General Announcement::News Release: SGX and ICBC sign MOU to enhance capital market links between Singapore and 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
19-Sep-2016 10:08:00
Status
New
Announcement Sub Title
News Release: SGX and ICBC sign MOU to enhance capital market links between Singapore and China
Announcement Reference
SG160919OTHRI9JM
Submitted By (Co./ Ind. Name)
Yee Kai Pin
Designation
Vice President
Effective Date and Time of the event
19/09/2016 00:00:00
Description (Please provide a detailed description of the event in the box below)
Singapore Exchange (SGX) and Industrial and Commercial Bank of China Limited (ICBC) today signed a memorandum of understanding (MOU) to collaborate on a range of areas that will enhance the links between Singapore and China's capital markets.

Under the MOU, SGX and ICBC will work together to promote Singapore s capital markets and support Chinese companies looking to list equities or bonds on SGX, with a focus on real estate investment trusts (REITs) and offshore RMB bonds. This support will include providing guidance on the listing process, listing rules as well as post listing marketing support in both China and Singapore.

SGX and ICBC will also explore collaboration in derivatives trading, bond trading and market making of RMB denominated contracts listed on SGX.

The MOU was signed between Chew Sutat, Head of Equities and Fixed Income at SGX, and Zhang Weiwu, General Manager of ICBC Singapore branch at the ICBC hosted forum "Infrastructure Partnership and Financing in One Belt, One Road -- Challenges and Opportunities". It was witnessed by Loh Boon Chye, CEO of SGX, and Yi Huiman, Board Chairman of ICBC.

Chew Sutat said, "We look forward to working with ICBC to enhance the collaboration between China and Singapore's capital markets, supporting Chinese companies to raise capital and seek investment opportunities through Singapore, whilst also helping to further internationalise the RMB."

Zhang Weiwu said, "As China s largest bank and Singapore's sole RMB clearing bank, we are pleased to be working with SGX to encourage Chinese companies participation in Singapore's capital markets, especially as Chinese companies continue to adopt an increasingly global outlook in their growth, expansion and funding prospects."

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