Singapore is top destination for Chinese firms expanding overseas, says JLL

By Bong Xin Ying / EdgeProp | April 24, 2018 4:59 PM SGT
Chinese businesses are now expanding their global footprint through targeting emerging markets, acquiring overseas firms and making strategic investments in new technologies, real estate consulting firm JLL says in a report.
Among the global network of cities, leading the pack for Asian markets is Singapore as the top destination for mainland firms expanding overseas.
“Not only is it Asia’s most stable and transparent market and a global financial services hub, Singapore also carries strong links to China and is geographically well-placed to act as a gateway into Southeast Asia,” explains Tay Huey Ying, head of research & consultancy for JLL Singapore.
Tokyo and Seoul came in close at second and fifth places respectively. Jakarta is ranked 6th, with Bangkok at 10th place, and Delhi following behind at 13th.
China’s largest companies are leading the charge overseas and emerging as some of the world’s most innovative brands. In terms of scale, Baidu, Alibaba, and Tencent rival Google, Amazon and Facebook. Hardware giants like Huawei, ZTE and Lenovo have become some of China’s most internationalised firms.
“We’re already seeing a higher number of domestic brands, both established firms and new startups, enter the international market, with key targets in South and Southeast Asia”, says Jeremy Kelly, director of global research at JLL.