Media Releases
Published Date: 27 November 2020

MAS and CBIRC Held Its 10th Bilateral Supervisory Meeting Virtually

Singapore, 27 November 2020… The Monetary Authority of Singapore (MAS) and the China Banking and Insurance Regulatory Commission (CBIRC) held their annual MAS-CBIRC Supervisory Roundtable today. This is the 10th bilateral meeting between both regulators since 2006 and the first time in a virtual meeting format via video conference.   

2.      The Roundtable was chaired by MAS’ Deputy Managing Director Mr Ong Chong Tee and CBIRC’s Vice Chairman Mr Zhou Liang. During the session, the regulators exchanged views on developments in the banking and insurance sectors, with particular focus on how their financial institutions have managed and responded to COVID-19 developments. The regulators also exchanged views on topics of mutual interest, such as green finance, supervisory framework for online distribution of financial products and regulatory sandbox practices.

3.      Mr Ong said, “The Roundtable has been a regular forum for senior staff from MAS and CBIRC to learn about developments in each other’s jurisdictions, exchange views and insights on key issues, and to strengthen our supervisory understanding and cooperation. This close partnership between MAS and CBIRC will reinforce stability and confidence as our financial institutions grow and develop in Singapore and China.”