| China's Guangdong province signed deals worth nearly USD 4.7 billion with Singapore in the Guangdong-Singapore Business Conference held in Singapore on September 16.
Guangdong鈥檚 Party Secretary Wang Yang led China's largest-ever delegation of about 600 local business leaders attended the Business Conference.
The whopping USD 4.7 billion worth of deals signed by Singapore firms with their Guangdong counterparts comprise 23 contracts for projects involving the energy, information technology, manufacturing, and logistics sectors.
Guangdong hoped to strengthen cooperation with Singapore in manufacturing industry and attract more Singapore capital into service industry and infrastructure as well.
Wang said, "We are also expanding power, energy, highways and other major infrastructure industries. In the next five years, we will invest USD 150 billion into these projects."
Guangdong is also willing to exchange experience with Singapore in fields such as science, education, culture, tourism and social administration.
As the biggest ASEAN investor to Guangdong, Singapore's investment in the province grew to USD 5 billion at the end of 2007. Singapore's trade with Guangdong accounts for one-third of its total trade with China. And there are still plenty of opportunities waiting to be tapped.
While in Singapore, Wang Yang met Prime Minister Lee Hsien Loong, and the two sides planned to establish a mechanism to expand the bilateral relations.
Singapore is the last station of Guangdong trade mission鈥檚 ASEAN tour. The mission went back to Guangzhou yesterday (Sept. 17).
Editor: Yan
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