SG, Shanghai deepen bilateral trade
Bilateral trade between Singapore and Shanghai increased by 5.4% year-on-year in the first half of 2025. Singapore has over 6,800 projects in Shanghai, totaling more than $34 billion, while Shanghai companies have over 600 projects in Singapore, with investments exceeding $10.9 billion. OCBC Bank signed a Memorandum of Understanding with Shanghai fintech firm XTransfer to enhance cross-border financial solutions for international trade and will also collaborate with Shanghai Urban Construction International to expand its market presence in Singapore and other regions.
OCBC Bank signed an MoU with Shanghai fintech firm, XTransfer.
Bilateral trade between Singapore and Shanghai rose by 5.4% year on year in the first half of 2025.
On the investment front, Singapore recorded over 6,800 projects in Shanghai, amounting to more than $34b (US$27b) whilst Shanghai companies have more than 600 projects in Singapore, with investments reaching over $10.9b (US$8.5b).
In line with this, OCBC Bank signed an MoU with Shanghai fintech firm, XTransfer, to provide cross-border financial solutions for enterprises engaged in international trade.
OCBC Bank will also partner with Shanghai Urban Construction International to expand SUCI’s presence in markets such as Singapore, Hong Kong SAR, Macau SAR, and Malaysia.
($1=US$0.77)
