Temasek bets big on investments in fintech sector

Singapore-based investment firm Temasek International Pte Ltd said on Wednesday that its net portfolio value in China rose to $60 billion by the end of March, compared with approximately $50 billion during the same period a year earlier.

Temasek said its global net portfolio value stood at S$308 billion ($235 billion) by the end of March, and China's share in the portfolio rose to 26 percent from 25 percent last year.

"China has carried out major reforms on adjusting economic imbalances, such as taking corporate deleveraging as a primary task, which will ensure a more healthy and sustainable economic development from a mid - and long-term perspective. The country also ramped up efforts to open up further and shortened its negative list for foreign investors," said Wu Yibing, head of China affairs at Temasek.