Loh Boon Chye, CEO, Singapore Exchange (SGX): strengthening market connectivity; Support the internationalization of China
To achieve its five-year plan, including its “dual circulation” and “new development” strategies, China has continued to promote innovation, digital trade and sustainable development, making a significant difference in the global landscape. On October 13, Loh Boon Chye, Vice President of the World Federation of Exchanges (WEF) and CEO of the Singapore Stock Exchange (SGX), delivered a video address at the “Digital Commerce and Technology” thematic event at the 2021 World Digital Trade Conference and the Wuhan Raw Materials Fair (Hankoubei).
As a multi-asset international exchange, SGX strongly supports China’s internationalization efforts in equities, fixed income, currencies and commodities, and ultimately its economic growth, as the capital flows and trade flows are inseparable. Loh says the defining trends of our time, whether in digitization or sustainability, are borderless and collaboration is key to making the most of them.
At the same time, SGX continues to seek ways to strengthen market connectivity between Singapore and China, and Southeast Asia. SGX’s Loh believes Southeast Asia is advancing rapidly in digitization, as evidenced by a growing number of tech unicorns. Technology is another way to improve connectivity across borders and between multiple asset classes. “Digitization has the potential to transform the efficiency of capital markets and advance capital market infrastructure in Asia,” Loh said.
Loh Boon Chye said that Singapore recently announced a series of initiatives to become the main center for financing Asian companies, including the establishment of an investment fund, a growth IPO fund and the ‘improvement of its Grant for Equity Market Singapore (GEMS) program. “We continue to build a more conducive ecosystem that allows companies to develop their capital through their various stages of development, supporting Chinese companies in their global expansion. “
With the unique position at the center of the market ecosystem, stock exchanges play an important role in the economic development and sustainable society of their countries. In conclusion, Loh reiterated SGX’s commitment to support China in its journey of internationalization and looks forward to greater opportunities for collaboration and mutual success.
The 2021 Global Digital Trade Conference and Wuhan Commodities Fair (Hankoubei) in Wuhan, Hubei Province, China runs until October 26, 2021. The event attracted representatives from over from 100 countries as well as more than 10,000 traders. At the opening, 15 renowned companies and institutions from across the country signed a proposal to support the construction of a national trade logistics center in Wuhan. (fr.hubei.gov.cn)
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