SINGAPOREAN TRADE FAIRS ENTICE FOREIGN INVESTORS FOR CHINA

SINGAPOREAN TRADE FAIRS ENTICE FOREIGN INVESTORS FOR CHINA

China's thirst for foreign investment to help build its economy is producing a seemingly endless stream of trade fairs and exhibitions in Singapore - and solid cash flow back to the People's Republic.

A Beijing trade and investment fair which just concluded resulted in agreements worth US$6.79 billion, of which US$3.83 billion represents direct investment by foreign companies, the Beijing municipal government said.China has been able to draw in funds from Singapore businessmen and foreign companies with interests in Singapore and the region.

"Foreign investors from Singapore, the United States, Japan, Germany, Holland, Australia, Malaysia, Israel, Hong Kong and Taiwan have signed up for 313 proposed projects through outright contracts, agreements or letters of intent," the statement said. The statement did not name the foreign firms.

Hardly a week goes by in Singapore without an exhibition or trade fair featuring one of China's 31 provinces or some of its innumerable industries. So far in 1993, some 70 have already been staged in Singapore, according to a spokesman at China's embassy.

"We're surprised by the good results . . . The turnout is better than we expected," said Zhou Yinliang, an official with the Beijing Municipal Foreign Economic Relations and Trade Commission.