17 Jul '17, 11am

"China's Lufax to Launch First Overseas Platform in Singapore" by REUTERS via NYT

SINGAPORE — Chinese online wealth management giant Lufax will launch its first overseas platform in Singapore, the company said on Monday, as a more welcoming regulatory environment gave the city state an edge over neighboring Hong Kong. Competition has been rising among governments across Asia - most notably Hong Kong and Singapore - which have launched a raft of initiatives to grab a slice of the $100 billion invested in financial technology globally. Besides Hong Kong, Lufax had also considered Australia and the Middle East for its international platform. Compared with other countries, Singapore was easy to communicate with as the Monetary Authority of Singapore acts as the single regulator for fintech, Chief Executive Officer Gregory Gibb told reporters. Continue reading the main story

Full article: https://www.nytimes.com/reuters/2017/07/17/business/17reu...

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SINGAPORE (Reuters) - Chinese online wealth management giant Lufax will launch its first overseas platform in Singapore, t...

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