From trade to trains, China and Singapore boost their economic ties

From trade to trains, China and Singapore boost their economic ties

The two countries recorded US$66 billion in two-way trade last year, representing 13 per cent of Singapore’s global total, Industry Week reported.

Singapore is also China’s second-largest investor, with US$6.18 billion invested in the country last year, according to official Chinese data.

On Tuesday, when Singapore’s Prime Minister Lee Hsien Loong began a three-day trip to China, the two countries signed a memorandum of understanding to work together to help businesses resolve disputes that may arise under Chinese President Xi Jinping’s “Belt and Road Initiative”.

Here are five key areas where trade and economic ties are developing.

SCMP

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