Business / Economy

Businesses from Guangdong launch association in Singapore

(Xinhua) Updated: 2014-11-19 10:57

SINGAPORE - Leading businesses from Guangdong province in South China inaugurated a business association in Singapore on Tuesday to promote exchanges and interactions.

The Guangdong Enterprises Association was inaugurated at the 6th Guangdong-Singapore Collaboration Council (SGCC) meeting, with its members including local units of well-known Chinese firms such as Huawei and ZTE.

The association said that it aims to be a bridge facilitating the communication of the enterprises from Guangdong with local enterprises, business associations and government institutions.

Officials and diplomats at a dinner celebrating the establishment of the association on Monday evening said that they are also hoping that it would facilitate cooperation to explore the wider regional markets.

The establishment of the association came as more and more Chinese enterprises venture into the overseas markets. These include many enterprises, both private and State-owned, from Guangdong, the southern coastal province that has been spearheading the economic reforms and open-up efforts of China.

Representatives and businesses from Singapore and Guangdong inked agreements for 17 projects during the SGCC meeting. The projects span the healthcare, transportation, urban solutions and environmental services sectors.

The cooperation between China and Singapore has been growing fast over the past decades. Singapore, despite a small population of 5.5 million, is the largest investor among foreign countries, while China has become Singapore's top trading partner. Trade between Singapore and Guangdong stood at $17.9 billion last year.

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