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Friday, April 29, 2016
Singapore Gradually Replaces Hong Kong as Financial Center
ANBOUND

On April 25, China Construction Bank (CCB) and International Enterprise Singapore (IE Singapore) signed a memorandum on infrastructure strategic cooperation on Belt-Road Initiative. CCB will provide S$30 billion (approx. US$ 22.2 billion) financial support for Chinese and Singaporean businesses registered in Singapore involving in infrastructural construction for the Belt-Road Initiative. Anbound's research team suggests that Hong Kong’s participation in the Belt-Road Initiative is slightly lagging behind Singapore. Hong Kong should feel more pressures and working towards gaining more economic benefits and development opportunities through the Belt-Road Initiative.

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