DBS CEO welcomes China's fintech clampdown after Ant scrutiny

Mr Gupta believes it will create fairer competition with banks.
Mr Gupta believes it will create fairer competition with banks.PHOTO: BUSINESS TIMES

SINGAPORE (BLOOMBERG) - DBS Group Holdings’ chief executive welcomes the increased regulatory scrutiny of financial technology companies in China and elsewhere in Asia, saying it will create fairer competition with banks that have been subject to stricter oversight.

“Over time you will start getting a more level playing field, and you’ll start getting a proportionate and even regulatory response to all participants in the market,” Mr Piyush Gupta said in an interview with Bloomberg Television on Thursday (Nov 19).

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