Increasing number of China technology firms boost local tech ecosystem

Singapore

IN ADDITION to tax contribution and job creation, the rising inflow of China technology companies enhances Singapore's position as a hub for tech enterprises, and as a draw for more foreign investment.

A report by the United Overseas Bank (UOB), PwC and the Singapore FinTech Association says that 65 per cent of the fintech funding in South-east Asia flowed to Singapore between 2015 and 2019. The total value amounted to some US$2.498 billion, putting the country ahead of Indonesia, the Philippines and Thailand.