Across China: Singaporean Businessman Eyes Further Opportunities in China
DATE:  Feb 12 2024
/ SOURCE:  Xinhua
Across China: Singaporean Businessman Eyes Further Opportunities in China Across China: Singaporean Businessman Eyes Further Opportunities in China

(Yicai) Feb. 12 -- As the Year of the Dragon begins, Singaporean Ivan Chin is eyeing further business opportunities in China.

Chin is the general manager of Tianjin Haite Aircraft Engineering Co., Ltd, a high-end aviation maintenance enterprise in the Tianjin Pilot Free Trade Zone (FTZ) in north China's Tianjin Municipality.

Recalling his first visit to China in 2009, when he was sent to expand the business of a Singaporean company he worked at, Chin said, “My proficient Chinese language earned me that chance.”

China's civil aviation industry has developed greatly since 2012 amid sound economic growth.

To realize his aviation dream, Chin in 2018 made the decision to pursue his career in China when he was hired by Tianjin Haite's parent company.

Chin's confidence in the Chinese market stems not only from the development of the country's aviation industry, but also from his long-term observation of the country's economy and society.

"I happened to witness the rapid developing period of China. I used to carry cash when I went out, but now it is very convenient to go out with just a mobile phone," Chin said, noting that booming e-commerce demand has springboarded the development of the air cargo industry.

Chin said that eyeing the business potential, Tianjin Haite focuses on passenger-to-freighter conversion.

A passenger aircraft is normally considered old after 14 years of service, he said. But after being converted into a cargo plane, it can be used for another 14 years.

The Tianjin FTZ boasts various favorable polices, including some innovative ones introduced by the local government to support Tianjin Haite's business expansion and productivity improvement. One such policy has seen the introduction of form-based declarations of overseas aircraft bonded maintenance, which can save the time needed for customs clearance.

"My company benefited a lot from the bonded maintenance policy," Chin said.

Last year, China and Singapore announced a 30-day mutual visa exemption arrangement for ordinary passport holders.

This year marks the 34th anniversary of the establishment of diplomatic relations between China and Singapore, and the two countries have in that time increased exchanges and collaboration in areas such as science, technology, education and culture.

"I hope my children can pursue their careers in China one day, not only for the opportunities and potential in the Chinese market, but also to find their family roots here," Chin said.

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Keywords:   Year of the Dragon,China