Singapore Businesses Show Strong Interest in China with Largest Overseas Business Delegation since COVID-19
Tuesday, 2 November 2021 [Singapore and China] - China remains a top business destination for Singapore companies. Despite ongoing travel restrictions, the Singapore Business Federation (SBF), supported by Enterprise Singapore, is leading a business delegation of 45 Singapore companies to participate in the 4th China International Import Expo 2021 (CIIE), which will be held from 5 – 10 November 2021 in the National Exhibition and Convention Centre (NECC), Shanghai.
The theme of the Singapore Pavilion at CIIE this year is “Singapore-China: Seizing New Opportunities Together” (“新中合璧 共拓商机”), highlighting the strong, symbiotic partnership between our countries. This year’s Singapore Pavilion occupies over 1,250 sqms of exhibition space across three main exhibition halls: Trade in Services, Food & Agricultural Products, and Consumer Goods. Singapore businesses have featured prominently at CIIE since the inaugural CIIE in 2018, and they have established a strong reputation for providing innovative, reliable, and high-quality products and services.
Mr Lim Ming Yan, Chairman of SBF said, “With the gradual economic recovery, Singapore businesses are eager to seize new opportunities for growth. China remains a top priority market for Singapore businesses, and CIIE is a key platform for them to connect with new customers and suppliers to diversify and expand their business. Singapore businesses are well-positioned to serve the growing demand of Chinese consumers for differentiated products and value-added services. We are excited to lead Singapore businesses to CIIE again this year and look forward to our companies securing more deals and partnerships.”
In addition to the exhibition, SBF will also organise a series of specially curated business activities, such as the Singapore-China Trade and Investment Forum (SCTIF) on 6 November 2021, as well as business pitching and business matching sessions targeted at business leaders, government officials and policy makers. There will also be influencer live-streaming of Singapore Pavilion exhibitors held across two days, which will give Singapore exhibitors the opportunity to engage and sell to a wider pool of online audiences by riding on the popularity of live-streaming eCommerce in China.
To complement the physical showcase, SBF launched a Singapore Virtual Pavilion digital solution. The digital solution platform will feature Singapore exhibitors and their solutions. It will also host live broadcast of the SCTIF, livestreaming and business matching. This will allow Singapore exhibitors to conveniently engage with the prospective buyers and clients from China and the region online, and share their innovative product and service offerings.
At CIIE 2020, Singapore businesses secured more than 21,000 business leads, achieved more than $1.7 million of confirmed sales, more than $5.3 million of sales under negotiation, and a pipeline of more than $103 million expected over the next year. This year, about 60 per cent of the exhibitors are repeat participants of CIIE. These include companies from logistics, transportation, finance and professional services, among others. Notably, this year’s delegation also includes companies in sectors such as urban solutions, novel food products and supplements, health and personal care, which highlights the strengths of Singapore companies in research & development and innovation.
Mr S.S. Teo, Executive Chairman, Pacific International Lines (PIL), a repeat participant at CIIE said, “We are proud to be part of CIIE again this year. This will mark the fourth time PIL is participating in this Expo. As one of the first foreign shipping lines to enter China, we would like to convey our continued commitment to supporting strong Singapore and China economic relations. We recognise that the CIIE is an important platform for Singapore companies to showcase our products and services, and to explore collaborations with Chinese and international companies. We hope that through our participation, we can strengthen our existing ties and forge new relationships with companies and organisations in China and the world.”
Mr Alan Zhang, Co-Founder, Easy M Smart Technologies, explained why the company has decided to participate in CIIE this year. “Being a first-time participant at CIIE, we believe we can explore more international markets and increase knowledge exchange. As a company working in AI technology and new retail, with a focus on AI-powered vending machines, we are excited to see what types of partners and business exchanges we can generate at CIIE.”
To provide greater value-added services such as cross-border financing to Singapore exhibitors, SBF has also expanded its collaboration with Financial Service Partners. It is partnering the Shanghai Pudong Development Bank (SPDB) Singapore Branch for CIIE this year, in addition to the existing collaboration with the Bank of China (BOC) Singapore Branch which started in 2018.
Mr Liu Chao, Deputy General Manager of Bank of China Singapore Branch said, “This year marks the 85th anniversary of the establishment of the Bank of China Singapore Branch, and our new slogan, ‘a heritage of trust, a legacy of support’, demonstrates our confidence to deepen our business development in Singapore. This year, Bank of China Singapore Branch will continue to collaborate with SBF closely, to provide customised, one-stop comprehensive financial solution for the exhibitors, and offer business matching services through both offline and online platforms, with the aim of helping more exhibitors achieve the objective of ‘turning their exhibits into merchandise and exhibitors becoming investors’.”
Mr Xu Jun, General Manager of Shanghai Pudong Development Bank, Singapore Branch said, “SPD Bank Singapore Branch is privileged to work with SBF as its financial service partner to support CIIE in Shanghai. Positioning Singapore as our key regional market in 2017, the Branch has been committed to delivering a comprehensive suite of customised financial services to our corporate and private clients across SEA countries. As one of leading Banks from Shanghai, we hope to continue working with SBF to facilitate the robust exchange of businesses and financial expertise between Singapore and China, while working in tandem with the Singapore government to foster a tech-driven, inclusive and green financial ecosystem.”
You may refer to the following press releases.
1. Bank of China Singapore Branch is working jointly with the Singapore Business Federation (SBF) to promote the development of China International Import Expo (CIIE) 2021
2. Shanghai Pudong Development Bank Singapore Branch partners Singapore Business Federation to create cross-border opportunities for local companies
3. Tencent Cloud partners with Singapore Business Federation to provide integrated smart conference solution for Singapore Exhibitors at the China International Import Expo 2021