MAS: New initiatives to facilitate capital market activities between Singapore and China

MAS Monetary Authority of Singapore

The Monetary Authority of Singapore (MAS) has yesterday shared with the pubic that new initiatives were underway to strengthen capital market activities between Singapore and China.

The initiatives were discussed at the 15th Joint Council for Bilateral Cooperation between Singapore and China and aim to facilitate the growing interest of financial institutions based in Singapore and China to expand in each other’s markets.

DBS will be granted a Settlement Agent Licence by the People’s Bank of China (PBC), enabling it to trade, settle and provide custody for China’s interbank bond market instruments on behalf of foreign investors.

MAS and PBC will also establish a cooperation mechanism that enables designated Singapore and Chinese banks to offer custody and trading services for regional and global investors in China’s bond market.

MAS and the China Securities Regulatory Commission are also in discussions to enhance capital market connectivity, and have agreed to strengthen cross-border supervisory cooperation to promote the healthy and stable development of the securities and futures markets.

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