The Lin-gang Special Area Administration in Shanghai signed a strategic cooperation agreement with SCV Research & Development Pte Ltd, a Singaporean company directly consolidated by Standard Chartered, at the Lingang Center on Sept 12.

SCV is set to establish a subsidiary called TASConnect in Lin-gang. Both parties will give play to their advantages in opening-up, institutions, policies, and experience in the sector to jointly construct a fintech cluster in the Lin-gang Special Area. They aim to carry out cooperation in fields such as financial technology ecosystem development, fintech application scenarios, and empowering the real economy with financial innovation.

By virtue of this strategic cooperation, the two sides will jointly promote the deep integration of finance and technological innovation, boosting the fintech cluster in Lin-gang and contributing to the construction of Shanghai's international financial and sci-tech innovation centers.