Singapore-Guangdong trade at record high

Major contributor: Visitors at an oven retailer during the China Import and Export Fair in Guangzhou, Guangdong province. Guangdong’s economy, valued at 12.8 trillion yuan (RM8.3 trillion) in 2022, is the largest in all of China’s provinces. — Reuters

SINGAPORE: Economic ties between Singapore and Guangdong remain robust, with their bilateral trade in 2022 surging to a record high and cementing the latter’s position as Singapore’s top Chinese provincial trading partner for the 34th year.

Enterprise Singapore said yesterday that the two-way trade in 2022 grew a record 17% year-on-year to US$23.1bil (RM108bil), largely driven by China’s reopening and a post-Covid-19 rebound.