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Singapore licenses first Chinese fintech firm, heating up competition with Hong Kong

  • Tue, 18 Jul 2017 01:11
China’s second-largest peer-to-peer lending platform, founded by the Ping An Group, has been granted a licence to operate in Singapore, giving the city a leg up in its competition against Hong Kong in attracting investments to nurture financial technology and innovation. Lujiazui International Financial Asset Exchange, or Lufax, the P2P lender that Ping An established in 2011, was given the green light to launch an international wealth management platform by the Monetary Authority of... South China Morning Post - China Business feed


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