Regulators from Singapore and Beijing have announced a partnership aimed at expanding cross-border capital market activities between the two countries.
The move, which includes a nod to supervisory cooperation, was announced at a roundtable in Wuhan, China. The discussion was co-chaired byOng Chong Tee, deputy managing director atthe Monetary Authority of Singapore (MAS) and Fang Xinghai,vice chairman of China Securities Regulatory Commission's (CSRC).
Ong said in a statement: "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."
The regulatory roundtable has been an annual event since 2016.