Singapore's FinTech Ecological System Construction and Its Enlightenment

Since the financial crisis, the integration of finance and technology has become a new trend in global economic development, and become a hot issue in the political, business, and academic attention. Singapore government maps out a strategy and introduces a series of policies to build FinTech ecosystem, such as financial support, establishing FinTech SUB, and implementing regulatory sandbox. Thus, Singapore will transform the existing financial system, construct the FinTech hub, and become an intelligent country of S&T and intelligent financial center. However, Internet finance in China is still at the stage of FinTech1.0 currently, which appears to be fast, slant, and disordered. So it is urgent to be transformed and upgraded. Meanwhile, we should not only be fully aware of the necessity and urgency of FinTech ecosystem development, clarify the relation between Internet financial and FinTech, but also we should learn from Singapore's advanced experience to develop the FinTech ecosystem in all aspects, for example, setting up specialized management institutions, determining specific development goals, providing financial support, promoting "Regulatory Sandbox", mobilizing domestic and international market resources, and exerting the role of the government, market, and enterprises.