Singapore and China reaffirm green finance cooperation

They are advancing discussions on taxonomy criteria for transition activities.

Singapore and China’s central banks have reaffirmed their commitment to advance cooperation in green and transition finance.

Amongst initiatives include strengthening their partnership to advance taxonomy interoperability, as discussed during the 3rd Singapore-China Green Finance Taskforce (GFTF) meeting, held on 11 July 2025.

The Monetary Authority of Singapore (MAS) and the People’s Bank of China (PBOC) were joined by 40 public and private sector participants.

MAS and the PBOC are advancing discussions on the taxonomy criteria for transition activities and exploring ways to establish interoperability.

In November 2024, the two central banks launched the multi-jurisdiction common ground taxonomy (M-CGT).

Under this, OCBC Bank (Hong Kong) arranged China’s first M-CGT aligned green syndicated loan to Shudao Financial Leasing (Shenzhen) Co. Ltd in June 2025.

Separately, Singapore Exchange and the China International Capital Corporation continue to collaborate to facilitate green finance flows through the Green Corridor.

The Green Corridor, announced at the 2nd GFTF meeting in 2024, aims to encourage greater green financing flows between Singapore and China. It focused on green panda bond issuances to start.

MVGX and the Beijing Green Exchange also provided an update on their plans to demonstrate how technology-enabled emissions monitoring can facilitate the provision of green financing solutions by Singapore and Chinese financial institutions to their clients, the press release said.