By Yuling Chen, EDITOR
On December 18, Huaxia Bank (Chongqing Branch) hosted a salon in Southwest China's Chongqing Municipality. It is themed with “Listing in Singapore: A ‘New’ Choice of Enterprises in Chongqing” in Jiangbeizui Central Business District.
The event got support from China–Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity Administrative Bureau.
Sasseur REIT, a Chongqing-based company, is listed on Singapore Exchange. (Photo from CQCB)
enterprises to list in Singapore for high-quality development
With the support of the CCI, Chongqing will pay much attention to promoting its enterprises’ listing and financing in Singapore, so as to facilitate their high-quality development.
A growing number of enterprises have focused on the financing market at abroad over recent years. One of the key tasks for the China-Singapore financial cooperation, however, is to explore ways to improve the financial openness and innovation policy system and innovative financial products. It aims to help enterprises in Chongqing and West China bring in low-cost overseas capital through domestic and international markets, as well as the two resources.
The CCI project has been launched for three years. In the financial services, more than 60 cross-border financing projects are in Chongqing, with a total amount of over USD 5 billion. Moreover, the average financing cost is about 1 percentage point lower than that in China.
Chongqing will focus more on equity financing
But the above-settled projects are mainly related to debt financing. In terms of seeking financing by listing on the stock market, enterprises still lack motivation. There is only one enterprise that has been listed in Singapore. A source from the CCI Administrative Bureau said that Chongqing will focus more on equity financing, and encourage enterprises from Chongqing and other places to be listed on Singapore Exchange.
Compared with the capital markets in countries and regions like the US and China’s Hong Kong, Singapore’s capital market has the advantages of a short listing cycle, low threshold, relatively-low listing cost, and enterprises’ strong refinancing capability after listing. The enterprises with certain scale can apply for the listing on the SGX Mainboard. While those with high-speed growth can apply for that on SGX’s “Catalist”.
For the enterprises meeting the relevant listing requirements, generally speaking, they can complete the listing for six-eight weeks.
Source: CQCB
Relevant links:
China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity
CCI-FS: Singapore Becomes 3rd Largest Overseas Country for Chongqing’s Cross-Border RMB Settlement
40 High-Tech Singaporean Enterprises Showing at Smart China Expo