Silicon Valley Bank bankruptcy Shanghai Pudong Silicon Valley: There is an independent

Affected by the bankruptcy incident of Silicon Valley Bank, Pudong Silicon Valley Bank, which was jointly launched by SPD and Silicon Valley Bank, emerged on March 11 (Saturday) in the morning that the company had an independent balance sheet.

Comprehensive Surging News and Tencent News reported that Pudong Silicon Valley Bank said in a statement that as the first technology bank in China, it is a legal person bank registered in China.The balance sheet is committed to serving Chinese science and technology innovation enterprises, and has always operated steadily in accordance with Chinese laws and regulations.

Pudong Silicon Valley Bank was established in 2012, and the headquarters landed in Yangpu District, Shanghai.Pudong Silicon Valley Bank's registered capital is 1 billion yuan (about S $ 195 million), and SPD and Silicon Valley Bank holds 50%of their equity.It is the first bank in China to have an independent legal person status and dedicated to serving the technology innovation -oriented enterprise. It is also the first Sino -US joint venture bank.

Silicon Valley Bank announced on March 9 that due to insufficient liquidity, it is planned to raise additional funds by selling ordinary shares and preferred shares.

As soon as the news came out, it triggered market panic and squeezed by storeders. Its parent company Silicon Valley Financial Group's shares plummeted by more than 60%within one trading day.In the pre -trading transaction on Friday (10th), the stock of Silicon Valley Financial Group plummeted again, a decline of 68%, and then entered a suspension state.

According to a statement issued by the US Federal deposit Insurance Corporation (FDIC), the California California Financial Protection and Innovation (DFPI) announced the closure of the Silicon Valley Bank of the United States on the same day and appointed US federal deposit insurance companies for bankruptcy managementpeople.Silicon Valley Bank is the 16th Bank of China in the United States, which is also the largest US Bank of America, which has closed down after the financial crisis in 2008.