Singapore investment favors Sichuan capital

An increasing amount of investment from Singapore has been drawn to Chengdu, capital of Sichuan province in recently years, said Lawrence Wong, minister of Singapore's Ministry of Culture, Community and Youth.

Wong made the remarks last week at the ground-breaking ceremony of a residential project in Chengdu under the Singapore-based Hong Leong Group. The group has listed Chengdu as one of its strategic focuses world-wide, according to Li Yusheng, a senior official of the group.

"Singapore is one of the countries that invests most in Sichuan province," said Wong. Up to the end of 2013, the country invested a total of 482 projects in Sichuan, a combined value of $3.87 billion, he said.

The Singapore-Sichuan Hi-tech Innovation Park, located in Chengdu Hi-tech Zone, is the first hi-tech industry cluster jointly developed by Singapore and Sichuan provincial government. The park attracted a first round of investment totaling 6.7 billion yuan in February.