Chinese companies significantly increased investments in Singapore last year as businesses used the city-state as a staging post to propel their global expansion.
Slower domestic growth has forced many Chinese companies to look abroad, so they have set up international headquarters in Singapore to take advantage of its position as a global financial hub and mitigate geopolitical risks.
The rise of businesses relocating to the city-state to avoid scrutiny often directed at China-based entities has become so prevalent in recent years that it has been labelled “Singapore-washing”.
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