SINGAPORE, Sept. 25 (Xinhua) -- Regional integration, in terms of supply chain, technology, and innovations, across countries is happening despite fragmentation concerns, which brings China closer to the Asian market and will create fresh possibilities, said a senior finance scholar on Wednesday.
"Asia is an engine for the global economy. It's important for the countries within the region to work together and have open communication," Zhang Xiaoyan, associate dean of the PBC School of Finance of Tsinghua University, told Xinhua in an interview at the ongoing Asia New Vision Forum in Singapore.
From Zhang's view, the ties between China and Southeast Asian economies reflect successful regional integration, and a "two-way interaction" is flourishing.
"Entrepreneurs from Southeast Asia are visiting China to borrow marketplace ideas and adapt them to local features. An Indonesian entrepreneur told me he went to China every quarter to learn about fresh application scenarios," Zhang said.
"Meanwhile, Southeast Asia serves as a gateway for global capital to flow into China, especially when the world's second-largest economy is restructuring to a more sustained and high-quality development pattern," she said.
"China's capital market constantly offers diversification benefits to global investors. China has solid fundamentals and the market is getting mature over time, with information disclosure and investor protection in the place. I think foreign investors, especially sophisticated investors, should carefully look into China's portfolio," Zhang stressed.
Moreover, Zhang highlighted Singapore's position to introduce capital and technologies into China.
"Singapore is open-minded about China's development and looking for a win-win situation. Developed financial market and matured legal system make the country a hub for institutional investors," she said.
Since 2013, Singapore has been China's largest source of new investment for 11 consecutive years. Singapore's actual investment in China exceeded 141 billion U.S. dollars as of 2023.
Zhang, as a finance scholar, values the role of fintech in expanding the frontier of cooperation.
"Cutting-edge technologies like artificial intelligence, large language models, and blockchain are making finance more efficient, inclusive, and safe. I am looking forward to attending the FinTech Week in Singapore later this year to learn about the up-to-date progress," she added.
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