AddIn Inks Partnership Deal with Shandong in Bilateral Meeting

On 31^st October 2019, AddIn Technologies Pte Ltd (AddIn 家添网) inked a strategic partnership with Qingdao Yimu Group Co. Ltd (Qingdao Yimu) to set up business in China and the ASEAN region at the 21^st Singapore-Shandong Business Council (SSBC) meeting held at the Shangri-Hotel Singapore.

The meeting was jointly chaired by Ms Ren Airong, Shandong Vice Governor and Mr Chee Hong Tat, Senior Minister of State for Trade & Industry and Education in Singapore. Together with Business China Chairman, Mr Lee Yi Shyan, in-depth discussions were held with more than 180 government representatives and business leaders from Singapore and Shandong on strengthening bilateral trade and connectivity opportunities.

The signing between AddIn and Qingdao Yimu seals a close collaboration between the two companies to focus on business relating interior design and decoration, engineering and cross-border e-commerce.

AddIn Aligned with SSBC’s Objectives for Regional Expansion

This partnership presents a win-win situation for both companies, as Singapore will serve as a regional hub for Qingdao Yimu to springboard its internationalisation effort to penetrate Southeast Asian markets, while AddIn will be able to leverage on Shandong’s transforming economy and source for higher-value products for consumers in the Singapore and regional markets.

AddIn identifies Shandong as a key Chinese province and looks forward to the close collaboration. As an online platform for home products, AddIn will be able to effectively tap on Shandong’s wide range of manufactured home products to bring about quality and cost-effective products to its distribution channels. This move is also aligned with the SSBC’s objectives for Singapore to expand opportunities in trade and connectivity, modern services and sustainable development in Shandong.

This move marks a significant expansion of AddIn’s network in China, following the launch of AddIn in Beijing on 12 July 2018, officiated by the Counselor from the Singapore Embassy in China.

According to the Shandong Department of Commerce, bilateral trade between Singapore and Shandong has grown close to 4 percent in the first half of this year, compared to the preceding year, yielding a total of S$1.4 billion.

Singapore and Shandong have been enjoying a strong economic relationship since the council was first established in 1993. In the course of the past 26 years, Qingdao’s prominent enterprises like Haier and Qingjian Group have set up their regional bases in Singapore. Research and development collaborations between Nanyang Technological University and Shandong University have also kickstarted. Moving forward, the council will continue to foster two-way linkages between Singapore and Shandong, and the North China and Southeast Asia regions.