Singapore, Zhejiang cooperate on logistics
China - China's Zhejiang province and Singapore have agreed to collaborate on infrastructure, port and logistics, business process outsourcing and environmental services.
Singapore's transport minister Raymond Lim and Zhejiang's vice governor Zhong Shan signed the agreement at the fifth meeting of the Singapore-Zhejiang Economic and Trade Council (SZETC) in Hangzhou last week.
Lim said Singapore companies doing business in Zhejiang, including Acendas, CapitaLand, Hyflux and YCH Logistics, will contribute to the province's continued growth.
The agreement also outlined plans for Meishan Island of Ningbo City to become a first-class bonded port.
Singapore is Zhejiang's 11th largest trading partner. Bilateral trade between the two reached US$2.04 billion in 2007.
- YCH Group