The Monetary Authority of Singapore (MAS) and the Chinese National Financial Regulatory Administration (NFRA) convened in Suzhou, China, to reaffirm their commitment to strengthening supervisory cooperation.
The MAS-NFRA Supervisory Roundtable, held in person for the first time since 2020, took place on the sidelines of the 30th anniversary commemoration of the Suzhou Industrial Park.
Co-chaired by MAS Deputy Managing Director Ho Hern Shin and NFRA Vice Minister Zhou Liang, the discussions addressed supervisory priorities for banks operating in both jurisdictions, updates to NFRA’s insurance supervision framework, and developments in the asset management sector.
The agencies also reflected on two years of enhanced cooperation, including staff attachments, study visits, and knowledge-sharing on topics such as technology resilience, digital assets, artificial intelligence, and green finance.
Ho said,
“The regular roundtable between MAS and the NFRA demonstrates the strong relationship between both agencies, and our commitment to effective coordinated oversight of regulated financial institutions operating in both jurisdictions.
I am pleased that we can resume our exchanges in person this year, as we continue to collaborate on maintaining financial stability in our respective jurisdictions.”
Featured image credit: Edited from Freepik
