Singapore's YCH eyes key role in supply chain

YCH Group, Singapore's largest logistics conglomerate by sales revenue, plans to provide more supply chain solutions in the Asia-Pacific to become a vital link for China's regional trade and supply chains, said its top executive.

Enriched by the tangible growth of the New International Land-Sea Trade Corridor and growing trade value between China and the Association of Southeast Asian Nations, the company will build more of such future-proof supply chain solutions in the region to become a vital connecting point for China and regional trade and supply chains, said Robert Yap, the company's executive chairman.

Launched in 2017, the corridor is a trade and logistics passage that was jointly built by provincial-level regions in western China and member economies of the ASEAN. It is also one of the key projects under the China-proposed Belt and Road Initiative.

YCH Group, which operates in over 100 cities throughout the Asia-Pacific, announced two strategic partnerships with Chinese companies - Shanghai Shine-Link International Logistics Co Ltd and New Land-Sea Corridor Operation Co Ltd - during the sixth China International Import Expo in Shanghai earlier this month.

"These collaborative endeavors transcend traditional business ventures, offering innovative solutions to surmount the operational challenges of international business expansion while providing substantial benefits to Chinese companies seeking market expansion into member countries of the Association of Southeast Asian Nations," Yap said.

The value of China-ASEAN trade grew by 0.9 percent year-on-year to 5.23 trillion yuan ($732 billion) in the first 10 months of 2023, accounting for 15.2 percent of the country's total trade value, data from the General Administration of Customs showed.