By Elishya Perera
SINGAPORE (CWBN)_Singapore and Shanghai committed to bolster cooperation in financial services and innovation, during the second Singapore-Shanghai Comprehensive Cooperation Council meeting earlier today (Dec 11).
Speaking at the meeting which was held virtually, Singapore’s Minister for Education and Second Minister for Finance, Lawrence Wong, said the two financial hubs could expand connectivity and cooperation in supply chain, innovation, finance and transport sectors.
“As international financial centres, Singapore and Shanghai can work together to galvanise the growth of our economies and deepen regional integration,” Wong said.
He noted that initiatives such as the development of the China (Shanghai) Free Trade Zone and the integration of the Yangtze River Delta region, puts the Chinese city on the forefront of the country’s economic growth.
He added that the registration of the Monetary Authority of Singapore’s (MAS) representative office in Shanghai is a testament to the sustainable financial collaboration between the two countries.
On transport and supply chains, the minister highlighted the fact that Singapore and Shanghai are two of the most connected cities in the world, and expressed his hopes that Shanghai would be one of the first regions which would resume air travel in China.
“With Singapore and Shanghai’s experience in managing the pandemic, both sides can exchange best practices on how to enhance our connectivity in a safe and orderly manner,” Wong said.
During the meeting, 10 memorandums of understanding (MOUs) including one between the Maritime and Port Authority of Singapore and the Shanghai Maritime University, as well as two others between the Singapore Exchange (SGX) and the China Central Depository & Clearing and Guotai Junan Securities, were signed today.
