Singapore exchange to list RMB equities

Last year, the China Securities Regulatory Commission lowered the threshold for enterprises hoping to launch IPOs overseas, to encourage more foreign capital into the industrial economy.

Currently, 614 companies are waiting to launch IPOs in the mainland stock market, after the CSRC suspended approvals in September.

Analysts have said that the current shortage in investment money may drive more Chinese companies to raise much-needed cash overseas.

"More Chinese enterprises are preparing for issuing bonds to raise funds, besides those stock listing. And 107 bonds were issued in Singapore Exchange, raising about $50 billion in the first three months," said Bocker.

So far, Singapore Exchange has listed shares for 140 Chinese companies with a market value of 230 billion yuan ($37.1 billion).

It has also launched the trading of 150 Chinese corporate bonds, mostly denominated in dollars, which have raised about 370 billion yuan. It has listed 60 renminbi-based bonds amounting to 84 billion yuan.

Singapore became the first financial center outside China to have a renminbi clearing bank on April 2, when the Industrial and Commercial Bank of China started clearing offshore renminbi-denominated trade in the republic.

Singapore Exchange and China Financial Futures Exchange, or CFFEX, signed a memorandum of understanding on Wednesday to cooperate in the derivative markets in both countries.

"Our strategic goal is to establish a world class exchange, which can draw from overseas markets and cooperate closely with our international peers," said Rong Zhiping, the deputy CEO of CFFEX.