SSE and SGX Sign Memorandum of Understanding on ETF Product Connectivity to Help Build New Development Pattern of China-ASEAN Capital Market Connectivity and Cooperation
On 19 May, the Shanghai Stock Exchange (SSE) and the Singapore Exchange (SGX Group) officially signed a Memorandum of Understanding (MOU) on ETF product connectivity, marking a new step in product cooperation between the capital markets in China and Singapore and a new level for the cross-border product connectivity business. According to the MOU, the two exchanges will focus on strengthening cooperation in ETF product connectivity, supporting Chinese and Singaporean market institutions to cooperate in developing ETF connectivity products to provide diversified cross-border investment choices for investors in both countries.
The SSE and the SGX Group have maintained a good and continuous relationship. Since the signing of the MOU on cooperation in 2004, both sides have been closely collaborating in terms of high-level visits, staff exchanges and information exchange. The signing of the MOU on ETF product connectivity is an exploration of a new way of cooperation in the product area, which will further deepen the relationship between the two exchanges and promote quality and synergistic development of cross-border cooperation between the capital markets in China and Singapore. On the basis of the mature model of cross-border ETF connectivity, the SSE and the SGX Group will actively explore to launch products on selected ETFs in each other's market, improve their respective suite of international products, and meet the growing cross-border investment needs of investors in both countries.
In the next step, the SSE will, in accordance with the unified deployment of the CSRC, firmly implement the strategic deployment of the 20th CPC National Congress to promote high-level opening up and steadily expand the institutional opening up of rules, regulations, management, and standards, further optimise and improve the connectivity mechanism, proactively serve the Belt and Road Initiative and other major national strategies, continue to deepen practical cooperation with capital markets in ASEAN and other countries along the Belt and Road, and help build a new development pattern of mutual promotion and integration between the China-ASEAN capital markets under the dual circulation strategy.
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