Cookies on Pinsent Masons website

Our website uses cookies and similar technologies to allow us to promote our services and enhance your browsing experience. If you continue to use our website you agree to our use of cookies.

To understand more about how we use cookies, or for information on how to change your cookie settings, please see our Cookie Policy.

Shanghai and Singapore announce greater investment cooperation

Shanghai and Singapore have announced measures aimed to generate greater collaboration between financial institutions in the cities as well as financing for 'belt and road' projects and measures to bring international investment to China's capital markets.29 Nov 2018

The measures were announced by the Monetary Authority of Singapore (MAS) and Shanghai Municipal Financial Regulatory Bureau (SFRB) at the fourth annual Shanghai-Singapore Financial Forum (SSFF) forum.

The plans also include measures to increase collaboration between financial institutions and fintech companies.

China and Singapore have been cooperating for five years, focusing on Renminbi internationalisation; supervisory exchanges; financial market connectivity; innovation and fintech, and the belt and road initiative.

"These initiatives provide strong support to the growing economic and financial linkages between China and Southeast Asia," said  MAS deputy managing director Jacqueline Loh.

MAS said that there has been lots of cooperation between the Singapore and Shanghai in 2018. In November this year regulators and financial institutions in China and Singapore signed agreements to collaborate more on fintech projects, which also include plans to develop a fintech industry in the city of Chongqing and to develop opportunities between Chongqing and Singapore under China's 'belt and road' infrastructure programme.

Nathanael Lim of Pinsent Masons MPillay, the Singapore joint venture partner of Pinsent Masons, the law firm behind Out-Law.com, said, "The collaboration will bring forth more opportunities for both countries, and will help Singapore’s fintech scene to continue to develop and advance".

China and Singapore also 'upgraded' a free trade agreement between the two states in November.

Recent Financial Services Experience