China’s recent measures to support its economy a positive for S’pore companies: Desmond Lee

TIANJIN – China’s flurry of measures announced this week to boost its economy is a positive sign for Singapore firms interested in China, said National Development Minister Desmond Lee.

Mr Lee is accompanied by Senior Minister of State for Foreign Affairs and National Development Sim Ann. Also on the trip is a business delegation of more than 50 representatives from 30 Singapore companies and organisations, which is larger than the delegation of 30 people with Mr Lee during his Tianjin visit in 2023.

He said they discussed how businesses and technologies can support urban renewal given an ageing population. According to the Tianjin Municipal Bureau of Commerce, Singapore has set up 1,165 foreign-invested enterprises in Tianjin, and ranks fifth overall with US$11.73 billion in foreign capital. There are about 14,000 foreign enterprises in Tianjin.

Launched in 2008, Tianjin Eco-City is the second government-to-government project between Singapore and China and now houses more than 150,000 residents, up from just 10,000 in 2012.

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