DBS and Bank of China deepen cooperation to scale financial innovation across the region
Partnership leverages the capabilities and reach of both banks to enable greater intra-Asia trade and investment flows
Singapore, Regional, 25 Mar 2026 - DBS and Bank of China (BOC) today announced plans to deepen their longstanding partnership and accelerate financial innovation to enable greater trade and investment flows across the region.
The memorandum of understanding was signed by Sherman Hung, Deputy CEO & Head of Institutional Banking Group of DBS China and Li Kexin, General Manager of Financial Institutions Department of BOC (seated) and witnessed by Tan Su Shan, CEO of DBS Group alongside Ge Haijiao, Chairman of Bank of China (standing). The ceremony took place on the sidelines of the annual China Development Forum in Beijing.
A key priority of the collaboration will be to advance initiatives across several target areas within the financial services industry. These include financial technology innovation, regional connectivity, cross-border RMB solutions, third-party regional market expansion and sustainable finance.
DBS and BOC will leverage their respective strengths to deepen joint strategic cooperation in the Chinese and regional overseas markets including Singapore, Indonesia and Vietnam. To facilitate greater cross-border trade flows, the partners will also support the international expansion of Chinese enterprises as well as facilitate investments by global enterprises and long-term capital investments into China.
Tan Su Shan, CEO of DBS Group, said: “Economic and trade cooperation between China, Singapore and the region has continuously deepened, demonstrating resilience and structural growth. BOC is a long-term valued partner of DBS. Building on that foundation, this MOU symbolises our renewed commitment to support global growth, drive regional development and create more impactful collaboration. We look forward to partnering BOC to strengthen cooperation in bond markets, trade finance and third-party markets, as well as facilitate the broader use of RMB, injecting new capital and innovation into regional development.”
Ge Haijiao, Chairman of Bank of China, said: "DBS is the largest bank in Southeast Asia while BOC is a driving force serving cross-border trade and financial exchanges between China and ASEAN. Both have sound cooperative relationships across the region and have engaged in close cooperation in areas including payments and settlement, debt capital markets, financial markets, trade finance, cross-border custody and digital RMB. Looking ahead to the '15th Five-Year Plan' period, both partners will continue to embrace broader cooperation and development opportunities. BOC will work with DBS to enable the international use of RMB, cultivate greater financial innovation and green finance, while jointly driving intra-regional cooperation to yield more fruitful results for our stakeholders."
About DBS
DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named “World’s Best Bank” by Global Finance, “World’s Best Bank” by Euromoney and “Global Bank of the Year” by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia“ award by Global Finance for 17 consecutive years from 2009 to 2025.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets.
DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by uplifting lives and livelihoods of those in need. It provides essential needs to the underprivileged, and fosters inclusion by equipping the underserved with financial and digital literacy skills. It also nurtures innovative social enterprises that create positive impact.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.
The memorandum of understanding was signed by Sherman Hung, Deputy CEO & Head of Institutional Banking Group of DBS China and Li Kexin, General Manager of Financial Institutions Department of BOC (seated) and witnessed by Tan Su Shan, CEO of DBS Group alongside Ge Haijiao, Chairman of Bank of China (standing). The ceremony took place on the sidelines of the annual China Development Forum in Beijing. A key priority of the collaboration will be to advance initiatives across several target areas within the financial services industry. These include financial technology innovation, regional connectivity, cross-border RMB solutions, third-party regional market expansion and sustainable finance.
DBS and BOC will leverage their respective strengths to deepen joint strategic cooperation in the Chinese and regional overseas markets including Singapore, Indonesia and Vietnam. To facilitate greater cross-border trade flows, the partners will also support the international expansion of Chinese enterprises as well as facilitate investments by global enterprises and long-term capital investments into China.
Tan Su Shan, CEO of DBS Group, said: “Economic and trade cooperation between China, Singapore and the region has continuously deepened, demonstrating resilience and structural growth. BOC is a long-term valued partner of DBS. Building on that foundation, this MOU symbolises our renewed commitment to support global growth, drive regional development and create more impactful collaboration. We look forward to partnering BOC to strengthen cooperation in bond markets, trade finance and third-party markets, as well as facilitate the broader use of RMB, injecting new capital and innovation into regional development.”
Ge Haijiao, Chairman of Bank of China, said: "DBS is the largest bank in Southeast Asia while BOC is a driving force serving cross-border trade and financial exchanges between China and ASEAN. Both have sound cooperative relationships across the region and have engaged in close cooperation in areas including payments and settlement, debt capital markets, financial markets, trade finance, cross-border custody and digital RMB. Looking ahead to the '15th Five-Year Plan' period, both partners will continue to embrace broader cooperation and development opportunities. BOC will work with DBS to enable the international use of RMB, cultivate greater financial innovation and green finance, while jointly driving intra-regional cooperation to yield more fruitful results for our stakeholders."
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About DBS
DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named “World’s Best Bank” by Global Finance, “World’s Best Bank” by Euromoney and “Global Bank of the Year” by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best Digital Bank” by Euromoney and the world’s “Most Innovative in Digital Banking” by The Banker. In addition, DBS has been accorded the “Safest Bank in Asia“ award by Global Finance for 17 consecutive years from 2009 to 2025.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets.
DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by uplifting lives and livelihoods of those in need. It provides essential needs to the underprivileged, and fosters inclusion by equipping the underserved with financial and digital literacy skills. It also nurtures innovative social enterprises that create positive impact.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.
DBS Group
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Awards
World's Best Bank 2025, 2018 - 2022
Euromoney, Global Finance, The Banker
Asia’s Safest Bank, 2009 – 2025
Global Finance
