MAS Officially Announces Support for Chinese A-Share Companies to Secondary List on the Singapore Exchange

Recently, Singapore’s capital market has experienced a wave of “China enthusiasm” — an increasing number of Chinese companies are choosing to pursue secondary listings on the Singapore Exchange (SGX), forming a notable listing trend. Behind this momentum lies a major official announcement from the Monetary Authority of Singapore (MAS).

Official Backing and Streamlined Procedures

Last December, the Monetary Authority of Singapore announced that both Singapore authorities and the China Securities Regulatory Commission support A-share companies in pursuing secondary listings on the Singapore Exchange (SGX). A series of facilitative measures were introduced, including simplified prospectus requirements, effectively opening a smoother regulatory pathway for cross-border listings.

According to informed sources, under this framework, Chinese companies need only comply with A-share listing rules when seeking a secondary listing in Singapore, without having to fully adapt to Singapore’s local listing regulations. Procedurally, this is even simpler than listing in Hong Kong, as companies are required to follow only one primary regulatory framework.

Furthermore, SGX accepts Chinese accounting and auditing standards for such listings, significantly reducing financial reporting conversion costs and aligning more closely with Chinese companies’ existing operational practices.

Strong Corporate Response and Impressive Market Performance

Following these policy enhancements, enthusiasm among Chinese companies to list in Singapore has surged. Currently, nearly 100 Chinese companies are listed on SGX, accounting for approximately 20% of all listed companies — meaning roughly one in every five Singapore-listed companies originates from China.

Companies that have recently completed secondary listings include:

• CMS (pharmaceutical sector)

• Concord New Energy (wind power industry)

• NIO (new energy vehicles)

• Helen’s (chain tavern operator)

Many of these companies saw strong share price performance on their debut day, with several recording gains of around 10%, reflecting robust market recognition of Chinese enterprises.

Why Singapore?

1. A Strategic Gateway to Southeast Asia

Many Chinese companies are planning expansion into Southeast Asia. As a regional financial and business hub, Singapore provides access to local resources, strengthens regional credibility, and enhances the success rate of cross-border financing.

2. Diversified Financing Channels

Singapore hosts numerous sovereign wealth funds, family offices, and international investors. This enables Chinese enterprises to access a broader investor base, optimize shareholding structures, and potentially achieve more internationally aligned valuations.

3. SGD Trading as a Natural Currency Hedge

For companies with revenue or cost exposure in Southeast Asia, trading in Singapore dollars can help mitigate exchange rate volatility risks.

4. Enhanced Corporate Credibility and Negotiating Power

A listed status significantly strengthens a company’s credibility in international partnerships and bank financing. There are cases where Malaysian banks have explicitly indicated that loans would be more readily approved if the company were listed in Singapore.

A Win-Win Partnership with Mutual Empowerment

For Chinese enterprises, Singapore is not only a strategic bridge to Southeast Asia but also an important gateway to international capital, corporate governance enhancement, and brand elevation.

For Singapore’s capital market, the inclusion of competitive and high-growth Chinese companies injects fresh vitality, attracts additional global capital, and further strengthens Singapore’s position as an international financial centre.

It is therefore clear that secondary listings by Chinese companies in Singapore are not a one-sided decision. Rather, they represent a mutually beneficial outcome driven by supportive policies and aligned market opportunities. Looking ahead, as capital market connectivity between the two countries deepens, such win-win cooperation is expected to grow even stronger.

With continued collaboration between China and Singapore in the capital markets, Singapore is increasingly becoming a key bridge for Chinese enterprises expanding into Southeast Asia and connecting with global capital. More globally competitive Chinese companies are expected to step onto the broader international stage through listings in Singapore.