Shanghai Pudong Development Bank Greenlights Massive Capital Instrument Issuance

Shanghai Pudong Development Bank Co Ltd has approved the issuance of 150 billion yuan worth of capital instruments, equivalent to $20.82 billion. This strategic move is aimed at bolstering the bank's financial stability and growth. The announcement comes with an exchange rate of $1 to 7.2029 Chinese yuan renminbi.

Shanghai Pudong Development Bank Co Ltd has sanctioned the issuance of 150 billion yuan (approximately $20.82 billion) in capital instruments.

This significant financial maneuver aims to enhance the bank's capital reserves and support its continued growth and stability.

The current exchange rate stands at $1 to 7.2029 Chinese yuan renminbi.

(With inputs from agencies.)