This post was originally published on South China Morning Post.
Chinese firms catch up with US companies in value added to Singapore’s economy, fixed-asset investments hit 10-year high
Chinese companies are catching up with firms from the United States in terms of how much value they add to Singapore’s economy, according to the city state’s economic planning agency, which also revealed that business-investment commitments in the trade-reliant country last year had risen to their highest in a decade.According to data released by the Economic Development Board (EDB) on Tuesday, investments secured from foreign companies last year are expected to add S$31.2 billion (US$23.4…