Xu Fangda: Singapore's economy must remain vibrant, not just an investment retirement destination | Lianhe Zaobao

Singapore's Minister for National Development, Xu Fangda, stated at the Singapore Bank's outlook conference that the Singaporean economy must remain vibrant to create quality jobs and increase wages. He emphasized that the security reputation of the financial sector should not be sacrificed for short-term gains, nor should innovation and development be hindered out of fear of risks. He pointed out that sustained economic growth is key to achieving a win-win situation for all parties, while economic stagnation will lead to a scenario of winners and losers. Xu Fangda also mentioned that regulation should adopt a proportionate management approach, accepting a certain degree of risk to promote Singapore's vitality and development