Singapore becomes hub for Chinese tech amid US tensions
September 17, 2020 8:38 am
Some of China's biggest technology firms are expanding operations in Singapore as tensions rise between Washington and Beijing. [Source: BBC]
Some of China’s biggest technology firms are expanding operations in Singapore as tensions rise between Washington and Beijing.
Tencent and Alibaba are increasing their presence in the city-state while TikTok owner ByteDance is reported to be investing billions of dollars.
Considered neutral territory, Singapore has good ties to both the US and China.
Relations between Washington and Beijing are growing increasingly hostile, particularly over technology.
Tencent announced this week it was “expanding its business presence in Singapore to support our growing business in South East Asia and beyond”.
The new regional office is described as a “strategic addition” to its current offices in South East Asia.
Tencent’s WeChat messaging app is facing a ban this month in the US, along with TikTok, under the Trump administration’s clampdown on Chinese apps and tech firms.
Donald Trump has already imposed bans on Chinese telecoms firm Huawei.
Singapore has always been seen as a regional base for Western firms because of its advanced financial and legal system. Now it’s firmly on the radar of Chinese companies.
The political turmoil in Hong Kong and the introduction of China’s controversial national security law has seen many firms look for a more stable business environment within Asia.