Forchn Holdings and Singapore firm YCH Group see complementary strengths in teaming up to expand across Southeast Asia. They hope to leverage on China’s Belt and Road Initiative to link up Asia with much of the world through massive infrastructure projects.
To underscore the potential benefits, Zhejiang province has named Singapore as one of its first three overseas stations to help its companies expand abroad. The move, recognising Singapore firms’ potential to unlock Southeast Asia for Chinese companies looking to go international, was announced in late 2017.
Singapore is the first station for the e-commerce-focused province that major Chinese firms, such as Alibaba and Net Ease, call home, with the other two stations being in Poland and the Czech Republic.