China is trying to erode Singapore's financial hub.

https://www.bloomberg.com/news/articles/2017-04-12/chinese-backers-said-to-plan-derivatives-exchange-in-singapore

The one-belt-one-road initiatives will definitely erode Singapore's sea hub status and this will diminish our port annual handling volumes.  China is trying to erode our financial hub status by setting up an asia pacific exchange now.  Our stock exchange is not doing well lately with many delistings and SGX has difficulty in attracting big companies to list in Singapore.  SGX will be marginalised with this upcoming China's asia exchange.