International Enterprise (IE) Singapore, CapitaLand and China's leading co-working space operator, UrWork, signed a Memorandum of Understanding on Friday to facilitate Singapore companies' entry into China amid a growing trend of the sharing economy.

This first-of-its-kind tripartite partnership will provide a conducive working environment, leads and business advisory services, helping small- and medium-sized enterprises (SMEs) in their market entry process.

Under the partnership, CapitaLand will work with UrWork to provide co-working spaces in CapitaLand's properties in China and Singapore. IE Singapore will identify and link potential Singapore SMEs to these co-working spaces in China.

IE Singapore and UrWork will jointly attract and groom a group of talents to drive innovation, entrepreneurship and internationalization through regular seminars, thematic exchanges, networking sessions and internship opportunities, added the release.

Lee Ark Boon, CEO of IE Singapore, noted that this tripartite partnership strengthens IE Singapore's networks, allowing Singapore to provide ready and better support to Singapore's companies to accelerate their market expansion into China.

"I hope that Singapore companies can tap on these mature network and platform set forth by UrWork and CapitaLand to ease way through the China market and also to promote your innovations to achieve greater international successes," said Yew Sung Pei, Assistant CEO of IE Singapore.

UrWork's founder Mao Daqing said, "Through this tripartite MoU, Singapore start-ups will gain access to China's market, while Chinese start-ups will have an international platform to exhibit and grow their businesses."

Editor: Zeng Yunheng