IMAS signs MOU with Asset Management Association of Shanghai to strengthen cross-border cooperation

On October 12, 2023, the Investment Management Association of Singapore (IMAS) and the Asset Management Association of Shanghai (AMAOS) signed a Memorandum of Understanding (MOU) to enhance cross-border cooperation. The agreement focuses on five key areas: supporting and participating in asset management events, sharing industry research findings, exchanging market intelligence and expertise, developing education and training materials, and exploring further paths for mutually beneficial collaborations.
This recent collaboration initiative between IMAS and AMAOS builds upon prior relationship building efforts of the Monetary Authority of Singapore (MAS) which established a representative office in Shanghai in 2020. Prominent industry leaders attended the MOU signing, emphasizing the importance of this collaboration. IMAS’s CEO, Carmen Wee, highlighted the significance of Singapore as a gateway for Chinese financial institutions seeking to expand their presence in Asia’s financial markets. The MOU is seen as a new era of collaboration between Singapore and Shanghai, potentially contributing to the growth of both financial centers and the broader Asian market.
According to Li Wen, President of AMAOS, the MOU with IMAS is crucial to enhance China-Singapore collaboration in asset management and the internationalization of the Renminbi. AMAOS plans to work with IMAS to further develop the asset management industry, focusing on areas like ETF index investment, ESG responsible investment, fintech, investor education, and talent development. The goal is to attract foreign investors to benefit from China’s economic growth and help Chinese investors diversify their global assets.