SINGAPORE, Sept 21, 2012 - (ACN Newswire) - Singapore Exchange (SGX) today further deepened its ties with China by signing a Listing Memorandum of Understanding (MOU) with Tianjin People's Government State-owned Assets Supervision and Administration Commission (Tianjin SASAC).
The MOU was signed by Ms Meng Ai Ying, Vice Chairman and Deputy Party Secretary of Tianjin SASAC and Ms Christine Lie, Chief China Representative of SGX, as part of the 5th Singapore-Tianjin Economic and Trade Council Meeting.
Under the MOU, SGX and Tianjin SASAC will work together on the exchange of information to support the listing of suitable Tianjin companies on SGX.
Tianjin is one of China's four municipalities administered directly by the Chinese central government. With GDP growth of 16.4% in 2011, and a population of over 10 million people, Tianjin's key industries include oil and gas, metals mining, textile and manufacturing. Four Tianjin companies are currently listed on SGX.
Tianjin SASAC is the organisation authorised by the Tianjin Municipal Government to invest and manage state-owned assets in Tianjin.
"The MOU Tianjin SASAC entered today with SGX is to foster closer ties based on the established good relationships, which will facilitate future collaboration in encouraging more state-owned enterprises in Tianjin to list on SGX," said Ms Meng.
"We are very happy on the occasion of the signing of the Listing MOU between Tianjin SASAC and SGX. This signals the strong intent of the two parties to support suitable Tianjin state-owned enterprises to venture overseas and tap the international capital market through SGX," said Ms Lie.
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, Shandong and Zhejiang, as well as the Agricultural Bank of China.
About Singapore Exchange (SGX)
Singapore Exchange (SGX) is the Asian Gateway, connecting investors in search of Asian growth to corporate issuers in search of global capital. SGX represents the premier access point for managing Asian capital and investment exposure, and is Asia's most international exchange with about 40% of companies listed on SGX originating outside of Singapore. SGX offers its clients the world's biggest offshore market for Asian equity index futures, centred on Asia's three largest economies - China, India and Japan.
In addition to offering a fully integrated value chain from trading and clearing, to settlement and depository services, SGX is also Asia's pioneering central clearing house. Headquartered in Asia's most globalised city, and centred within the AAA strength and stability of Singapore's island nation, SGX is a leading Asian counterparty for the clearing of financial and commodity products. For more information, please visit www.sgx.com.
Tel: +65 6236 8139
Email: [email protected]
Loh Wei Ling
Tel: +65 6236 8157
Email: [email protected]
Sept 21, 2012 18:35 HKT/SGT
Source: Singapore Exchange (SGX)
Topic: General Announcement
Sectors: Daily Finance, Daily News
From the Asia Corporate News Network
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