General Announcement::News Release: SGX partners CCI Administrative Bureau to deepen ties in Western China

Issuer & Securities

Issuer/ Manager
SINGAPORE EXCHANGE LIMITED
Securities
SINGAPORE EXCHANGE LIMITED - SG1J26887955 - S68
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
08-Jan-2019 17:10:42
Status
New
Announcement Sub Title
News Release: SGX partners CCI Administrative Bureau to deepen ties in Western China
Announcement Reference
SG190108OTHRVFCD
Submitted By (Co./ Ind. Name)
Jo-Ann
Designation
Senior Associate, Marketing & Communications
Description (Please provide a detailed description of the event in the box below)
Singapore Exchange (SGX) today signed a new strategic cooperation agreement with the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity (CCI) Administrative Bureau, broadening its slate of collaborations with China as part of its efforts to support Singapore-China financial cooperation. CCI is the third inter-governmental project between Singapore and China.

Apart from facilitating access to innovative cross-border financial services for enterprises from Western China, this agreement between SGX and CCI Administrative Bureau will support Chongqing in its central role in catalysing business opportunities under the CCI.

The agreement with CCI Administrative Bureau builds on existing partnerships between SGX and the State-Owned Assets Supervision and Administration Commission (SASAC) as well as Financial Affairs Office (FAO) of the Chongqing Municipal Government, to help Chongqing companies access international capital funding for business expansion.

Chew Sutat, Executive Vice President and Head of Equities and Fixed Income, SGX, said, "Today's signing with CCI Administrative Bureau marks an extension of our partnership focused on Western China, underscoring SGX's commitment in supporting Chinese companies looking for cross-border funding opportunities. As both China and Singapore governments work towards greater connectivity between Western China and Southeast Asia, the need for more international capital will grow. SGX is well-placed to support this trend. We look forward to lending our support as Asia's most international exchange, in facilitating broader and deeper financial connectivity between Singapore and China."

At present, out of about 740 companies listed on SGX, over 100 originate from Greater China and make up about 20% of the market capitalisation of companies listed in Singapore. As the bond centre of Asia, about 15% of bond issuers on SGX are from Greater China.

Besides being one of the leading clearing houses globally accepting offshore RMB for margin collaterals, clearing and settlement, SGX's equity index, currency and commodity derivatives are also effective key risk management tools for international market participants investing in China.

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