Singapore, 13 October 2023 – The Investment Management Association of Singapore (IMAS) and the Asset Management Association of Shanghai (AMAOS) signed a Memorandum of Understanding (MOU) on Thursday, 12 October 2023.
Both parties have agreed on five focal points to facilitate cross-border cooperation:
The new partnership between IMAS and AMAOS reinforces earlier relationship-building efforts by the Monetary Authority of Singapore (MAS) with the establishment of a representative office in Shanghai back in 2020.
The MOU signing was attended by prominent industry leaders, including Xie Dong, Deputy Mayor of Shanghai; Liu Jing, President of the Bank of China; Liu Feng, Secretary General of the China Banking Association; Chen Chunyan, Secretary General of the Asset Management Association of China; and Huang Jia Jun, Chief Representative of the Monetary Authority of Singapore (MAS).
CEO of IMAS, Carmen Wee commented, “We have seen the growing importance of Singapore as a gateway for Chinese financial institutions seeking to raise capital and invest across Asia’s financial markets. This MOU ushers in a new era of collaboration between IMAS and our Chinese counterparts, and could pave the way for accelerated growth for two of the largest financial centres in Asia, Shanghai and Singapore, as well as the broader Asian market. This resonates with IMAS’s ongoing effort of fostering partnership and strengthening cross-border cooperation. ”
President of AMAOS, Li Wen said, “This year marks the 10th anniversary of China’s Belt and Road Initiative, a milestone that has played a pivotal role in fostering high-level regional cooperation for China. The signing of the MOU with IMAS is a critical component of the Belt and Road initiative, as it will further deepen China-Singapore collaboration in the realm of asset management and contribute to the internationalization of the Renminbi.
To scale the development in the asset management industry, we hope to collaborate with IMAS in the field of ETF index investment, ESG responsible investment, fintech, investor education, talent cultivation, and other areas. In doing so, we hope to invite more foreign investors to enjoy the fruits of China’s economic development and enable Chinese investors to diversify their assets at a global scale.”
About the Investment Management Association of Singapore (IMAS)
The Investment Management Association of Singapore (IMAS) was founded on 22nd September 1997 by 10 major financial institutions in Singapore and has since grown to include more than 150 members. As a representative body of investment managers, IMAS spearheads the development of the industry in Singapore, by fostering high standards of professionalism amongst practitioners and creating public awareness of, and interest in the industry. We act as a forum for members, promote exemplary best practices, represent members collectively, educate investors, and improve standards of research and fund management expertise, as a collective drive to promote the investment management industry.
Media Contact
Financial PR
Tang Hong Ee / Lee Ke Wei
T: 6438-2990
E: IMAS@financialpr.com.sg
