Singapore, this incredible small island, is not only known for its tourism but also for its fully open and developed environment, featuring a favorable business climate, efficient government operations, extensive international networks, superior infrastructure, and relatively low tax rates. It also boasts many more prominent labels: a global shipping hub, Asia's largest transshipment port, one of the world's top three refining centers, one of the world's top three oil trading hubs, Asia's oil product pricing center, a global financial center, a WorldWay center, and Asia's Silicon Valley…
Prospering through its port and enriching the nation through commerce. Singapore has developed from having no local oil resources to becoming one of the world's top three refining centers, an international oil trading center, and Asia's oil product pricing center, achieving breakthroughs in energy strategy due to its unique geographical position. The world's three major refining centers are Rotterdam in the Netherlands, New York in the United States, and Singapore. Compared to the first two, Singapore is somewhat special; it has become one of the world's top three refining centers without large-scale natural resource production, which is indeed remarkable. Singapore's advantage lies in its early identification of its position on the global energy map, seizing the initiative in the international market. By fully utilizing its strategic location at the energy passage, it has developed the refining and petrochemical industries, rapidly becoming an important refining center in the world and an oil trading market in Asia.
Singapore is an international financial center and the country with the highest concentration of world-class multinational companies in Asia. It connects international markets across continents through free trade agreements and has a thriving transshipment trade. With a high degree of internationalization, a developed market economy, a regulated and active stock market, smooth financing channels, and a well-established free trade zone, Singapore is an international metropolis that attracts many successful individuals from around the globe. Particularly, the language and cultural environment that resonates with our country, along with convenient transportation, creates favorable conditions and a unique "low-threshold" advantage for small and medium-sized technology enterprises from our country to venture abroad, making it a rare platform for our enterprises' overseas entrepreneurship and international development.
In recent years, the close and positive cooperative relationship between China and Singapore has laid a solid foundation for our enterprises to start businesses in Singapore. The mutually beneficial cooperation between the two sides has developed rapidly, with high levels and broad fields, and both sides have a strong desire to deepen cooperation in various aspects. Currently, both sides have become important trade partners, with Singapore being China's largest trading partner in Southeast Asia and the seventh largest globally; it is also China's second largest labor market and second largest engineering contracting market overseas. Meanwhile, China is Singapore's fourth largest trading partner. Over the years, the bilateral trade volume between Singapore and China has continuously reached new historical highs, firmly maintaining the top position among ASEAN countries.
