CCB Singapore’s Growth and Green Finance Initiatives
The China-Singapore trade relationship is booming, with cross-border yuan settlement doubling CCB Singapore’s market share locally over the past two years. This growth is fueled by opportunities from the Regional Comprehensive Economic Partnership (RCEP) between 15 Asian nations, including China.
CCB Singapore has established itself as a key player in both markets, serving as a bridge for Chinese firms in Singapore and Singaporean companies looking to access China’s vast market. According to Ms Sun Nianbei, General Manager at CCB Singapore, the bank prioritizes green finance and fintech innovation to boost economic cooperation between the two countries.
In line with the global shift towards more climate-conscious practices, CCB Singapore has also made significant strides in green finance. The bank has participated in green bonds issuances and renewable energy projects, allowing companies to contribute to environmental sustainability while pursuing growth opportunities.
In April 2024, CCB Singapore partnered with Gprnt, an environmental, social, and governance (ESG) data platform launched by the Monetary Authority of Singapore. This collaboration aims to help SMEs in both countries reduce carbon emissions and secure transition financing by enhancing ESG data sharing and standardizing assessment frameworks.
In May 2024, CCB Singapore joined a group of five banks led by DBS to provide S$300 million to Terrenus Energy, a Singapore-based clean energy solutions provider. This green loan will fund one of the largest renewable energy projects in Singapore to date – the installation of solar panels on 1,200 public housing blocks, 57 government sites, as well as commercial and industrial facilities.