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China poised to become Singapore's second largest trading partner by 2030 (4)

(Xinhua)

08:43, November 15, 2012

Although Singapore will continue to be an important trade hub for the South East Asia region, and exports will continue to make up around 200 percent of Singapore's gross domestic product, the maturity of the market means Singapore will gradually lose global market share to the emerging markets. But Singapore's pre-eminence within emerging Asia in electronics, pharmaceuticals and other industries is expected to remain.

In view of the reshaping of the trade routes amid growing intra- regional trade in Asia, Singapore businesses will have to grapple with a myriad of new challenges, particularly the sheer diversity and complexity of trade flows in the region that requires financing solutions flexible enough to deal with a continually shifting trade landscape, as well as to reach into new and more complex markets.

As for outlook of China's exports, demands will continue to grow rapidly over the next twenty years, according to the HSBC Global Connections. Vietnam and India will be the fastest expanding markets for Chinese products, with annual export growth of 18 percent and 20 percent respectively from 2013 to 2015.


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