Singapore can play key role in helping China enterprises grow globally

China Shanghai town city blocks of flats high-rise buildings city skyline Huangpu river flow Pudong evening travel traveling

Singapore can play a key role in helping Chinese enterprises grow their businesses globally. Transport Minister Lui Tuck Yew made this point on Monday during a trade conference.

A delegation from the Chinese province of Guangdong is in Singapore, seeking to deepen trade ties.

China became Singapore’s top trading partner last year, with bilateral trade exceeding US$91 billion. Almost a quarter of that came from trade between Singapore and Guangdong.

That same year, Singapore became China’s largest foreign investor, committing over US$7 billion in some 700 projects.

Guangdong is China’s richest province in terms of gross domestic product, and the first to hold a trade conference in Singapore since Chinese President Xi Jinping called for increased maritime and economic cooperation between China and ASEAN.

President Xi raised the idea of a 21st century Silk Road between the two sides last October, during his maiden trip to Southeast Asia.

Guangdong’s Party Secretary Hu Chunhua said: “The important task of leading this delegation to Singapore is a step taken towards realising the shared vision of Chinese and Singaporean leaders, to press on with the building of the 21st century maritime Silk Road. This can be achieved through boosting cooperation between Guangdong and Singapore, furthering win-win collaborations that will benefit the citizens of the two countries.”

Mr Hu met Singapore’s Transport Minister Lui Tuck Yew earlier on Monday. Mr Lui is also the co-chairman of the Singapore-Guangdong Collaboration Council.

There are business councils between Singapore and six other Chinese provinces.

Guangdong is Singapore’s top trading partner, with bilateral trade at US$17.9 billion in 2013.

Speaking at the conference on Monday, Mr Lui said Singapore can also help Guangdong build world-class, liveable cities.

He elaborated: “The challenge here goes beyond just physical infrastructure. We need to build communities with social cohesion. Singapore has been through the same process, and indeed we are still going through that same process as we rejuvenate ageing urban districts, resettle residents, and balance economic growth while addressing social needs and environmental issues.”

At the conference, more than 10 industry partnerships were inked between Singapore and Chinese companies.

Some companies involved include Guangdong Zhenrong Energy Company, ceramic membranes maker Ceraflo, business park developer Ascendas, and CapitaLand.

CapitaLand is participating in the Datansha Island Urban Redevelopment project. Datansha is a 3.55 square kilometre island located in the western part of downtown Guangzhou.

There are also non-industry related collaborations, such as a joint research institute between the South China University of Technology, Nanyang Technological University, the Technological University of Munich, and the Sino-Singapore Guangzhou Knowledge City Investment and Development Company.

The Sino-Singapore Guangzhou Knowledge City Investment and Development Company, Knowledge City Administrative Committee, and the Intellectual Property Office of Singapore also signed an agreement to jointly develop an intellectual property hub in the Sino-Singapore Guangzhou Knowledge City.

Mr Lui said Singapore will be glad to partner Guangdong as it spearheads “China’s renewed efforts to engage the world through the 21st century maritime Silk Road”.

The idea of a maritime Silk Road evokes some of the routes taken by Chinese admiral Cheng Ho on his voyages in the 15th century.

Now, observers said because Cheng Ho was largely seen as a trade emissary, China wants to latch on to that idea and rebrand itself amid military and territorial tensions in the regional seas.





Source : Channel News Asia | April 21, 2014


About thomasdinnocenzi

Thomas D’Innocenzi is a highly accomplished, results-focused international consultant with extensive experience in global sourcing and business development worldwide to meet evolving business needs. Tom has proven ability in implementing and managing profitable global marketing and sourcing operations. He has extensive experience in international business development to accommodate rapid growth. Skilled in building top-performing teams, bench-marking performance, and developing organizations to improve efficiency, productivity, and profitability. Experienced transition leader and change agent. Tom founded Nova Advisors with the mission of providing expert Global Business Development consulting services for companies seeking to expand their market share as an independent consultant. Tom has a network of experts and advisors throughout the Asia-Pacific region and North America. His expertise includes business development, global sourcing, manufacturing, commodities, logistics, QA/QC, FDA, regulatory compliance, sustainability, and supply chain optimization. Tom is experienced in the medical device, apparel, consumer goods and technology services verticals helping companies advance their global sourcing capabilities and develop new markets through a local and sustained approach. Located in SE Asia and the United States, Tom expands market reach to drive sales. His global sourcing strategy includes directly negotiating with commodity suppliers, supply chain networks and distributors for optimal terms based on his expertise and first-hand knowledge of the players. Contact Tom to use his consulting service to increase your global market and make global sourcing profitable for you in the Asia Pacific Region and the United States. USA Direct: +1.904.479.3600 SINGAPORE: +65.6818.6396 THAILAND: +662.207.9269
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