BEIJING: A new pact has been signed to help Chinese companies tap on Singapore’s capital markets and expertise as a regional treasury hub and global financing centre, when they venture into Southeast Asia.
They will also offer support like trade settlement, project financing, liquidity management, foreign exchange and derivatives transactions, as well as connect Chinese enterprises to potential business partners across ASEAN. More than 180,000 Chinese enterprises under the CCOIC are expected to benefit from this partnership with UOB and SGX, according to the press release.The new pact builds on UOB’s existing collaboration with CCOIC, it added. Last year, UOB helped 50 per cent more Chinese companies expand into ASEAN compared to 2017, resulting in a 31 per cent increase in cross-border business flows over the same period.
“Chinese enterprises can also benefit from Singapore’s position as a global wealth management hub and overseas RMB centre, while leveraging our strategic location in ASEAN as a springboard into the one of the world’s fastest growing regions,” said SGX’s chief executive Loh Boon Chye.
Source: News Formal (newsformal.com)
Singapore always plans far ahead. Brain power and know how of those in charge cannot be denied. It is only the stupid new migrants like from India who don't know how Singapore operates since day 1. Its policies and know how.
Finally something there. Gd step
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