Singapore vies to be springboard for Chinese firms

Singapore hopes to become a platform for Chinese companies to win the international market, said She Wenli, director of the Trade Promotion Group of International Enterprise Singapore Thursday in Singapore.

While addressing a visiting delegation of Chinese private enterprises, She said Singapore, with geographic advantages and favorable policies, will be a good choice for Chinese companies to set up their logistics transshipment base and commodity delivery point.

Singapore also hopes to become an offshore renminbi center and clearing center in the future, and the country has already made some progress, said She, without elaborating.

The tax rate in Singapore is low, with a corporate income tax rate of 17 percent and preferential tax for newly established enterprises. The highest personal income tax is 20 percent, compared with 45 percent in China.

China's trade volume with Singapore hit S$100 billion in 2011, accounting for 10.4 percent of Singapore's total trade volume.

Singapore is the third stop for Aigo Entrepreneurs Alliance's ASEAN tour. The entrepreneurs visited Thailand and Indonesia and will head for Malaysia on Thursday in their week-long tour to choose two countries from the four to set up their bases in Southeast Asia.

Aiming to help Chinese enterprises and brands to extend their reach around the globe, Aigo Entrepreneurs Alliance members will visit countries such as the US and Latin American countries in the future to get to know their investment environment and establish more overseas bases.