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DBS chief welcomes China's tougher fintech rules
Increased oversight of firms in Asia could help boost fairer competition among players
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DBS chief Piyush Gupta has been upgrading technology and digitalisation in anticipation of growing competition.
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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 yesterday.
