September 2020, TikTok owner ByteDance have announced plans to make Singapore headquarters in Asia. The China-based company reportedly worth USD100 Billions already has over 400 employees in Singapore. Their plan is to further invest billions of dollars and to add on hundreds of employees in Singapore over the next three years. TikTok had also moved some engineers to Singapore from China this year. It was further reported last month, that ByteDance has signed an agreement to move into a bigger office in Singapore. The lease will cover three floors of One Raffles Quay measuring over 60,000 sqft. It is definitely fantastic news for Singapore! REACTION OF MAINLAND CHINESE My best friend who has many private banking clients in China told me the reaction of his Chinese clients to this TikTok’s announcement. They said (translated from Mandarin to English),

“Singapore got talents meh? End of the day, also need the Chinese people coming over Singapore and live as expats to do the core most important jobs.

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