The Monetary Authority of Singapore (MAS) and the People’s Bank of China (PBC) have reaffirmed their commitment to strengthening collaboration in green and transition finance at the third meeting of the Singapore-China Green Finance Taskforce (GFTF), held in Singapore on 10 July.
This marked the first time the taskforce met in Singapore, bringing together over 40 public and private sector representatives.
Discussions focused on aligning green finance taxonomies, encouraging cross-border capital flows, and using technology to support decarbonisation.
The taskforce operates through three workstreams led by both public and private sector players, aimed at scaling up green and transition finance between Singapore, China and the region.
MAS and PBC are working to enhance the interoperability of taxonomies following the launch of the Multi-Jurisdiction Common Ground Taxonomy (M-CGT) in November 2024.
In June 2025, OCBC Bank (China) arranged China’s first M-CGT aligned green syndicated loan for Shudao Financial Leasing (Shenzhen) Co. Ltd, reflecting early market adoption.
Both regulators are also advancing discussions on criteria for transition activities and a shared approach to support cross-border investments.
Singapore Exchange and China International Capital Corporation continue to collaborate on the Green Corridor, which aims to facilitate green financing between both countries.
Marketing roadshows have generated interest from Singapore-based issuers, particularly in issuing green panda bonds and aligning debt financing with the M-CGT.
Beijing Green Exchange and Singapore-based MVGX shared updates on a carbon accounting and decarbonisation rating platform.
The initiative aims to demonstrate how technology-enabled emissions monitoring can help financial institutions in both countries provide green financing solutions to their clients.
The meeting also explored potential cooperation in biodiversity and nature finance, as well as opportunities in Shanghai’s green finance development and transition journey.
Gillian Tan, Assistant Managing Director at MAS and co-chair of the taskforce, said,
“The GFTF has developed into an important platform for both public sector and industry experts from Singapore and China to collaborate and work hand-in-hand to shape bold and impactful initiatives.
The GFTF remains committed to jointly develop concrete and tangible solutions to accelerate the growth of sustainable finance to support real economy needs for Asia’s net zero transition.”
Featured image: Edited by Fintech News Singapore, based on image by rachenzero via Freepik
