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At least five large firms from China’s mainland and Hong Kong have signaled intentions to launch on the Singapore Exchange (SGX) over the next 12 to 18 months. These businesses include a Chinese energy company, a healthcare group, and a Shanghai-based biotech company. The companies are also exploring share placements or dual listings. People familiar with the matter said the move is part of a broader push by Chinese firms to gain a foothold in Southeast Asia. They attempt to find alternative markets as the trade war between China and the United States rages on. The US and China have long been locked in a tit-for-tat tariff war. Towards the peak of the trade war, the US slapped tariffs of up to 145% on certain Chinese goods while China issued tariffs of up to 125% on American imports. Although the two sides recently agreed to a temporary 90-day break, questions linger about the future of the trade relationship. Analysts say this uncertainty is leading Chinese companies to seek new gateways to global markets, with Singapore rising to the top of the list. Singapore Exchange draws major Chinese firms for listings The Singapore Exchange has been unable to contest Hong Kong’s reign of listing the best and most profitable IPOs. So far this year, SGX has seen just four listings. In comparison, 71 new listings have been issued in Hong Kong since the start of 2024 (which still holds its title as the largest market in Asia for IPOs). Jason Saw, head of investment banking at CGS International Securities, said that Chinese interest could change the current situation. He explained that after the US raised tariffs on China, inquiries about Singapore Exchange (SGX) listings had “shot through the roof.” Pol de Win, senior managing director at SGX, echoed the sentiment, adding…

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Filed under: News - @ May 19, 2025 5:29 am