Singapore urges companies to exploit China consumer boom

Shipments to China seen to surge.

According to a report by Bloomberg, Singapore is encouraging companies to expand in China to tap rising consumption in the world’s second-largest economy as President Xi Jinping sustains efforts to reduce his country’s reliance on investment and exports.

The island’s shipments to China will probably increase as a share of total exports, driven by consumer goods, infrastructure, logistics and energy, said Seah Moon Ming, chairman of the trade promotion agency known as IE Singapore. Seah, who also heads an energy supply and trading company, will lead a business delegation to Shandong, China this week in his first overseas mission as head of the agency.

Read full report here.