On the morning of April 21, 2023, the 2023 China-Singapore Capital Market Cooperation Roundtable, jointly sponsored by the Shanghai Stock Exchange (SSE), the Shenzhen Stock Exchange (SZSE) and the Singapore Exchange Limited (SGX), was successfully held in Chongqing. The conference was an important part of the 5th Financial Summit of China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity. With strong support from the China Securities Regulatory Commission (CSRC) and the Chongqing Local Financial Supervision and Administration Bureau, the SSE, the SZSE and the SGX launched the conference to leverage the function advantages of exchanges as market organizers and create a platform for sharing experiences in the development of capital markets in China and Singapore and exploring the prospects of cross-border cooperation between the two countries. Targeting the market and based on cooperation, the conference invited eight financial institutions each from China and Singapore to offer suggestions on strengthening cooperation between the two countries' capital markets.
Zhang Yulong, Chief Representative of the Monetary Authority of Singapore (MAS)'s China Office, noted that the regulatory cooperation between China and Singapore and the connectivity between the two capital markets continue to deepen. Going forward, the MAS looks forward to deepening cooperation with the CSRC, local regulatory authorities and industry partners, seeking new opportunities, implementing new initiatives, and promoting further connectivity between the two capital markets.
Dong Guoqun, Executive Vice President of SSE, stated in his keynote speech that since signing the Memorandum of Understanding on cooperation in 2004, the SSE and the SGX have engaged in extensive cooperation in information exchange, staff communication, and collaborative research. In the future, the two exchanges will explore new forms of cooperation in products and other fields. He also expressed the hope that this conference will be a landmark event for China-Singapore capital market cooperation, and further boost the deepening of financial market cooperation between the two countries.
Over the years, under the unified leadership of CSRC, the SSE has steadily pushed forward its international business, proactively served the Belt and Road Initiative and other major national strategies, and kept deepening practical cooperation with capital markets of ASEAN and other countries along the Belt and Road. With the advancement of the Regional Comprehensive Economic Partnership (RCEP), the relationship between China and Singapore has been upgraded from an "all-round partnership with the times" to an "all-round high-quality forward-looking partnership", along with new opportunities for connectivity and cooperation between the two financial markets. Looking forward, the SSE will continue to resolutely implement the strategic deployment of the 20th CPC National Congress on promoting high-standard opening up and steadily expanding institutional opening up in terms of rules, regulations, management and standards, and continue to deepen cooperation with ASEAN exchanges, including SGX, to build a new development pattern of mutual promotion and integration of China-ASEAN capital markets under the strategy of "dual circulation" of domestic and international markets.
