Business

MAS and Chinese counterpart to strengthen cooperation

SINGAPORE: The Monetary Authority of Singapore (MAS) and the China Securities Regulatory Commission (CSRC) agreed to strengthen supervisory cooperation and facilitate the development of their capital markets.

During the 2nd MAS-CSRC Supervisory Roundtable held in Singapore on Tuesday, MAS and CSRC discussed regulatory developments in the derivatives markets and their respective frameworks for supervising fund managers.

INFORMATION-SHARING

They also deliberated on enhancing information-sharing arrangements for derivative products through an upgraded memorandum of understanding.

The roundtable was co-chaired by MAS' Deputy Managing Director (Financial Supervision) Ong Chong Tee and CSRC's vice-chairman Fang Xinghai.

It is one of the key outcomes of President Xi Jinping's state visit to Singapore in 2015, which called for securities regulators from both sides to hold regular high-level dialogue sessions.

The second edition followed the inaugural roundtable which was held in Chongqing, China, in April 2016.

Mr Ong said: "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." - THE STRAITS TIMES

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