The Singapore Exchange (SGX) on Tuesday signed a Memorandum of Understanding (MOU) with the State- Owned Assets Supervision and Administration Commission (SASAC) of the Chongqing Municipal Government.

The MOU aims to promote the listing of companies supervised by SASAC on SGX, according to a statement by the SGX.

Under this MOU, Chongqing SASAC will assist SGX in its profiling efforts to its companies, provide guidance to its companies seeking a listing on SGX, as well as facilitate regulatory processes and approvals from relevant Chinese authorities where necessary. Chongqing SASAC will also lend support when requested by SGX in its supervision of such companies following their listing on SGX.

There is currently one Chongqing companies listed on the SGX.

This is SGX's first MOU with a provincial SASAC. Prior to Chongqing, SGX has signed listing MOUs with Fujian, Liaoning, Shandong, Wuxi, and Zhejiang, as well as the Agricultural Bank of China.

Source: Xinhuanet