RMB infrastructure upgrade positions Singapore for Chinese firm listings

MAS appointed DBS as Singapore’s second RMB clearing bank.

Singaporea has strengthened its Chinese Renminbi (RMB) infrastructure and is facilitating secondary listings of Chinese firms, according to a CGS Strategy Note on ASEAN published by CGS-CIMB Securities.

The Monetary Authority of Singapore (MAS) appointed DBS Bank as the city’s second RMB clearing bank to support cross-border trade and investment.

The note also reported the launch of OTC bond market arrangements and expanded collaboration in green finance, indices, and ETFs within the country.

Other ASEAN economies are also adjusting to China’s 15th Five-Year Plan with Indonesia has increased domestic processing of nickel following raw ore export restrictions.

Thailand, meanwhile, recorded higher foreign direct investment and infrastructure projects linked to China’s Belt and Road Initiative whilst Malaysia also continues to receive Chinese investment in manufacturing, property, and services.

The CGS Strategy Note highlights Singapore’s expanded RMB facilities as part of broader regional changes driven by China’s industrial and financial policies.