Deal Gives Chinese Banks Asian Access

An agreement with Singapore will give Chinese banks access to investments in new Asian markets, as well as new debt instruments and Islamic finance

The Monetary Authority of Singapore (MAS) says it has signed a memorandum of understanding with the China Bank Regulatory Commission(CBRC). The agreement is effectively an approval for Chinese banks to invest in Singapore's market through the qualified domestic institutional investor (QDII) programme, making Singapore the third approved market after Hong Kong and the UK.

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