Shanghai Pudong Development Bank Co Ltd (SPD Bank)'s subsidiary, SPDB Financial Leasing Co Ltd, partnered with a global new energy materials company and Lin-gang Special Area to launch a financing lease project for a nickel smelting production line, marking a step-up in services linking cross-border leasing with high-end manufacturing.

A view of Dishui Lake in Lin-gang Special Area. [Photo/lingang.gov.cn]

The project boasts a total contract value of nearly 1.5 billion yuan ($219.55 million), with an initial disbursement of 370 million yuan. It features a complete set of domestically developed nickel smelting equipment that will be deployed overseas through special purpose vehicles. This project reflects practical support for China's high-end manufacturing exports and strengthens to Shanghai's role as an international financial center.

The project is fully denominated and settled in renminbi, helping enterprises hedge against exchange rate volatility and offering a new pathway for the international use of the currency in industrial finance.

Nickel, a key strategic metal for new energy batteries and advanced manufacturing, is critical for maintaining supply chain security. Through this project, SPDB Financial Leasing offers financial support for the global expansion of China's high-end smelting equipment and helps clients build overseas resource smelting bases.

Looking ahead, SPDB Financial Leasing will continue to capitalize on Lin-gang's policy advantages, delivering more specialized leasing services to aid Chinese companies in their global expansion efforts.