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http://www.businesstimes.com.sg/sub/specialfocus/story/0,4574,396026,00.html?
Published July 22, 2010
SINGAPORE INTERNATIONAL
Zero in on Shandong
S'pore's brand name is well recognised, being its 7th biggest foreign investor, reports CHUANG PECK MING
CHINA is a big market. Too big for small players from Singapore to score big there. The odds are against them. So a better bet for Singapore companies is to zero in on specific high-growth Chinese provinces.
And Shandong should figure high on the list of targets. The province, on China's east coast, boasts the country's third-highest gross domestic product.
Despite a global recession, Shandong chalked up GDP growth of 11.9 per cent to RMB3.38 trillion (S$684 billion) last year - the province's 18th straight year of double-digit economic growth.
Shandong's industrial output is the second largest in China, after Jiangsu. Its top five industries are chemicals, food and agricultural product processing, textiles, general equipment manufacturing and non-metal minerals production.
The province has improved its manufacturing prowess in recent years by pooling the resources of neighbouring cities - Qingdao, Yantai and Weihai - to forge a regional base.
The Shandong Peninsular Manufacturing Base, as it is called, specialises in industries that include traffic and transport equipment, electronics, communications and home appliances, textiles and garments, pharmaceuticals and foodstuffs.
Singapore companies stepping into Shandong for the first time will not find themselves among strangers there. Other Singapore companies are already in the province, having pumped US$3.77 billion into 1,237 projects.
Singapore is, in fact, the seventh-biggest foreign investor in Shandong. And it's fast catching up with those ahead. Last year, Singapore was the third-largest foreign investor in the province, after Hong Kong and South Korea.
Published July 22, 2010
SINGAPORE INTERNATIONAL
Zero in on Shandong
S'pore's brand name is well recognised, being its 7th biggest foreign investor, reports CHUANG PECK MING
CHINA is a big market. Too big for small players from Singapore to score big there. The odds are against them. So a better bet for Singapore companies is to zero in on specific high-growth Chinese provinces.
And Shandong should figure high on the list of targets. The province, on China's east coast, boasts the country's third-highest gross domestic product.
Despite a global recession, Shandong chalked up GDP growth of 11.9 per cent to RMB3.38 trillion (S$684 billion) last year - the province's 18th straight year of double-digit economic growth.
Shandong's industrial output is the second largest in China, after Jiangsu. Its top five industries are chemicals, food and agricultural product processing, textiles, general equipment manufacturing and non-metal minerals production.
The province has improved its manufacturing prowess in recent years by pooling the resources of neighbouring cities - Qingdao, Yantai and Weihai - to forge a regional base.
The Shandong Peninsular Manufacturing Base, as it is called, specialises in industries that include traffic and transport equipment, electronics, communications and home appliances, textiles and garments, pharmaceuticals and foodstuffs.
Singapore companies stepping into Shandong for the first time will not find themselves among strangers there. Other Singapore companies are already in the province, having pumped US$3.77 billion into 1,237 projects.
Singapore is, in fact, the seventh-biggest foreign investor in Shandong. And it's fast catching up with those ahead. Last year, Singapore was the third-largest foreign investor in the province, after Hong Kong and South Korea.
