Singapore's Deputy Prime Minister Yan Jinyong said that in the process of competing with other global wealth management hubs, Singapore must speed up the pace and redouble its efforts. “We have always competed with financial centers around the world,” he said at the New Economy Forum in New Delhi on Wednesday. He said that with changes in global supply chains and investment flows, Singapore's important position as a financial hub will bring more opportunities. He added that the island country continues to update regulatory rules to help develop wealth management business. Yan Jinyong said, “We act quickly, which is our advantage.”

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