China's fintech clampdown unlikely to affect S'pore firms; could lead to more investments, regional expansion: Observers

The clampdown is also unlikely to affect Singapore fintech firms' expansion plans in China. PHOTO: AFP
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SINGAPORE - China's fintech clampdown will probably have a limited impact on Singapore, although it could encourage investors to pivot here and local fintech companies to expand their footprint in the region.

On Wednesday (Nov 11), China's top banking watchdog called for fintech firms to be subjected to the same supervision and risk management requirements as banks. It had laid out detailed regulations aimed at curbing anti-competitive behaviour for the first time on Tuesday.

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