Shanghai, Singapore Ink Record 15 Agreements as Bilateral Trade Grows

The fourth Singapore-Shanghai Comprehensive Cooperation Council meeting was held in Singapore on Monday. Photo: The Maritime and Port Authority of Singapore

(Straits Times) — Local companies deepened ties with their Shanghai counterparts on Monday, with the signing of a slew of agreements across a broad swathe of sectors as bilateral trade rose.

According to official data, trade between Singapore and Shanghai grew by 8% in 2022 compared with the year before, hitting $15 billion as demand grew.

During the same period, investments worth almost $24 billion were channeled into some 6,000 Singapore-linked projects based in Shanghai.