In a groundbreaking move, the Monetary Authority of Singapore (MAS) unveiled pioneering initiatives during the 19th Joint Council for Bilateral Cooperation (JCBC) in Tianjin. Co-chaired by Singapore's Deputy Prime Minister, Mr Lawrence Wong, and China's Executive Vice Premier, Mr Ding Xuexiang, the collaboration aims to elevate the synergy between the two economic powerhouses.

MAS, in partnership with the Digital Currency Institute of the People’s Bank of China, is set to launch a Cross-border E-CNY Pilot. This innovative pilot will empower travelers from both nations to seamlessly utilize e-CNY for tourism spending in Singapore and China, marking a significant stride towards enhancing convenience for international travelers.

Simultaneously, the Singapore Exchange (SGX) and Shanghai Stock Exchange (SSE) have inked a transformative MOU, propelling the launch of the Exchange Traded Funds (ETF) Product Link. Following the success of a similar venture with the Shenzhen Stock Exchange in 2022, this recent collaboration fosters greater collaboration opportunities between fund managers and facilitates improved investor access to ETF products in both markets.

Furthermore, the collaboration extends to the signing of an MOU between SGX and Guangzhou Futures Exchange (GFEX). This strategic alliance encompasses information exchange, mutual visits, training, and joint research, with a focus on products and business areas related to green development.

The new order is growing fast...

Source - The Monetary Authority of Singapore (MAS), 7.12.2023