SGX Signs MOU to Enhance Capital Market Links Between Singapore and China

Singapore Exchange (SGX) and Industrial and Commercial Bank of China Limited (ICBC) have signed a memorandum of understanding (MOU) to collaborate on enhancing the links between Singapore and China’s capital markets.

We are pleased to be working with SGX to encourage Chinese companies’ participation in Singapore’s capital markets.

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“We look forward to working with ICBC to enhance the collaboration between China and Singapore’s capital markets, supporting Chinese companies to raise capital and seek investment opportunities through Singapore, whilst also helping to further internationalise the RMB”, said Chew Sutat, Head of Equities and Fixed Income.

Under the MOU, SGX and ICBC will collaborate to promote Singapore’s capital markets and support Chinese companies seeking to list equities or bonds on SGX, with a focus on real estate investment trusts (REITs) and offshore RMB bonds.

The support will include providing guidance on the listing process, listing rules as well as post listing marketing support in both China and Singapore.

SGX and ICBC will also explore collaboration in derivatives trading, bond trading and market making of RMB denominated contracts listed on SGX.

Zhang Weiwu, General Manager of ICBC Singapore branch, added: “As China’s largest bank and Singapore’s sole RMB clearing bank, we are pleased to be working with SGX to encourage Chinese companies’ participation in Singapore’s capital markets, especially as Chinese companies continue to adopt an increasingly global outlook in their growth, expansion and funding prospects.”