This will \u201csupport further growth of the offshore RMB market in Singapore, and facilitate the use of RMB for trade, investment and other economic activities in line with regional needs\u201d, the Monetary Authority of Singapore (MAS) said.<\/p>\n
MAS and the China Securities Regulatory Commission will also support secondary listings of A-share companies on the Singapore Exchange (SGX), to provide access to international capital and additional funding channels for regional business expansion. <\/p>\n
To facilitate this, MAS and SGX will be extending the secondary listing framework, including the streamlined prospectus requirements, for companies listed on the Shenzhen Stock Exchange and the Shanghai Stock Exchange.<\/p>\n
Under the memorandum of understanding (MOU), Singapore and China will also commence their over-the-counter bond market arrangement through Bank of China and DBS, as well as launch a pilot for a Chinese yuan digital wallet for Singapore travellers.<\/p>\n
Wide-ranging relationship<\/p>\n
Economic cooperation remains key to the Singapore-China relationship. Singapore and Tianjin will support the development of key industry sectors and expand new areas of collaboration for enterprises. <\/p>\n
The MOU between Singapore\u2019s Ministry of National Development and the Tianjin Municipal People\u2019s Government will also support joint initiatives to develop and promote pro-enterprise policies, and strengthen people-to-people exchanges in areas such as tourism, education and culture. <\/p>\n
In education, Singapore and China announced on Monday progress on university collaborations, with agreements exchanged to facilitate cooperation in international technology translation and commercialisation; joint education programmes; applied sciences; digital transformation and sustainable living; and intelligent design.<\/p>\n
The two countries also looked at food safety and food trade, signing documents on food safety and animal health requirements for exported meat from Singapore to China. <\/p>\n
They also approved several meat products\u00a0from Chongqing, Heilongjiang and Hunan provinces that can be exported to Singapore,\u00a0and removed several pre-export testing requirements.<\/p>\n
On health, Singapore and China agreed to promote cooperation in areas such as the prevention and control of communicable and non-communicable diseases, healthy ageing and aged care policy, and women\u2019s and children\u2019s health.<\/p>\n
Meanwhile, Singapore\u2019s law ministry and China\u2019s council for international trade promotion committed to work together in areas including international commercial dispute resolution, intellectual property management, legal support for the growth of digital and green economy, and international trade policies and compliance.<\/p>\n
Other tie-ups include sharing of information on digital and data policies, upgrading a customs twinning agreement, strengthening cooperation in science, technology and innovation, furthering cooperation in sports development and facilitating joint youth development.<\/p>\n
The MOU exchange ceremony followed a morning of meetings for the JCBC and joint steering council meetings for the Suzhou Industrial Park, Tianjin Eco-City and CCI.<\/p>\n
DPM Gan noted that this year\u2019s JCBC takes place amid an uncertain geopolitical environment, rapid technological changes and global economic headwinds \u2013 which Singapore and China are each trying to navigate.<\/p>\n
\u201cIt is, therefore, all the more important for Singapore and China to continue to find ways to cooperate, anticipating challenges and capitalising on new opportunities for our businesses and our peoples,\u201d he said.<\/p>\n
DPM Gan and Vice-Premier Ding also conducted a bilateral meeting earlier in the day. Ding hosted a lunch for Gan, who is also expected to attend a dinner hosted by Chongqing Party Secretary Yuan Jiajun.<\/p>\n
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.<\/p>\n","protected":false},"excerpt":{"rendered":"Deals are announced at bilateral meeting co-chaired by Singapore DPM Gan Kim Yong and Chinese Vice-Premier Ding Xuexiang…\n","protected":false},"author":2,"featured_media":192690,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[72,113,61,60],"class_list":["post-192689","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-economy","tag-ie","tag-ireland"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/192689","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=192689"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/192689\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/192690"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=192689"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=192689"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=192689"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}