SGX inks agreements with Chinese associations
Singapore Stock Exchange signed memorandums of understanding with the Zhejiang Entrepreneurs Association and China Futures Association earlier this week in an effort to further strengthen ties with China as part of its multiasset, international growth strategy.
Loh Boon Chye, chief executive officer of SGX, said the bourse will continue to promote Singapore as a choice location for Chinese companies looking to expand their businesses internationally, as well as reinforce SGX's role in facilitating the growing institutional investor demand for risk management tools and broader access to China.
About 20 percent of listed companies and 15 percent of bond issuers on SGX are from Greater China, with more than 104 billion yuan ($15 billion) of market capitalization and 148.6 billion yuan of outstanding amount, respectively.
Leveraging Singapore's role as a global renminbi center, the bourse is also one of the leading clearing houses in the world accepting offshore RMB for margin collaterals, clearing and settlement.
