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China's commercial banks are also playing increasingly important roles in promoting bilateral financial cooperation with Singapore. Take the Bank of China for example, as of late July, its Singapore branch has raised an accumulated more than 16 billion U.S. dollars of fund for financing BRI projects.
China's financial risks, instead of being pervasive, are now increasingly restrained, according to opinions at a meeting earlier this month of a financial stability and development committee under the State Council, the cabinet.
China's nascent trend in ESG-environmental, social and governance-investing appears to be alive and well despite the disruption caused by the COVID-19 pandemic.
China's financial regulators have pledged to give priority to supervision innovation including better on-site surveillance and the use of big data to improve efficiency.
China's leading energy regulator, the National Energy Administration, has made energy security a key priority in the country's new five-year plan, with focus on diversifying supplies, developing sufficient storage capacity and infrastructure and improving logistics.