Here’s what you should know today.

1. Singapore govt to give faster approvals, lower requirements for VCs

The Monetary Authority of Singapore (MAS) announced a proposal to simplify the authorization process and regulatory framework for VCs.

What is the new proposal? MAS will not demand VC managers to have directors and representatives with at least five years of relevant experience in fund management. It will also remove base capital and risk-based capital requirements, and will not require VC managers to provide independent valuation, internal audits and audited financial statements.

Read the rest of the story here.

 

2. e-Marketer survey says more Chinese e-shoppers to buy foreign products by 2020

Cross-border ecommerce in China is set to expand to a much wider population base by 2020, a survey has found. More than 15% of the Chinese population purchased goods from abroad worth $85.8 billion in 2016. The amount is expected to reach 25%-which translates into 325 million people-by 2020.

While a new cross-border ecommerce tax implemented in April will negatively affect some categories of goods, demand for foreign goods via the cross-border ecommerce channels is still expected to stay robust due to better prices compared with offline retailers.

Read the rest of the story here.

 

3. Thailand’s startup sector tipped to double in value

The Thailand Tech Start-up Association (TTSA) has predicted that the overall value of the start-up market in the country will double to more than $570 million dollars (Bt20 billion), with over 600 start-ups by the year’s end.

The main factors driving this growth are people’s increasing access to information technology, government support for innovation and start-ups, and a rise in venture capital and private-sector support.

Read the rest of the story here.

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