China Pudong Silicon Valley Bank renamed as "Shanghai Technology Innovation Bank", with Pudong Development Bank holding 100% of the shares
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China PuFa Silicon Valley Bank has been renamed as "Shanghai Science and Technology Innovation Bank Co., Ltd.", with Pudong Development Bank holding 100% of the shares. This change has been approved by the China Banking and Insurance Regulatory Commission, and the registered capital has been adjusted from 2 billion RMB to 1 billion RMB. In 2012, PuFa Silicon Valley Bank was jointly established by Silicon Valley Bank and Pudong Development Bank, each holding 50% of the shares
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