[photopress:LimHweeHua.jpg,full,alignright]Lim Hwee Hua, Singapore’s Minister of State for Finance and Transport, speaking at the Women’s International Shipping and Trading Association annual conference in Singapore, said the center of gravity for the global economy has truly shifted to Asia, with China leading the way.
She said China, after two decades of dizzying growth, continues to grow at a remarkable rate of 11 percent in the second quarter of this year, fueled by strong exports and investments.
She said, ‘We can expect China to sustain its strong growth, and continue to energize trade, investments and growth opportunities in the Asian region.’
The minister said that the growth of the Chinese economy has contributed significantly to the buoyant freight rates of recent years. Thus it is natural that shipping companies try to seize the opportunities offered. She called on the shipping industry to keep on developing human capital in Asia to support the anticipated growth in trade and maritime activity in this region.
Source: Xinhua