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Singapore and China deepen capital markets ties with new finance links

The two sides will also expand cooperation on index and ETF development.

Singapore and China have agreed to deepen cooperation in capital markets and cross-border financing, with new initiatives spanning equity listings, bond market access, exchange-traded funds, and green finance, according to the Monetary Authority of Singapore (MAS).

MAS said it will work with the China Securities Regulatory Commission (CSRC) to support secondary listings of Shenzhen- and Shanghai-listed companies on the Singapore Exchange (SGX).

The move extends SGX’s existing secondary listing framework, including streamlined prospectus requirements, and is intended to give Chinese corporates broader access to international capital to support regional and global expansion.

In fixed income, MAS announced the launch of a new over-the-counter bond market arrangement that allows institutional investors in Singapore to access selected products in China’s Interbank Bond Market.

The two sides will also expand cooperation on index and ETF development. Building on the CSI SGX Emerging Asia Technology Index launched in 2024, and the CSI SGX Asia 100 Indices introduced in November 2025, MAS and CSRC will facilitate additional ETF launches under the China–Singapore ETF Product Links.

To date, ten ETFs have been launched under the framework, with assets under management growing 42.5% YoY.

Green finance remains a key pillar of bilateral cooperation. MAS said it will continue to work with the People’s Bank of China through the Singapore–China Green Finance Taskforce to update and promote the Multi-Jurisdiction Common Ground Taxonomy (M-CGT).

Several M-CGT-aligned green bonds have already been listed on SGX, including a dual-currency CNH3.5b and $350m issuance by ICBC Singapore and a RMB1.5b bond by CMB Financial Leasing issued in China and listed in Singapore.

MAS also highlighted an updated financial cooperation memorandum of understanding under the Chongqing Connectivity Initiative, aimed at promoting cross-border financing and investments, financial technology innovation, and green finance flows between Western China, Singapore, and ASEAN.

Separately, MAS noted that DBS has been appointed as Singapore’s second renminbi clearing bank, alongside ICBC, to support the development of the offshore RMB market and the use of renminbi in trade and investment flows.

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