Shanghai Pudong Development Bank launched a representative office in London on Wednesday, the first overseas office for the 20-year-old Chinese bank.

Currently, SPD Bank's presence is a representative office, which seeks to analyze Europe's financial environment and find a good location to establish a European subsidiary or branch.

"In finding a suitable location, we consider many factors, including legal environment, market barrier to entry, return on investment, room for future growth and proximity to global financial centers," said Gao Xia, SPD's chief representative in London.