Singapore, 18 September 2025 – UOB has expanded its strategic partnerships with leading Shandong institutions to accelerate cross-border business growth between China and ASEAN. At the Opening Ceremony of the 2025 Singapore–Shandong Week held at Marina Bay Sands, UOB signed a tripartite Memorandum of Understanding (MOU) with Hengfeng Bank Co. Ltd and Shangao Holdings Group Limited to strengthen cooperation in green development and infrastructure.
UOB, Hengfeng Bank and Shangao Holdings Group will collaborate to provide comprehensive financial solutions that support the internationalisation of Chinese enterprises, particularly in sectors aligned with the green transformation. These include cross-border trade financing, investment banking, and advisory services tailored to the Belt and Road Initiative.
The MOU was signed by Ms Janice Leong, Executive Director, Corporate Wealth Management, Group Commercial Banking, UOB; Mr Shen Zhenghua, General Manager, Transaction Banking Department, Hengfeng Bank; and Mr Li Tianzhang, Chairman of the Board, Shangao Holdings Group. The signing was witnessed by Mr Eric Lian, Managing Director and Head, Group Commercial Banking, UOB; Mr Bai Yushi, President, Hengfeng Bank; and Mr Li Huaifeng, Deputy General Manager, Shandong Hi-Speed Holdings Group which is the parent company of Shangao Holdings.
Shangao Holdings focuses on industrial investment in new energy and infrastructure in China and overseas. It is a subsidiary of Shandong Hi-Speed Holdings Group, which operates and manages toll roads, bridges and rail transit facilities.
Hengfeng Bank is a leading commercial bank in China, headquartered in Shandong province. Its active role in transaction banking and cross-border initiatives complements UOB’s regional network and Shangao Holdings’ investment expertise. The three parties will thus support outbound growth from Shandong into Southeast Asia.
In 2020, UOB and Hengfeng Bank launched a one-stop international trade service programme to strengthen cross-border business growth. Under the framework, there were S$574 million of trade financing, bond transactions and negotiable certificates of deposit transactions from January to August this year to support businesses – up from S$351 million in the same period last year.
Mr Eric Lian, Head of Group Commercial Banking, UOB, said, “This tripartite partnership reflects our commitment to working with Chinese enterprises to capture ASEAN’s growth opportunities. Complementing the strengths of Hengfeng Bank and Shangao Holdings, we are committed to being a trusted partner in ASEAN, connecting businesses to cross-border opportunities with our integrated supply chain platform and extensive trade network. This is anchored on our long-standing heritage and deep understanding of the diverse cultures and languages in the region.”
The signing took place during the China Shandong–Singapore Economic and Trade Cooperation Exchange Conference, attended by senior government officials and business leaders from both regions. The event was hosted by the Government of Shandong Province and co-organised by the Secretariat of the Singapore-China Business Association.
UOB signed a tripartite Memorandum of Understanding (MOU) with Hengfeng Bank Co. Ltd and Shangao Holdings Group Limited to strengthen cooperation in green development and infrastructure. The signing took place during the China Shandong–Singapore Economic and Trade Cooperation Exchange Conference, supported by The Shandong Great Business Partner and Enterprise Singapore.
Representatives from UOB, Hengfeng Bank and Shangao Holdings Group:
From left to right:
Mr Shen Zhenghua, General Manager, Transaction Banking Department, Hengfeng Bank;
Mr Li Tianzhang, Chairman of the Board, Shangao Holdings Group
Mr Eric Lian, Managing Director and Head, Group Commercial Banking
Mr Li Huaifeng, Deputy General Manager, Shandong Hi-Speed Holdings Group
Mr Bai Yushi, President, Hengfeng Bank;
Ms Janice Leong, Executive Director, Corporate Wealth Management, Group Commercial Banking
