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Singapore steps-up investment in Liangjiang
Updated: 2015-03-09
By Ge Jieru, chinadaily.com.cn
China and Singapore have strengthened their cooperation in modern internet and modern service industries to promote the implementation of the "One Belt, One Road" initiative and the construction of the Yangtze River Economic Zone.
According to Tang Zongwei, deputy secretary of the Liangjiang New Area Party committee, 212 Singaporean enterprises have opened branches in Chongqing, making Singapore the second largest source of foreign investment in the municipality. In the last three years, Chongqing has entered the list of the Top 5 investment destinations in China for Singaporean enterprises. In 2013, the total import and export of Chongqing and Singapore exceeded $1.66 billion and Chongqing exported $1.15 billion to Singapore.
From 2011 to 2014, Liangjiang received a total investment of $480 million from Singapore, with 19 registered Singaporean enterprises settling in Liangjiang. The Singaporean enterprises that have invested in Liangjiang cover areas of finance, information technology services, architecture and manufacturing.
Edited by Jacob Hooson
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