The Monetary Authority of Singapore and China Securities Regulatory Commission (CSRC) met this week in a roundtable meeting to discuss closer cooperation. This is the second meeting of its kind with the first taking place in Chongqing, China in April 2016.
MAS and CSRC discussed how they could work together to facilitate the mutual development of their capital markets. The two regulators agreed on initiatives to support the listing of qualifying Chinese companies in Singapore and explore possible mutual recognition of collective investment schemes. MAS and CSRC also agreed on a “staff exchange program” where the two countries would see regulators spend time embedded in the counterparty operations.
The roundtable was co-chaired by MAS’ Deputy Managing Director Ong Chong Tee and CSRC’s Vice Chairman Fang Xinghai. Ong commented on the Roundtable;
“As global capital markets become more interlinked, it is important for supervisory authorities to promote greater understanding of their respective regulatory frameworks. With growing cross-border capital market activities taking place between China and Singapore, the MAS-CSRC Roundtable provides a good platform for both agencies to exchange views on potential areas for supervisory cooperation on a regular and timely basis.”