At the Sixth Shanghai International Finance Forum, Lian Ping said the global AI compute race is driving large-scale capital expansion by tech companies, with the world's top five tech giants likely to spend $800 billion in 2026 and $5 trillion to $7 trillion needed for AI data center construction over the next five years. He warned that circular financing, credit nesting and high-leverage ETFs could transmit financial risks across markets.
The Monetary Authority of Singapore has issued AI risk management guidelines that set out regulatory expectations for AI adoption by all financial institutions. The guidelines take effect on October 7, 2027, with phased compliance deadlines, and MAS plans to consult on additional guidance for agentic AI in 2027.
At the China-ASEAN Financial Cooperation and Development Forum on September 18, PBOC Deputy Governor Lu Lei spoke on deepening AI cooperation in finance, highlighting risks like algorithmic black boxes and model hallucinations, and proposing joint efforts with ASEAN including multilingual datasets and AI computing power sharing.