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    Singapore, Guangdong ink 15 projects at annual SGCC

    2020-September-1       Source: Newsgd.com

    The 11th Singapore-Guangdong Collaboration Council (SGCC) was held online on 31st August, during which Singapore Minister for Transport Ong Ye Kung and Guangdong Governor Ma Xingrui reaffirmed the economic ties between two places while 15 projects were signed between Singaporean and Guangdong companies.

    The 11th Singapore-Guangdong Collaboration Council (SGCC) was held online on 31st August, during which Singapore Minister for Transport Ong Ye Kung and Guangdong Governor Ma Xingrui reaffirmed the economic ties between two places while 15 projects were signed between Singaporean and Guangdong companies.

    [Photo provided to Newsgd.com]

    Ma Xingrui highlighted that 2020 marks the 30th anniversary of diplomatic ties between Singapore and China and the 10th anniversary of the China-Singapore Guangzhou Knowledge City (CSGKC), a national-level bilateral cooperation project.

    “As the State Council recently approved the 2020-2035 development plan for CSGKC, we hope Singapore and Guangdong could seized the opportunities brought by the Belt and Road Initiative and the development of Guangdong-Hong Kong-Macao, and further cooperation in such fields as technological innovation, financial service, education& training, culture & tourism, medical health and urban development,” said Governor Ma.

    Ong Ye Kung said, “Singapore attaches great importance to the cooperation with Guangdong, especially major joint projects including CSGKC and the Shenzhen-Singapore smart city project. We vow to actively participate in the development of Guangdong-Hong Kong-Macao Greater Bay Area and deepen our partnerships in financial innovation and people-to-people exchanges. We also hope we could make good use of the ‘China-Singapore fast lane’ mechanism to revitalize our relationships after the pandemic.”

    Being an annual meeting to push forward Singapore-Guangdong cooperation, SGCC focused on the Greater Bay Area development this year, and invited representatives of both sides to share insights into the topic ‘financial innovation and new opportunities in the post-pandemic era’.

    Singaporean representatives of enterprises including Temasek International and DBS Group expressed confidence in Chinese economy and revealed that they were expanding investment in the Greater Bay Area.

    Wu Yibing, Joint Head of Enterprise Development Group of Temasek International, said the low-touch?economy is reshaping customer behaviors during the pandemic. It boosted industrial revolution and fostered new business models.

    “We saw enormous opportunities in industries such as e-commerce, online entertainment, digital payment, AI and big data while leading companies in most of these industries are based in the Greater Bay Area,” said Wu, “we are exploring the chance to settle some inclusive financial projects in the Greater Bay Area. Meanwhile, the company and its subsidiaries are also seeking different forms of cooperation with Guangdong partners.”

    According to Wu, CSGKC is co-operated by Capitaland, a holding subsidiary of Temasek International. To date, a total of 1,803 enterprises have registered in the area since its inception, with registered capital reaching 155.2 billion yuan and fixed asset investment reached 151.8 billion yuan.

    During the meeting, Ong Ye Kung and Ma Xingrui also looked forward to enhancing multi-faceted cooperation between Singapore and Guangdong amidst the COVID-19 pandemic, and made a Joint Statement [Full Text]. Singaporean and Guangdong companies inked 15 projects in the fields of trade, innovation, financial service, smart city and talent strategies.

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    Author: Jasmine

    Editor: Wing, Jerry?

    Editor: Jasmine

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