In a significant move to bolster cross-border collaboration, professional bodies from Singapore and Shanghai have signed a Memorandum of Understanding (MOU) at the Sino-Singapore Forum for Empowering Enterprise Globalisation and Excellence. The agreement, signed on 15 October, involves the Institute of Singapore Chartered Accountants, the Shanghai Institute of Certified Public Accountants, the Law Society of Singapore, and the Shanghai Bar Association.
The collaboration aims to focus on three main areas: reciprocal mission trips to foster business partnerships, joint knowledge-sharing initiatives such as seminars on cross-border mergers and acquisitions (M&A) and environmental, social, and governance (ESG) reporting, and the development of a Professional Services Centre. This centre will serve as a strategic platform to integrate legal and accounting resources between the two cities.
Edwin Tong, Singapore’s Minister for Law, highlighted the importance of professional collaboration in driving enterprise globalisation. Fu’an Kong, Secretary of the Party Leadership Group, expressed excitement about the MOU, stating, “Hongqiao’s unique position as a gateway to international markets makes it an ideal base for deeper connectivity.”
The forum, organised by the Professional Services Centre, brought together representatives from accounting, legal, and business organisations. The initiative aims to create a trusted hub for professional services, enabling cross-border collaboration and access to specialised talent.
This partnership marks a new chapter in Singapore-Shanghai cooperation, positioning professional services as strategic enablers of growth and innovation. The collaboration is expected to provide enterprises with the tools needed to navigate regulatory complexities and expand confidently into international markets.
