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China and Singapore will be visa-free, allowing tourists from both countries to use digital RMB for tourism consumption.

2024-03-01 Update From: SLTechnology News&Howtos shulou NAV: SLTechnology News&Howtos > IT Information >

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Shulou(Shulou.com)12/24 Report--

Thank you, CTOnews.com netizens, for your clue delivery! CTOnews.com, December 7, the Monetary Authority of Singapore (MAS) today issued an announcement announcing new digital finance and capital market initiatives to expand financial cooperation with China.

Initiatives include a cross-border E-CNY pilot between China and Singapore. Following the signing of the Memorandum of understanding on Digital Financial Cooperation (MOU) between the Monetary Authority of Singapore and the Digital money Institute of the people's Bank of China in 2020, the Monetary Authority of Singapore and the people's Bank of China are conducting a pilot project to allow tourists from both countries to use e-CNY for travel spending in Singapore and China. This will make it more convenient for tourists to shop while traveling overseas.

In addition, the two countries will launch an exchange traded fund (ETF) product link between the Singapore Exchange (SGX) and the Shanghai Stock Exchange (SSE).

The Singapore Exchange and Guangzhou Futures Exchange (GFEX) signed a memorandum of understanding. SGX and GFEX have signed a memorandum of understanding to cooperate on information exchange, exchange of visits and training and joint research in green development-related products and business areas.

In addition, according to Lianhe Zaobao, Singapore's Deputy Prime Minister and Minister of Finance Huang Xuncai revealed on December 7 that on the basis of the increasing number of Singapore-China flights, the two sides will strengthen personnel exchanges between the two countries through a 30-day visa exemption arrangement.

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