Singapore and Guangdong to boost bilateral trade with new projects

The two economies signed 20 projects in sustainability, health, and agritech.

The 14th Singapore-Guangdong Collaboration Council (SGCC) meeting was held on 31 July at the China-Singapore Guangzhou Knowledge City (CSGKC) in Guangzhou to expand bilateral partnership between the two economies.

In 2023, bilateral trade between Singapore and Guangdong reached $30.9b (RMB167.7b), with Guangdong being Singapore’s top provincial trading partner for the 35th consecutive year.

The meeting reviewed seven areas of cooperation between the two economies along with the signing of 20 projects covering areas such as Sustainability & Green Economy, Health & Biomedical, and Agritech.

In the sustainability and green economy sector, Singapore companyEagle Renewable Energy teamed up with local partners to develop a 300-megawatt agri-voltaic solar and 30-megawatt-hour battery storage project in Yangjiang, Guangdong, with completion expected by late 2024. They also began a 350-megawatt rural rooftop solar project in Zhanjiang this year.

In the healthcare and biomedical sector,Singapore-based company SCG Cell Therapy signed a collaboration agreement with Guangzhou Development District Management Committee, to invest and cooperate in cell therapy cGMP manufacturing.

In addition, the China-Singapore Guangzhou Knowledge City (CSGKC) and the Singapore-China (Shenzhen) Smart City Initiative (SCI) continue to attract ventures to the GBA, including the tumor treatment center by Biosyngen and KCI.