The investment is expected to help expand Ecoplast’s production capacity and strengthen its position in the global bioplastic market.

Ecoplast chairman Xianbing Zhang said that Standard Chartered’s global network, in-depth understanding of local clients, diversified banking product offering and dedicated expertise are great assets to Ecoplast.

"The strategic partnership with Standard Chartered has laid a solid foundation for Ecoplast’s global expansion and has strengthened the Company’s long-term competitive positioning," added Zhang.

Standard Chartered Private Equity managing director and Greater China head Wei Zhu said that Ecoplast has had large commercial scale production since 2004 and they are confident that the Company’s long-term growth will benefit from the strong support from Standard Chartered.