THE Chinese market remains an attractive investment destination to Singapore companies despite COVID-19 impact on the Chinese economy, said president of the Singapore-China Business Association (SCBA).

Ow Chin Seng attributes this attraction to China’s political stability, strong government support for investment, good infrastructure construction and large domestic market.

Ow voiced confidence that China’s economy will keep going up as China has formulated a series of far-sighted economic development policies.

“These policies include industrial relocation and upgrading, vigorously developing high-tech and green industries, and encouraging domestic enterprises to go abroad, which will help China’s economy develop faster and better,” he said.

China has encouraged its firms to go abroad, which has not only helped advance economic development in the countries they invest in but also made contribution to China’s economic development, he said. (Xinhua)