Mr. Zheng Chao, Minister Counsellor for Economic and Commercial of China Embassy in Singapore, visited ABC Singapore Branch on 21 January 2016 to have a deeper insight of the Bank’s operations.

Impressed with what he saw, Mr. Zheng highlighted that while bilateral trade relations between China and Singapore remain stable in 2015, Singapore has risen to emerge as China’s No. 2 foreign investor. Sino-Sing relationship has also become a lynchpin in China’s “one belt, one road” trade strategy linking China to Europe via the Central Asia route.

During Chinese President Xi Jinping's visit to Singapore in November 2015, both leaders agreed to new round of negotiations to upgrade the FTA. In a joint statement, both sides have penciled to conclude the upgraded FTA in 2016.

As ABC Singapore Branch stepped up its preparations for the upgrading of banking licence, it will continue to enhance cross-border financial services capabilities in the region.