BEIJING, Jan. 3 (Xinhua) -- China's Shenzhen Stock Exchange (SZSE) and Singapore Exchange (SGX) officially established an exchange-traded fund (ETF) link on December 30, reported Shanghai Securities News.
Fang Xinghai, vice chairman of the China Securities Regulatory Commission (CSRC), addressed at the launching ceremony, saying that the SZSE-SGX ETF link represents a good practice to deepen win-win cooperation between the capital markets of China and Singapore.
China and Singapore have accelerated cooperation in terms of capital market in recent years, with fruitful results. As of November 2022, Singapore investors under the Qualified Foreign Institutional Investor (QFII) program had added up to 78, with total investment of about 150 billion yuan (about 21.78 billion U.S. dollars), said Fang.
He added that a fund management joint venture, Suxin Fund Management Co., Ltd., a key project of Suzhou Industrial Park (SIP), has been approved to set up recently, bringing the number of China-Singapore joint securities and fund firms to seven. Meanwhile, many Chinese securities, fund and future companies have set up branches in Singapore.
Photo taken on Sept. 19, 2018 shows the Suzhou Industrial Park in Suzhou, east China's Jiangsu Province. The Suzhou Industrial Park (SIP) was established in 1994 as an intergovernmental cooperation project between China and Singapore. (Xinhua/Zhu Guigen)
Its launch is of great significance to offering investors on both exchanges with a wider range of investment options, and to deepening China-Singapore cooperation in the financial arena, according to Fang.
(Edited by Li Shimeng with Xinhua Silk Road, lishimeng@xinhua.org)
A single purchase
