Singapore's Increasing Attractiveness As An Asian Financial Center
Singapore's financial sector benefits from the government's stable political environment, sound financial regulation and continued human capital investment, particularly in emerging fields in finance. Meanwhile, political tensions in Hong Kong and rising financial centers in mainland China are causing businesses to consider branching out from Hong Kong. In this commentary, we highlight how Singapore's policy efforts and Hong Kong's recent challenges have brightened the outlook for Singapore as a major Asian financial center.Key Highlights
• Singapore's dynamic economy is supported by its role as one of Asia's main financial centers.
• Recent challenges may have diminished Hong Kong's appeal and shifted the calculus between the two cities.
• Singapore could benefit from the evolving global dynamics due to its stable regulatory framework and highly open economy.
"Singapore's ongoing efforts to deepen the financial sector and diversify the broader economy have contributed to Singapore becoming a global financial center,” said Rohini Malkani, Senior Vice President of the Sovereign Group at DBRS Morningstar. “With a long track record of political stability and prudent management, Singapore's financial sector is well-positioned to benefit from the evolving financial landscape.”
DBRS Morningstar is a global credit ratings business with 700 employees in eight offices globally. DBRS and Morningstar Credit Ratings are committed to empowering investor success, serving the market through leading-edge technology and raising the bar for the industry.
Together, we are the world’s fourth largest credit ratings agency and a market leader in Canada, the U.S. and Europe in multiple asset classes. We rate more than 2,600 issuers and 54,000 securities worldwide and are driven to bring more clarity, diversity and responsiveness to the ratings process. Our approach and size provide the agility to respond to customers’ needs, while being large enough to provide the necessary expertise and resources. For more details visit us at dbrs.com.
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