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Has Singapore really panicked after the implementation of Hainan policies?

On second thought, not really. Singapore's logic is very clear: "Thanks to Hainan for taking on manufacturing, I will continue to be a financial hub, collect tolls, and enjoy the premium of an international financial center."

The two cities are actually playing different games—

What is Hainan doing? Processing value-added, establishing a free trade port, and competing for mid-to-low-end supply chain reconfiguration.

And Singapore? It is not competing for that at all. They focus on high-end finance, international settlement, and pricing power in bulk commodities. The overall landscape is completely different.

So this is not a binary choice, but market segmentation. Hainan's policy dividends are adding to the track, while Singapore is upgrading its financial services system. The real anxious ones are actually those content accounts that write clickbait headlines—just traffic anxiety. 😂

The market landscape is being reshaped, but it is not a zero-sum game.