Singapore Exchange (SGX) today signed a Memorandum of Understanding with the State-Owned Assets Supervision and Administration Commission (SASAC) of the Chongqing Municipal Government in China.

The MOU aims to promote the listing of companies supervised by Chongqing SASAC on 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 company listed on SGX.

Chongqing is one of the four municipalities in China reporting directly to the State Council. It is also been designated as one of five nucleus cities with a key role in the economic and financial development of Western China.

The collaboration with provincial and city governments augments SGX’s Asian gateway strategy to attract suitable companies to list Singapore. Prior to Chongqing, SGX has signed listing MOUs with Fujian, Liaoning, Shandong, Wuxi, and Zhejiang, as well as the Agricultural Bank of China.