S'pore 'should adapt to China's services shift'

Hong Kong

CHINA has entered its post-industrialisation era, shifting away from a production-based economy to a services-based one, and Singapore will have to adjust accordingly in order to benefit, Dong Tao, Credit Suisse's chief economist for non-Japan Asia economics, said on Thursday.

Speaking at the Credit Suisse Asian Investment Conference in Hong Kong, Mr Tao said China's economy will inevitably slow further with this transition. In fact, he thinks China's trend growth is likely to come below official and market expectations of 7 per cent.