Prime Minister Lee Hien Loong set out a stance that aimed at appealing to the younger generation as he prepared to form a new administration.

“We have a new generation with better education, with access to social media, who expect their views to be heard and given more weight,” Lee was quoted as saying. The PAP was formed by his father, Lee Kuan Yew, who passed away earlier this year.

Reports on Lee’s comments did not mention any specific stance his administration will have on the city-state’s financial sector. In general, Singapore administrations have made its status as a financial centre a key objective. The city-state has faced headwinds, however, such as the deceleration of the Chinese economy. Its stock market faces competition from Hong Kong which late last year initiated its link with Shanghai.