Singaporean bank DBS receives bond settlement agent license in China

Source: Xinhua| 2020-01-15 00:34:44|Editor: yan
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SHANGHAI, Jan. 14 (Xinhua) -- DBS Bank (China) Limited has received its bond settlement agent license from the People's Bank of China to act as a bond settlement agent in the China interbank bond market, the company said.

The bank is the first and currently the only Singaporean bank to be granted such a license.

DBS's securities services are a leader in the Singapore market and the largest in Southeast Asia, according to Kyle Tan, head of DBS China Treasury and Markets, adding that the bank's institutional investors have distinctive characteristics with regard to investing in Asian assets.

"DBS Bank is very pleased to be the first Singaporean bank to receive the bond settlement agent license. The China bond market is the largest bond market in Asia and the second-largest in the world. It is constantly opening and attracting the attention of international investors," said Neil Ge, CEO of DBS China.

Chinese authorities announced new rules in October to make it easier for overseas institutional investors to invest in the interbank bond market.