Bank of Shanghai completes CNY 5bn tech innovation bond

Bank of Shanghai (SSE:601229) has successfully issued its first phase of science and technology innovation bonds for 2025, raising CNY 5 billion. The bonds, with a three-year maturity and a fixed interest rate of 1.67%, are earmarked for technology-focused lending, investments in tech-related industries, and supporting innovative enterprises. Concurrently, the bank announced the departure of Vice President Wang Ming, effective May 21, 2025, due to an internal organizational transfer. Wang Ming will also relinquish his position as Chief Legal Counsel. Wang Ming has committed to honoring an existing pledge to hold Bank of Shanghai shares purchased in 2023 and 2024 for a period of two years.