UOB, Hengfeng Bank, Shangao Holdings ink MOU for Chinese firms’ overseas expansion

They will provide cross-border trade financing and investment banking solutions, amongst others.

UOB has signed a tripartite memorandum of understanding with Hangfeng Bank Co. Ltd. and Shangao Holdings Group Limited to strengthen cooperation in green development and infrastructure.

The three companies will collaborate to provide financial solutions that support Chinese enterprises’ expanding overseas, particularly in sectors aligned with green transformation, UOB said in a news release on 18 September 2025.

Amongst financial solutions covered are cross-border trade financing, investment banking, and advisory services tailored to the Belt and Road initiative.

Shangao Holdings focuses on industrial investments on industrial investment in new energy and infrastructure. It is a subsidiary of Shandong Hi-Speed Holdings Group, which operates and manages toll roads, bridges and rail transit facilities.

Meanwhile, Hengfeng Bank is a commercial bank in China’s Shandong province and was noted for its transaction banking and cross-border initiatives, which UOB said complements the Singaporean bank’s regional network and Shangao Holdings’ investment expertise.

UOB inked the partnerships with the Shandong institutions during the opening ceremony of the 2025 Singapore-Shandong week held at Marina Bay Sands. Janice Leong, executive director, corporate wealth management, for Group Commercial Banking inked the MOU in behalf of UOB.

Leong was joined by Shen Zhenghua, general manager for Hangfeng Bank’s transaction banking department; and Li Tianzhang, chairman of the board at Shangao Holdings Group.