SGX signs MOU with China's Suzhou Industrial Park

The MOU is set to provide quidance to potential listing aspirants as well as facilitate regulatory processes.

Singapore Exchange (SGX) on Thursday signed a Memorandum of Understanding (MOU) with the Suzhou Industrial Park (“SIP”), Jiangsu Province, to deepen its listing collaboration in China.

In this MOU, SIP will promote the listing of companies from SIP and Suzhou on SGX; provide guidance to potential listing aspirants as well as facilitate regulatory processes and approvals from relevant Chinese authorities where necessary. The MOU will pave the way for closer collaboration between Jiangsu Government and SGX to meet the business funding needs of companies in Jiangsu, according to a SGX report.

“China Jiangsu Province has a total of 21 companies listed on Singapore Exchange. This has provided SGX a good understanding of Jiangsu and its companies. Our MOU is based on this foundation. We have also facilitated the discussion between Jiangsu Financial Assistance Office and SGX, paving the way for the signing of an MOU between the two parties at this year's Singapore-Jiangsu Cooperation Council Meeting, to provide companies from SIP, Suzhou and Jiangsu with an efficient channel to access international capital,” said Mr Barry Yang, Deputy Secretary SIP Working Committee and Chairman of SIP Administrative Committee.

This collaboration with SIP, and eventually with the Jiangsu Government, underscores SGX’s continuing commitment to China.

Yan said the partnerships enable them to reach out to more Jiangsu companies on a growth path and reinforces SGX as the Asian gateway for companies seeking international capital and growth,” said Mr Lawrence Wong, Executive Vice President and Head of Listings, SGX.

SGX has also recently signed MOUs with Chongqing, Fujian, Liaoning, Shandong, Wuxi, and Zhejiang, as well as the Agricultural Bank of China.