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China leapfrogs West as new fintech epicentre

China is the ‘new’ global hub for fintechs, due to the speed, sophistication and scale of development in the country, say DBS and EY, whose new report ranks the Middle Kingdom ahead of the US and UK. Regulatory push Neil Cross, DBS’ chief innovation officer, says that China’s fintech ecosystem has benefited from the “sandbox-like” environment and “favorable government policies…

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