SBF to lead 84 companies for the 2nd China International Import Expo (CIIE)
- 1600m2 of exhibition area in Trade in Services, Food & Agricultural and Sci-tech Life halls, an increase of 12 per cent from last year.
- Showcase of a wide range of innovative, high-quality and reliable products and services from Singapore
- Tailored business-matching activities to promote collaboration between Singapore and Chinese enterprises
Following Singapore’s successful participation in the inaugural CIIE in 2018, SBF is leading a larger and more diverse delegation to CIIE this year. Spanning the logistics and transportation, finance and banking, education, healthcare, F&B and high technology sectors, the Singapore delegation will showcase a wider range of innovative, high-quality, and reliable products and services to cater to the rising demand of the Chinese market. One-third of this year’s CIIE participants are past exhibitors of CIIE.
Occupying a total exhibition area of 1600m2 this year, an increase of 12 per cent from last year, Singapore companies will have a prominent presence at the Trade-in Services, Food & Agricultural and Sci-tech Life halls.
Exhibitors include DBS Bank, GeTs Global, United Overseas Bank (UOB), Pacific International Lines (PIL), PSA International, Singapore Airlines, OSIM, Tai Hua Food Industries, City Satay, YCH Group, among others.
Since 2013, China has been Singapore’s largest trading partner, and Singapore has been China’s largest foreign investor.1 In 2018, Singapore and China’s bilateral trade relations deepened with the upgrade of the China-Singapore Free Trade Agreement (CSFTA) which was concluded in November 2018, opening up new possibilities for cooperation in the fields of finance, e-commerce, technology, culture, legal and environment, enhancing bilateral trade and investment while jointly building up the “21st Century Maritime Silk Road.”
Bilateral trade in goods between the two countries reached SGD135 billion in 2018. Singapore has also become China's second largest foreign investment destination as the country’s non-financial direct investment in Singapore grew by 11 per cent in 2018, totalling up to USD3.55 billion.2
SBF Chairman Mr. S.S. Teo said, “The first CIIE saw successful outcomes for many of our companies with the signing of 15 MOUs, valued at more than SGD152 million. This year, I’m heartened see even more Singapore companies, showcase their innovative products and services and deepen their network and collaboration with China and the world.
With their commitment to high quality standards, Singapore companies with their strong branding, are well positioned to introduce differentiated products and services to China's huge and growing domestic market. CIIE is a showcase of Singapore not just to China, but the world. We also welcome Chinese companies to tap Singapore’s connections and familiarity with Southeast Asia to expand their operations in the region.”
Initiated by Chinese President Xi Jinping in May 2017, CIIE reaffirmed China's commitment to opening up and facilitate a more open and inclusive world economy. Last year’s event saw 3,600 companies from about 170 countries and regions transacting with some 800,000 domestic and foreign buyers and visitors, resulting in more than US$57 billion worth of trade deals signed.
Among the Singapore companies hoping to expand their footprint in China is OSIM. Ms Mindy Wang, First Deputy CEO, OSIM says, “Celebrating our 40th anniversary this year, OSIM is the global leader in branded healthy lifestyle products, focusing on the well-being of consumers. OSIM first set foot in China in 1993, opening its first store in Beijing. OSIM is looking forward to participating in CIIE 2019, as a part of its plan to expand its brand presence beyond China’s Tier 1 and 2 cities.
First-time exhibitor Mr Sunny Koh, Managing Director of Chinatown Food Corporation Pte Ltd says, “China is a big market for global food products. l hope Chinatown Food's participation in CIIE 2019 will strengthen our brand and distribution networks. We also hope to secure new distributors or wholesalers in provinces where we currently do not have presence.
United Overseas Bank, which participated last year, is looking forward to yet another successful event. Mr Peter Foo, President and Chief Executive Officer of UOB (China), said, “This is the second year that UOB has participated in the CIIE which is an important forum for making business connections and deepening relationships. Last year, UOB launched our China headquarters building while this year, we will showcase our connectivity, cross-border banking services and solutions and FinTech ecosystem partnerships for companies, institutions, high net-worth individuals. Our people, who are experts in emerging industries and cross-border business expansion, will also be on hand to facilitate enquiries onsite. In addition to onsite activities, we are also planning a series of business and cultural exchange programmes during the CIIE period to foster greater cross-border connections.
Capturing New Growth Opportunities with Tailored Business Activities
Additionally, SBF will continue to collaborate with the Bank of China Singapore Branch to organise an exclusive business-matching event as a platform for Singaporean and Chinese enterprises to foster dialogue and partnerships throughout the event. On 6 Nov, SBF will host a Dialogue session with Singapore’s Minister for Trade and Industry Chan Chun Sing, along with business pitching and networking sessions.
“As the sole financial service partner of SBF, Bank of China Singapore Branch looks forward to actively engaging Singapore companies in the business-matching sessions with Chinese enterprises. Coupled, with the bank’s comprehensive financial service solution, Bank of China Singapore Branch hopes to bring together companies from both sides to engage in multiple one-to-one negotiations and explore business opportunities. This will serve to promote and enhance trade development between China and Singapore, allowing both countries to benefit from the global economic growth.” said Mr. Hu Xinquan, Deputy General Manager of Bank of China Singapore Branch.
With CIIE approaching, SBF, with the support of Enterprise Singapore, is honoured to spearhead and facilitate Singapore companies’ participation at CIIE in partnership with various trade associations and chambers. The Federation will also launch a mini programme on WeChat, which gives Chinese companies an easier way to interact and network with the Singapore delegation, enhancing access and exposure for our exhibitors.
In addition to executives from SBF and Singaporean enterprises, high-level Singaporean government officials will also attend CIIE, highlighting the country’s commitment to building bilateral relations, boosting collaboration in Belt and Road Initiative, as well as the critical importance of CIIE.”
Please refer to the Chinese version of this media release here.