The Singapore Exchange Limited (SGX) and Agricultural Bank of China (ABC) have signed an agreement to establish the first formal cooperation to promote SGX as the Asian listing hub for China companies.

Under the memorandum of understanding, both parties will form a channel of information exchange on listings matters. The key objective is to promote SGX as the Asian listing platform to Chinese companies through ABC’s network in China, including organising seminars on listing requirements for these companies.

Hsieh Fu Hua, CEO of SGX, explains: “The collaboration with ABC underscores SGX’s continuing commitment to the China market. The agreement enables SGX to leverage ABC’s extensive branch network and reach a wider audience of companies seeking to raise international funds efficiently. It complements our strategy to promote SGX as the Asian listing hub for China companies.”

Yang Kun, senior executive vice president of ABC, adds: “The signing of the strategic cooperation memorandum with SGX will definitely push our already strong working relationship to a new height. This is not only a very important occasion for us at ABC, it also represents an important milestone for both parties to further enhance our cooperation."

ABC hopes that this cooperation will enable the bank to provide value adds to its clients as well as better levels of service. Yang describes the agreement as "not just a win-win situation for SGX and our bank, it is also a “triple-win” victory for SGX, ABC and our customers".