DBS Bank's strong connection with Guangdong dates back to 2003, when it established the first branch in Shenzhen. Recognizing the vast opportunities within the Greater Bay Area, DBS Bank strategically positioned itself in the Greater Bay Area landscape as early as 2018. In 2023, the bank has been actively deepening its construction and collaboration efforts in the Greater Bay Area.
In June, DBS Bank signed a collaboration agreement at the 13th meeting of the Singapore-Guangdong Collaboration Council, establishing the third global technology research and development center in the Sino-Singapore Guangzhou Knowledge City. In May, DBS Bank officially launched its "Cross-Border Wealth Management Connect" Northbound Scheme service. Furthermore, DBS Bank has been strengthening its strategic partnership with Shenzhen Rural Commercial Bank in the Greater Bay Area, actively supporting the development of the real economy in the Greater Bay Area.
With the elevation of Sino-Singapore relations to a comprehensive, high-quality forward-looking partnership in 2023, DBS Bank plans to leverage the bilateral cooperation mechanism to continue supporting Chinese enterprises in their international ventures and facilitating the inflow of overseas institutions and funds. The Central Financial Work Conference at the end of 2023 emphasized the push for high-quality financial development, providing a strong impetus for DBS Bank's business expansion in China.
China remains a strategically significant market for DBS Bank Limited, and the Greater Bay Area is an indispensable part of DBS Bank's future development blueprint. Looking ahead to 2024, DBS Bank is committed to actively integrating into the high-quality development of the Greater Bay Area, serving as an "enabler" for the development of the real economy and industrial transformation. DBS Bank will leverage its strengths in areas such as RMB internationalization, green finance, and transformational finance to seamlessly provide cross-border financial services and products for Chinese enterprises going global, acting as a "bridge" between Singapore and the ASEAN region, and stepping onto the international stage.
