China: Announced China-Singapore Digital Finance and Capital Markets Cooperation including measures to enable cross-border payments

Description

Announced China-Singapore Digital Finance and Capital Markets Cooperation including measures to enable cross-border payments

On 7 December 2023, the Monetary Authority of Singapore (MAS) announced an initiative on digital finance and capital markets aimed at expanding financial cooperation with China and enabling cross-border payments. Among these initiatives is the initiation of a pilot programme enabling travellers from both nations to use e-CNY for tourism expenditures in Singapore and China enabling overseas purchases. Additionally, the initiative includes the introduction of the Exchange Traded Funds (ETF) Product Link connecting the Singapore Exchange (SGX) with the Shanghai Stock Exchange (SSE). Furthermore, there is a collaboration on information exchange, reciprocal visits, training, and joint research concerning products and business areas related to green development.

Original source

Scope

Policy Area
Design and testing standards
Policy Instrument
Interoperability requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies), other service provider
Implementation Level
bi- or plurilateral agreement
Government Branch
executive
Government Body
other regulatory body

Complete timeline of this policy change

Hide details
2023-12-07
adopted

On 7 December 2023, the Monetary Authority of Singapore (MAS) announced an initiative on digital fi…

We use cookies and other technologies to perform analytics on our website. By opting in, you consent to the use by us and our third-party partners of cookies and data gathered from your use of our platform. See our Privacy Policy to learn more about the use of data and your rights.