85% of Singapore SMEs are looking to expand in China

China was Singapore's second largest partner in 2010, with total trade amounting to S$95 bn, says HSBC.

At a HSBC conference held in Singapore for companies interested in doing business in China, a survey of 111 SMEs revealed that 69% are currently doing business with China and a further 85% are looking for more business opportunities in China in the future.

Willie Tham, HSBC's Managing Director and Head of Commercial Banking Singapore, said: "China has become a rising global economic powerhouse and is a key market for Singapore's SMEs looking to benefit from China's economic growth momentum and expand overseas. China was Singapore’s second largest trading partner in 2010 with total trade amounting to S$95 billion. Singapore’s location at the heart of the fastest-growing markets in Asia makes it a unique hub within the region and an exciting market to watch as SMEs expand overseas. We continue to help SMEs in Singapore strengthen their cross-border capabilities to capture trade, investment and wealth flows from China."