Singapore Business Federation (SBF) announced on Wednesday that it is looking forward to an even more enthusiastic response from the Singapore business community towards the second edition of China International Import Expo (CIIE).

The business chamber led the largest and most diversified delegation from the Association of Southeast Asian Nations (ASEAN) to the inaugural CIIE last November.

The business chamber said in a press release that it expects to lead an even larger and more diverse delegation for the second edition of the CIIE, which will be held on November 5-10 this year in Shanghai.

SBF added that it has booked over 2,000 square meters of exhibition space for its delegation of this year, a 40 percent increase from last year's 1,425 square meters, and the delegation will focus on sectors such as services, food and agricultural products, and consumer goods.

SBF Chairman Teo Siong Seng said at a press conference held on Wednesday in Singapore that the inception of the CIIE has accelerated the pace of economic transformation in China, and stimulated inclusive development for trading partners, thereby benefiting the global economy.

"The increased consumer purchasing power in China remains the biggest attraction for Singapore firms who wish to deepen their market penetration in Asia, and there is continued demand for high quality goods and services," he said.

Zhong Manying, Economic and Commercial 

Minister-Counsellor of the Chinese Embassy, said that the Chinese market shows strong demand and is entering the fast lane of consumption upgrade at present. She said that China's imported goods and services are estimated to exceed 30 trillion and ten trillion U.S. dollars respectively in the next 15 years, which brings great market prospects.

"We look forward to more Singapore businesses paying close attention to the CIIE, making use of this great platform to follow the market, and promoting Singapore's products to China and the globe," she added.