SG, China deepen cross-market ties in green finance and investments
The collaboration aims to boost international investment interest.
Singapore is set to enhance its financial cooperation with China through new green finance and capital markets initiatives.
The Monetary Authority of Singapore (MAS) will work with Chinese institutions to launch initiatives aimed at enhancing green financing flows as well as exploring a bond market framework and strengthening collaboration in indices and exchange-traded fund (ETF) product links to boost investor interest.
The two countries will also support financial institutions in gaining access to each other’s markets through the listing of the first Panda Bond on the Singapore Exchange (SGX) and the collaboration between UOB and the Shanghai Gold Exchange (SGE) to facilitate gold trading.
The initiatives were revealed at the 20th Joint Council for Bilateral Cooperation (JCBC) meeting in Singapore.
During the meeting, MAS also welcomed the listing of eligible Chinese companies seeking to expand operations in Southeast Asia on(SGX).
“Financial cooperation has been a key pillar underpinning the strong bilateral relations between China and Singapore. The strong slate of initiatives announced today at the 20th anniversary of JCBC reflects our continued commitment to deepen financial connectivity between our markets.” Chee Hong Tat, Second Minister for Finance and Deputy Chairman of MAS said.