Singapore, Shanghai strengthen financial ties

The Investment Management Association of Singapore (IMAS) and the Asset Management Association of Shanghai (AMAOS) have inked a Memorandum of Understanding (MOU) to bolster cross-border cooperation. This alliance focuses on five key areas: participation in asset management events, sharing of industry research, exchange of market intelligence, creation of innovative training materials, and exploring mutual collaborations. This move builds on the Monetary Authority of Singapore’s 2020 initiative of setting up a representative office in Shanghai. Carmen Wee, CEO of IMAS, highlighted Singapore’s increasing role as a hub for Chinese financial institutions and envisioned the MOU as a gateway for growth, benefiting both Asian financial giants and the broader region.