It's unclear how enthusiastic Chinese banks will be for securities in anything other than the bubbling Shanghai market, but Singapore has joined the growing list of countries available to Qualified Domestic Institutional Investors (QDIIs).
The Monetary Authority of Singapore (MAS) and the China Banking Regulatory Commission (CBRC) have signed an agreement to supervise QDII business of Chinese commercial banks.
The QDII scheme, introduced in 2006, allows qualified Chinese banks, fund managers and insurers to invest in securities abroad.
The agreement with Singapore was expected, as previously reported in IFLR, when the PRC announced it would allow QDIIs to invest in around 20-30 jurisdictions' capital markets, though it did not specify which ones.
The regulator then...