Singapore is politically stable and economically developed, with a per capita GDP of $64,000 in 2018 and foreign exchange reserves approaching $300 billion. Singapore has an extremely developed financial system. It is the headquarters of more than 1,200 banks, insurance companies, and other financial institutions. It is also the third-largest financial center and the fourth largest foreign exchange trading center in the world. Singapore does not implement foreign exchange control, the currency is freely convertible, and customers can easily use a variety of currencies to choose products to invest in the global financial market, including stocks, funds, bonds, insurance and so on. Singapore has been named the world’s most competitive economy in the 2019 IMD world competitiveness rankings.