The Monetary Authority of Singapore and the Shanghai Municipal Financial Regulatory Bureau aim for closer financial cooperation in several areas.
Shanghai and Singapore are set to strengthen financial linkages, the Monetary Authority of Singapore (MAS) and the Shanghai Municipal Financial Regulatory Bureau (SFRB) announced on Monday.
The key areas for closer financial cooperation include financing Belt and Road Initiative projects, facilitating international investments into China’s capital markets, and creating an ecosystem for collaboration between financial institutions and fintech firms (see below).
Jacqueline Loh, Deputy Managing Director, MAS, and Zheng Yang, Director General, SFRB, outlined these areas at the 4th Shanghai-Singapore Financial Forum (SSFF) held in Shanghai.
Tapping on China’s Financial Opening and Reforms
Under the theme, «China Expands Financial Opening and Greater Shanghai-Singapore Financial Cooperation», participants at the Forum discussed ways to deepen financial linkages between the two cities, tapping on China’s financial opening and reforms. More than 200 participants from Shanghai and Singapore attended the SSFF.
The SSFF concludes a landmark year for financial cooperation between China and Singapore. 2018 saw multiple high-level exchanges and milestone agreements reached, and marks a culmination of strong and consistent efforts by both countries to broaden and deepen financial cooperation over the years.
