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Beijing Business Daily (Reporter Song Yitong) This Sino-foreign joint venture bank welcomes a new "head". On August 14, the Shanghai Regulatory Bureau of the State Financial Supervision and Administration issued three administrative license approvals in a row, approving the qualifications of Kang Jie, chairman of SPD Silicon Valley Bank, and two directors, Shen Jiaxing and Du Xiaozhe. Beijing Business Daily reporters noted that on August 14, the official website of SPD Silicon Valley Bank had updated the information about Kang Jie's new appointment. In the view of analysts, as a veteran of the banking system, Kang Jie's joining will help the bank optimize its management system and strengthen risk prevention and control, thereby achieving long-term and stable development.

Kang Jie is an "old banker". According to public information, he started working in July 2002 and served as the secretary of the Youth League Committee of Shanghai Rural Commercial Bank, deputy president of Qingpu Branch, deputy president (in charge of work) and president of Huangpu Branch. From January 2019 to February 2020, he served as deputy president of Shanghai Rural Commercial Bank. In February 2020, he served as deputy director of Shanghai State-owned Assets Supervision and Administration Commission. In March 2024, the regulator approved Kang Jie's qualification as deputy president of Shanghai Pudong Development Bank. Before Kang Jie took up his new post, according to the 2023 annual report of Shanghai Pudong Development Bank Silicon Valley Bank, Zheng Yang served as the chairman of the bank.

Kang Jie has unique insights in the field of science and technology. At the 2023 annual and first quarter 2024 performance briefing held by Pudong Development Bank, when introducing the technology and financial ecosystem of Pudong Development Bank, Kang Jie mentioned that it will upgrade the three-dimensional product matrix of technology finance for the entire life cycle, and increase financing support for technology companies; continuously improve the exclusive evaluation system for technology companies, and enhance the accuracy of technology financial services. It is hoped that through the integrated application of digital systems, the rapid matching of corporate needs and banking services will be ultimately achieved, thereby enhancing the service experience of technology-based companies in banks.

Beijing Business Daily reporters noticed that on August 14, the official website of Pufa Silicon Valley Bank updated the information about Kang Jie's new appointment. The bank's main management team currently includes Chairman Kang Jie, President Lu Jue, Vice President and Chief Financial Officer Zhu Hongfang, Vice President and Chief Risk Control Officer Cheng Ying, Vice President and Chief Compliance Officer Yang Yuerong and other senior executives.

After Kang Jie took office, the development of SPD Silicon Valley Bank has attracted much attention. In 2012, Silicon Valley Bank and SPD Bank jointly established SPD Silicon Valley Bank, with each party holding 50% of the shares. The bank has a national commercial banking license and is headquartered in Shanghai, with branches in Beijing, Shenzhen and Suzhou. SPD Silicon Valley Bank is positioned as a science and technology bank focusing on the innovative economy, with business coverage covering digital transformation, intelligent manufacturing, semiconductors, life sciences and healthcare, climate technology and new energy and other technological innovation fields.

In terms of performance, as of the end of the reporting period in 2023, Pufa Silicon Valley Bank's total assets reached 18.477 billion yuan and its net assets were 2.142 billion yuan. During the reporting period, the bank achieved operating income of 409 million yuan and net profit of 68 million yuan. In 2022, the bank achieved operating income of 401 million yuan and net profit of 52 million yuan.

Previously, the bankruptcy of the trillion-dollar Silicon Valley Bank triggered a liquidity crisis, and panic also spread to Shanghai Pudong Development Bank. In response, the bank issued a statement saying that Shanghai Pudong Development Bank has a standardized corporate governance structure and an independently operated balance sheet. As China's first technology bank, the bank is committed to serving Chinese technology companies and has always operated prudently in accordance with Chinese laws and regulations.

Liao Hekai, an analyst at Jinle Function, said that Kang Jie's joining will help the bank optimize its management system and strengthen risk prevention and control, thereby achieving long-term and stable development and bringing new development opportunities to the bank. He expects that he can lead the bank to deepen its efforts in the field of technology finance, promote the prosperity and development of China's financial technology industry, and provide better services to domestic and foreign customers.

"For SPDB Silicon Valley Bank, the future will mainly focus on combining the advantages of its shareholders to serve as a bridge for Sino-US technology business and technological exchanges. We will establish a financial business model in China that suits local characteristics to serve start-ups and technology innovation companies, and help solve funding problems for start-ups in the fields of software, hardware, life sciences, new energy, and new materials," said Liao Hekai.