Singapore - Singapore Exchange (SGX) said it enhanced its ties with China by entering into a Listing Memorandum of Understanding with the Shandong Finance Office that will lead to the listing of more Shandong companies.
Shandong Finance Office is the government body which drives the
financial development of the province and helps Shandong
businesses in their structuring and fund-raising plans.
With a population of more than 95 million people, Shandong is one of China's most populous and affluent provinces with natural resources including precious metals, gems and oil, and also significant manufacturing businesses.
Of the 144 Chinese companies listed on SGX, 17 are from Shandong, making it one of the top three originating provinces for such companies.
"The Shandong Finance Office has a good working relationship with SGX and this MOU will further facilitate our joint effort to assist more suitable companies from Shandong to tap the capital market in Singapore," Sun Xianqing, vice director of the Shandong Finance Office, said.
"We look forward to a closer working relationship to help more Shandong companies understand our market environment and offering so as to enable them to tap the Singapore capital market," Lawrence Wong, head of listings at SGX, said.
Today's MOU adds to other SGX partnerships with Chinese provincial and city governments to attract companies in China to list in Singapore. SGX also has MOUs with Chongqing, Fujian, Jiangsu, Liaoning, and Zhejiang, as well as the Agricultural Bank of China.