The Monetary Authority of Singapore (MAS) and the People’s Bank of China (PBC) reaffirmed and expanded cooperation in green and transition finance at the 3rd Singapore-China Green Finance Taskforce meeting, which was hosted in Singapore for the first time. Discussions with more than 40 public and private sector participants centred on strengthening taxonomy interoperability, facilitating cross-border green financing flows, and using technology to support sustainable finance adoption. Workstreams reported progress across three areas. On taxonomies, MAS and PBC are building on the Multi-Jurisdiction Common Ground Taxonomy (M-CGT) launched in November 2024, with market adoption highlighted by OCBC Bank (China)’s M-CGT-aligned green syndicated loan to Shudao Financial Leasing (Shenzhen) Co. Ltd in June 2025; the authorities are also advancing discussions on transition activity criteria and interoperability. On products, China International Capital Corporation and Singapore Exchange continue work on the Green Corridor initiative, starting with green panda bond issuance, with marketing roadshows generating interest from Singapore-based issuers. On technology, MVGX and Beijing Green Exchange provided an update on plans to demonstrate technology-enabled emissions monitoring to support green financing solutions, alongside discussion of potential collaboration in biodiversity and nature financing and opportunities related to Shanghai’s green finance development and transition journey.

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