Yesterday, three agreements were signed by financial institutions in Singapore and Chongqing.

Singapore will look to deepen its ties with Chongqing in a bid to spur both markets' financial services sectors. 

Regulators and private sector participants in the city-state and major southern Chinese city are hoping for “deeper financial collaboration” between the two, in areas including asset securitisation, insurance and risk management solutions to support investment. 

Yesterday, three Memorandums of Understanding (MoUs) were signed by financial institutions in Singapore and Chongqing during the second Singapore-China Financial Conference in Chongqing.

“This will promote a market oriented financial industry, increase efficiency in allocating financial resources and achieve greater and more effective integration between the Western Region of China and Southeast Asia,” said Liu Guiping, vice mayor of Chongqing, said.