Wuxi, Singapore eye further cooperation

A view of Wuxi. [Photo provided to wuxi.gov.cn]

Wuxi in East China's Jiangsu province has been cooperating economically with Singapore since the 1990s when the Wuxi-Singapore Industrial Park was established in the city.

After years of development, the industrial park has become a role model of that cooperation. Taking the park as an opportunity, Wuxi has extended its relations with Singapore from the economy to education, tourism, and environmental protection.

Among these various fields, economic cooperation between the two places has yielded fruitful results.

Singapore is the main trading partner of Wuxi. In 2022, Wuxi's trade with the country totaled $4.12 billion, up 11.1 percent year-on-year.

In 2021, Wuxi Customs launched a "green channel" for agricultural products unique to Wuxi, allowing Yangshan honey peaches, Yixing lily bulbs, and hairy crabs to be delivered to the dining table of households in Singapore.

Singapore is also an important source of foreign capital for Wuxi. As of the end of 2022, Sinaporean businesses had invested $16.41 billion in 703 companies in Wuxi while as of February 2023, Wuxi companies had invested $1.06 billion in 61 projects in Singapore.

Chua Teng Hoe, consul general of the Republic of Singapore in Shanghai, said during his recent visit to Wuxi that Wuxi's industrial development is consistent with the long-term development strategy of Singapore and that both sides will have a huge cooperation opportunity in the digital economy and low-carbon.