Aggregated News From Investment Management Regulators

Singapore and China expand financial cooperation to support post-COVID-19 recovery


Please complete the required fields.

The Monetary Authority of Singapore (MAS) today announced initiatives to enhance financial cooperation between Singapore and China. These measures will build on existing areas of collaboration and facilitate financing and investment activities in support of a post-COVID-19 recovery in Singapore and China.

2   The initiatives were discussed at the 16th Joint Council for Bilateral Cooperation (JCBC) between Singapore and China, co-chaired by Singapore Deputy Prime Minister, Coordinating Minister for Economic Policies and Minister for Finance, Mr Heng Swee Keat, and People’s Republic of China Executive Vice Premier of the State Council, Mr Han Zheng.

3   The initiatives include:

  • RMB Cooperation – MAS recently launched a new RMB 25 billion initiative to enhance RMB market liquidity, through MAS’ money market operations. This initiative will better meet the RMB financing and hedging needs of corporates in Singapore and the region.
  • Cooperation between Singapore and Chinese Exchanges – MAS and the China Securities Regulatory Commission (CSRC) are facilitating efforts by Singapore and Chinese exchanges to collaborate in new areas such as exchange traded funds.
  • Digital Finance – MAS and the People’s Bank of China will strengthen cooperation in digital finance to support tourism, trade and e-commerce between our countries.
  • Green Finance – MAS will work with Chinese central and provincial counterparts to broaden cooperation in green finance.

4   In addition, MAS announced the award of the following:

  • A qualifying full bank (QFB) licence to China Construction Bank, under the China-Singapore Free Trade Agreement Upgrade Protocol.
  • Recognition of Zhengzhou Commodity Exchange as a recognised market operator, allowing investors in Singapore access to the commodity derivatives markets in China.

These announcements follow CSRC’s approval in August this year for the establishment of DBS Securities (China) Limited, a securities joint venture in China, providing customers in China greater access to international capabilities and offerings.

5   Ms Jacqueline Loh, Deputy Managing Director of MAS, said, “Financial services will play a critical role in facilitating a post-COVID-19 economic recovery. At the same time, RMB internationalisation and the further opening up of China’s capital markets are two key trends shaping Asia’s financial services landscape over the medium term. Singapore can play a useful role in this transformation, while supporting bilateral growth, and trade and investments between China and Singapore.”

This news item was originally published by the Monetary Authority of Singapore (MAS SG). For more information, see the Source Link.

Regulator Information

Abbreviation: MAS
Jurisdiction: Singapore

Recent Articles

Aktualisierte Sanktionsmeldung

Das Staatssekretariat für Wirtschaft (SECO) hat eine Änderung der Verordnung vom 2. Oktober 2000 über Massnahmen gegenüber Personen und Organisationen mit Verbindungen zu Usama...


This firm may be providing financial services or products without our authorisation. You should avoid dealing with this firm and beware of potential scams. Almost...

Remittance Advice against : Pawan Kumari Agarwal [Defaulter] PAN: ABOPA5019J in the matter of Sulabh Engineers & Services Limited., under Recovery Certificate No. 6619...

This news item was originally published by the Securities and Exchange Board of India (SEBI IN). See the Remittance Advice here: Source link "

Completion of Recovery Certificate No. 6684 of 2023 dated June 15, 2023 issued against Shreya Stocks & Shares Pvt. Ltd. (Now known as Omesh...

This news item was originally published by the Securities and Exchange Board of India (SEBI IN). See the details here: Source link "

Release Order – Shreya Stocks & Shares Pvt. Ltd. (Now known as Omesh Skill & Business Development Private Limited) [Defaulter] PAN: AAHCS4970M in the...

This news item was originally published by the Securities and Exchange Board of India (SEBI IN). See the Order here: Source link "

Get the latest from Regulatory.News in your inbox!