Regulators from Singapore and China held a roundtable and agreed to expand cross-border capital market activities and supervisory cooperation.
The roundtable was hosted in Wuhan, China and was co-chaired by the Monetary Authority of Singapore’s (MAS) deputy managing director Ong Chong Tee and China Securities Regulatory Commission’s (CSRC) vice chairman Fang Xinghai.
In addition to recent regulatory developments, Ong and Fang also discussed the opening up of China’s securities and futures industry and Singapore’s efforts to strengthen market discipline in capital markets. The two also spoke of the use of data analytics in capital market supervision and the application of blockchain technology in capital markets.
China-Singapore Relations
The CSRC and MAS first launched a regulatory roundtable in April 2016 to kickstart greater cooperation in a myriad of areas. According to the MAS’s Ong, the annual roundtable has been a «valuable forum for both sides to have candid exchanges and close interactions on areas of mutual interest».
«This is important given the growing interconnectivity and increased participation of Chinese and Singapore financial institutions in each other’s market, including in the areas of co-operation as discussed at the recent 15th Joint Council for Bilateral Cooperation,» he said, in a recent statement.
