The Straits Times/ANN
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 second MAS-CSRC Supervisory Roundtable held in Singapore on Tuesday.
The MAS and CSRC discussed regulatory developments in the derivatives markets and their respective frameworks for supervising fund managers.
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 Ong Chong Tee and CSRC's vice-chairman Fang Xinghai.
The roundtable is one of the key outcomes of Chinese President Xi Jinping's state visit to Singapore in 2015. He had called for securities regulators from both sides to hold regular high-level dialogue sessions. The inaugural roundtable was held in Chongqing, China, in April last year.
"As global capital markets become more interlinked, it is important for supervisory authorities to promote greater understanding of their respective regulatory frameworks," Ong said.
"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."