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Ningxia Strengthens Trade Ties with Singapore
A business mission headed by an official with the Singapore Trade Development Board recently made an study tour of Ningxia Hui Autonomous Region in northwest China. The mission aimed to learn more about Ningxia's overall economic situation, investment environment and help Ningxia expand its international market through readjusting the structure of export commodities by taking the advantage of China's strategy to develop its vast western area.
Ningxia, which is home to 1.78 million Muslims, has worked out a series of new policies to encourage foreign investment over the past years. It has held business and trade promotion activities in Hong Kong to attract overseas investment.
At present, Ningxia's exports to Singapore have reached US$ 25 million, with export of medicinal herbs and drug material and rubber tyres accounting for half of the total. Ningxia has five Singapore-funded enterprises. The region also promises great potential for cooperation with Singapore in high- tech, IT, and food processing sectors.
Singapore is China's seventh largest trade partner.
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