Speech by FS at kick-off ceremony of Shanghai Commercial Bank's 75th anniversary celebration (English only) (with photos/video)
******************************************************************************************
Stephen (Chairman of the Shanghai Commercial Bank, Mr Stephen Lee), Lincoln (Director of the Shanghai Commercial & Savings Bank, Mr Lincoln Yung), Wallace (Chief Executive of the Shanghai Commercial Bank, Mr Wallace Lam), distinguished guests, ladies and gentlemen,
Good afternoon. It is a great pleasure to join you today to kick off the 75th anniversary celebrations of the Shanghai Commercial Bank (SCB) in Hong Kong.
Just now, Stephen shared the history and proud tradition of the SCB. I'm pleased to see that throughout your development, you have remained true to the visionary mission back in 1915 - to serve the community, to support industries, and to foster international trade. They remain as relevant today as they were over a century ago.
Over the years, the Bank has built a strong reputation for serving small and medium-sized enterprises (SMEs) as well as high-net-worth individuals. I believe what sets the SCB apart is the close relationships it has fostered with its clients - one that is built on trust and long-term commitment.
I'm also pleased to see that the Bank is embracing innovation and playing a pioneering role in advancing financial inclusion. A prime example is your launch of Hong Kong's first SME online platform built on the Interbank Account Data Sharing and Commercial Data Interchange infrastructure - an initiative that streamlines the account opening and loan application process, improving access to credit for SMEs.
And you are going further. Through active participation in the CargoX project, the SCB is collaborating with public and private partners to integrate credit, logistics and cross-boundary transaction data to facilitate financing and payment solutions for SMEs venturing abroad.
Looking ahead, I believe the SCB is well positioned for continued growth. Under the roadmap outlined in the 15th Five-Year Plan recommendations by the CPC Central Committee, the country will continue to pursue high-level two-way opening up. More Mainland enterprises will expand their global presence, and many of them will use Hong Kong's top-notch financial and professional services. With strong connectivity across the Shanghai Banks network, the SCB is well placed to support these enterprises to go global.
At the same time, Hong Kong is fast emerging as the world's largest cross-boundary wealth management centre. The Government is working closely with the industry to strengthen our asset and wealth management ecosystem - by expanding product offerings, enhancing market liquidity and deepening connectivity with global markets. These developments will open up new growth opportunities for your bank, particularly given your strategic focus in this area.
Ladies and gentlemen, on this special occasion, let me once again extend my heartiest congratulations to the SCB on your 75th anniversary in Hong Kong. I wish the Bank continued success and prosperity in the years to come.
And before I close, let me take this opportunity to remind everyone: mark your diaries for December 7, the Legislative Council Election. Your vote matters for our city, and for our shared future. Thank you very much.
Ends/Friday, November 7, 2025
Issued at HKT 16:50
Issued at HKT 16:50
NNNN
Photo
Audio / Video
FS attends kick-off ceremony of Shanghai Commercial Bank’s 75th anniversary celebration