience for users on Arbitrum One, it is tentatively planned to restart Odyssey activities after the official release of its Nitro development network based on the Ethereum test network. Arbitrum Community Manager: Odyssey event will restart Analysis based on this information:Arbitrum, a popular Ethereum scaling solution, has recently announced the restart of its Odyssey event through its community manager. The initial suspension of the event took place last year on June 29th, citing the need to ensure a better user experience on Arbitrum One. The company has now stated that the event will be restarted after the official release of the Nitro development network, which is based on the Ethereum test network. The Odyssey event is…
-
What does BTC Long/Short Ratio greater than 1 mean? (Where to check BTC Long/Short Ratio)
What does BTC Long/Short Ratio greater than 1 mean? What does BTC Long/Short Ra
-
Tesla’s Bitcoin Adoption Opened Doors for Adidas Web3
According to reports, Erika Wykes-Sneyd, head of Adidas Web3, revealed that if Tesla had not adopted Bitcoin as a payment method for its vehicles, Adidas might…