DBS and Bank of China (BOC) have announced plans to strengthen their long-standing partnership, focusing on financial innovation to support trade and investment across the region.

Key areas of cooperation include fintech development, regional connectivity, cross-border RMB solutions, third-party market expansion, and sustainable finance.

The banks will leverage their respective strengths to deepen strategic cooperation in China and regional overseas markets, including Singapore, Indonesia, and Vietnam.

Initiatives aim to facilitate cross-border trade, support Chinese companies expanding abroad, and enable global enterprises and long-term investors to access the Chinese market.

Tan Su Shan, CEO of DBS Group, said:

“Economic and trade cooperation between China, Singapore and the region has continuously deepened, demonstrating resilience and structural growth. BOC is a long-term valued partner of DBS. Building on that foundation, this MOU symbolises our renewed commitment to support global growth, drive regional development and create more impactful collaboration.”

Ge Haijiao, Chairman of BOC, added:

“Looking ahead to the 15th Five-Year Plan period, we will continue to explore broader cooperation, enabling the international use of RMB, advancing financial innovation and green finance, and supporting intra-regional collaboration to deliver results for our stakeholders.”

Featured image credit: Edited by Fintech News Hong Kong, based on image by K8 via Unsplash