Singapore, China will allow direct trading between currencies

Will strengthen Singapore's status as leading offshore RMB hub.

The Monetary Authority of Singapore said China will also grant Singapore-based investors a US$8.2 billion investment quota under its Renminbi Qualified Foreign Institutional Investor program. This will allow investors based in Singapore to use the renminbi to invest in Chinese stocks and bonds. The program will help to diversify the base of investors in China's capital markets and promote adoption of the RMB for investment. Chinese institutional investors will also be allowed to use the RMB to invest in Singapore's capital markets. Together, the new initiatives will further promote the international use of the renminbi through Singapore, MAS said.

Also Read

India, Maldives ink deal to promote local currencies for cross-border trade

Malaysia fines money changer for customer due diligence lapses

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit