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Shanghai FTZ will benefit S'pore: PM Lee

It will offer new opportunities to our financial institutions and beyond, he says

THE likely move to make Shanghai a free trade zone (FTZ) will not be a threat to Singapore as a financial hub, but an opportunity, according to Prime Minister Lee Hsien Loong.

"It will be mutually beneficial and will offer new opportunities to our financial institutions and beyond," he told Nanfang Daily, a leading newspaper in Guangzhou.

Mr Lee, who arrived in this capital city of Guangdong on Thursday, said: "Financial institutions in Singapore do a lot of business with other leading financial centres...

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