China's first bank for technological innovation opens

 SHANGHAI, Aug. 15 (Xinhua) -- China's first bank for technological¹ innovation, a result of joint² investment by Shanghai Pudong Development Bank (SPDB) and America's Silicon³ Valley Bank (SVB), opened in Shanghai on Wednesday.

With a 1-billion-yuan (about 157 million U.S. dollars) investment, and each side holding 50 percent of shares, the SPD Silicon Valley Bank is the first joint venture bank since 1997 to win authorization⁴ by the country's Banking⁵ Regulatory Commission.

Yu Zhengsheng, a member of the Political Bureau of the Communist Party of China (CPC) Central Committee and secretary of the Shanghai Municipal Committee of the CPC, inaugurated the bank on Wednesday morning.

The facility combines Shanghai's excellent financial resources and overseas financial services, said Tu Guangshao, vice⁶ mayor of Shanghai.

Fu Jianhua, former vice board chairman and vice president of SPDB serves as board chairman of the new bank, while Ken⁷ Wilcox, board chairman of the SVB serves as its president.

The SPD Silicon Valley Bank will mainly focus on business in Shanghai and then explore more high-tech⁸ cities in China, said Fu, emphasizing its offering of services for innovative⁹ enterprises.

Shanghai Pudong Development Bank, a nationwide joint-stock commercial bank, founded in 1992, now has a registered capital of 18.653 billion yuan.

Silicon Valley Bank, founded in 1983 and headquartered in Santa Clara, California, serves clients around the world through 27 U.S. offices and three international operations.

1 technological   

adj.技术的；工艺的

参考例句：

• A successful company must keep up with the pace of technological change.一家成功的公司必须得跟上技术变革的步伐。
• Today,the pace of life is increasing with technological advancements.当今， 随着科技进步，生活节奏不断增快。

2 joint   

adj.联合的，共同的；n.关节，接合处；v.连接，贴合

参考例句：

• I had a bad fall,which put my shoulder out of joint.我重重地摔了一跤，肩膀脫臼了。
• We wrote a letter in joint names.我们联名写了封信。

3 silicon   

n.硅(旧名矽)

参考例句：

• This company pioneered the use of silicon chip.这家公司开创了使用硅片的方法。
• A chip is a piece of silicon about the size of a postage stamp.芯片就是一枚邮票大小的硅片。

4 authorization   

n.授权，委任状

参考例句：

• Anglers are required to obtain prior authorization from the park keeper.垂钓者必须事先得到公园管理者的许可。
• You cannot take a day off without authorization.未经批准你不得休假。

5 banking   

n.银行业，银行学，金融业

参考例句：

• John is launching his son on a career in banking.约翰打算让儿子在银行界谋一个新职位。
• He possesses an extensive knowledge of banking.他具有广博的银行业务知识。

6 vice   

n.坏事；恶习；[pl.]台钳，老虎钳；adj.副的

参考例句：

• He guarded himself against vice.他避免染上坏习惯。
• They are sunk in the depth of vice.他们堕入了罪恶的深渊。

7 ken   

n.视野，知识领域

参考例句：

• Such things are beyond my ken.我可不懂这些事。
• Abstract words are beyond the ken of children.抽象的言辞超出小孩所理解的范围.

8 high-tech   

adj.高科技的

参考例句：

• The economy is in the upswing which makes high-tech services in more demand too.经济在蓬勃发展，这就使对高科技服务的需求量也在加大。
• The quest of a cure for disease with high-tech has never ceased. 人们希望运用高科技治疗疾病的追求从未停止过。

9 innovative   

adj.革新的，新颖的，富有革新精神的

参考例句：

• Discover an innovative way of marketing.发现一个创新的营销方式。
• He was one of the most creative and innovative engineers of his generation.他是他那代人当中最富创造性与革新精神的工程师之一。