{"id":5811,"date":"2019-10-16T15:21:03","date_gmt":"2019-10-16T07:21:03","guid":{"rendered":"https:\/\/yes.businesschina.org.sg\/?p=5811"},"modified":"2025-12-16T13:05:58","modified_gmt":"2025-12-16T05:05:58","slug":"singapore-china-ink-bumper-number-of-deals-ahead-of-milestone-year","status":"publish","type":"post","link":"https:\/\/yes.businesschina.org.sg\/zh-hans\/singapore-china-ink-bumper-number-of-deals-ahead-of-milestone-year\/","title":{"rendered":"Singapore, China Ink Bumper Number of Deals Ahead of Milestone Year"},"content":{"rendered":"\t\t
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Singapore, China Ink Bumper Number of Deals Ahead of Milestone Year<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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CHONGQING \u2022 Singapore and China have inked as many as nine agreements at their latest apex bilateral meeting, held for the first time in the south-western Chinese city of Chongqing.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Deputy Prime Minister Heng Swee Keat (left) and Chinese Vice-Premier Han Zheng in Chongqing, China. Singapore and China signed a raft of pacts at their 15th Joint Council for Bilateral Cooperation meeting.PHOTO: MINISTRY OF COMMUNICATIONS AND INFORMATION<\/em><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Tan Dawn Wei .\u00a0<\/strong>China Bureau Chief
PUBLISHED 16 OCT 2019
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The two countries signed a raft of pacts – from Customs twinning to a smart city project in Shenzhen and a youth internship exchange programme – at their 15th Joint Council for Bilateral Cooperation meeting.<\/p>

The substantial number of deals – up from seven signed at last year’s talks – could be seen as a sign of a new chapter in the relationship between the two countries, as Singapore transitions to a new generation of political leaders.<\/p>

Yesterday, the co-chairmen, Singapore Deputy Prime Minister Heng Swee Keat and Chinese Vice-Premier Han Zheng, acknowledged the milestone in their opening remarks at the bilateral meeting and subsequent council meeting.<\/p>

Referring to the 30th anniversary of relations between Singapore and China next year, Mr Han said there were a lot of expectations about this year’s meeting as the two countries face common challenges amid a wave of protectionism and anti-globalisation sweeping the world.<\/p>

With China facing a prolonged trade war with the United States and Singapore’s economy flatlining, there is greater impetus for both countries to cooperate economically, say analysts.<\/p>

Mr Heng, who is co-chairing the council for the first time, said both countries attach great importance to the annual summit, which is reflected by “the high-level representation and substantial achievements” of the projects.<\/p>

Referring to the significant number of fourth-generation leaders from Singapore attending the meeting, he said their presence will hopefully “pave the way for the next generation of leaders to strengthen our bilateral relationship”.<\/p>

Among the agreements signed was one between Singapore’s Ministry of Communications and Information (MCI) and the Shenzhen government on a smart city initiative that will connect business ecosystems and promote links between people and businesses from the island-state and the Chinese technology capital.<\/p>

MCI said in a statement that the projects under this initiative will be in areas like digital connectivity, talent exchange and development, and innovation and entrepreneurship.<\/p>

Singapore aims to be the world’s first smart nation.<\/p>

Another agreement is for internship exchanges for students and recent graduates of polytechnics and universities.<\/p>

To be launched next year, the programme<\/a> will allow up to 500 Singaporean full-time students and recent graduates each year to work at a China-based company of their choice for up to six months. Chinese students will also have similar opportunities.<\/p>

This is the first bilateral internship exchange scheme that Singapore has with another country, and Singapore is the first Asian country to have such an arrangement with China.<\/p>

Singapore Customs and its Chinese counterpart also signed a deal for smoother Customs clearance for Singapore’s intergovernmental project in Chongqing.<\/p>

Yesterday, Mr Heng and Mr Han also announced that the upgrade to the two countries’ free trade agreement will take effect today.<\/p>

The upgrade allows more petrochemical products to qualify for preferential treatment and grants Singapore companies greater access to China’s legal, maritime and construction services sector.<\/p>

It also includes enhancements in investment protection, Customs procedures and trade facilitation, trade remedial measures, as well as commitments in new areas such as e-commerce, competition and the environment.<\/p>

The free trade agreement has existed since 2009 and was China’s first comprehensive bilateral free trade pact with an Asian country.<\/p>

Negotiations for its upgrade started in 2015 and took eight rounds of talks over three years.<\/p>

In another announcement, China’s central bank agreed to grant a settlement agent licence to DBS, which will allow it to trade, settle and provide custody for interbank bond market instruments on behalf of foreign investors.<\/p>

During yesterday’s meeting, the two sides also discussed the progress of their three joint projects: Suzhou Industrial Park (SIP), Tianjin Eco-city and Chongqing Connectivity Initiative.<\/p>

The oldest of the three, the 25-year-old Suzhou project is moving beyond its brick-and-mortar industrial park beginnings, with Singapore now stepping in with professional services, intellectual property management and financial services to support Chinese companies to go global.<\/p>

In the innovation space, Singapore’s Agency for Science, Technology and Research (A*Star) will have its first foreign outpost, called the A*Star Partners’ Centre@SIP, to facilitate partnerships between Singapore and Chinese companies.<\/p>

Tianjin Eco-city, which now has 8,200 registered companies and over 100,000 people living or working in its 30 sq km area, is now developing into a smart city, with pilot projects such as for autonomous public buses and smart carparks.<\/p>

Singapore and China are also looking to replicate the eco-city’s model in other Chinese cities and Belt and Road countries.<\/p>

Chongqing is a relatively new focus and is Singapore’s effort to plug into China’s ambitious Belt and Road Initiative (BRI).<\/p>

The two countries are working on a long-term project that will connect the less-developed western region of China to the rest of the world.<\/p>

Singapore is providing modern services<\/a> in the areas of logistics, financial services, aviation and information and communications technology.<\/p>

The two sides are also working on a trade corridor that will integrate western China with South-east Asia by connecting Chongqing to Qinzhou in Guangxi by rail, and to Singapore and beyond by sea.<\/p>

China’s BRI is a signature project by President Xi Jinping, whose vision is to create a 21st century Silk Road of overland corridors and shipping lanes.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Source:\u00a0www.straitstimes.com\/asia\/east-asia\/spore-china-ink-bumper-number-of-deals-ahead-of-milestone-year<\/a><\/p><\/div><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Singapore, China Ink Bumper Number of Deals Ahead of Mi […]<\/p>\n","protected":false},"author":1,"featured_media":5890,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-5811","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-update"],"yoast_head":"\nSingapore, China Ink Bumper Number of Deals Ahead of Milestone Year - YES<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/yes.businesschina.org.sg\/singapore-china-ink-bumper-number-of-deals-ahead-of-milestone-year\/\" \/>\n<meta property=\"og:locale\" content=\"zh_CN\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Singapore, China Ink Bumper Number of Deals Ahead of Milestone Year - YES\" \/>\n<meta property=\"og:description\" content=\"Singapore, China Ink Bumper Number of Deals Ahead of Mi […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/yes.businesschina.org.sg\/singapore-china-ink-bumper-number-of-deals-ahead-of-milestone-year\/\" \/>\n<meta property=\"og:site_name\" content=\"YES\" \/>\n<meta property=\"article:published_time\" content=\"2019-10-16T07:21:03+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-12-16T05:05:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/yes.businesschina.org.sg\/wp-content\/uploads\/2025\/04\/3DFA5329-069B-4FDE-A91C-C9D5569C03B1_4_5005_c.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"780\" \/>\n\t<meta property=\"og:image:height\" content=\"358\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"NthU53Nruz\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"\u4f5c\u8005\" \/>\n\t<meta name=\"twitter:data1\" content=\"NthU53Nruz\" \/>\n\t<meta name=\"twitter:label2\" content=\"\u9884\u8ba1\u9605\u8bfb\u65f6\u95f4\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 \u5206\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/yes.businesschina.org.sg\/singapore-china-ink-bumper-number-of-deals-ahead-of-milestone-year\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/yes.businesschina.org.sg\/singapore-china-ink-bumper-number-of-deals-ahead-of-milestone-year\/\"},\"author\":{\"name\":\"NthU53Nruz\",\"@id\":\"https:\/\/yes.businesschina.org.sg\/#\/schema\/person\/35a659b6a77618fefdd70e804903021a\"},\"headline\":\"Singapore, China Ink Bumper Number of Deals Ahead of Milestone Year\",\"datePublished\":\"2019-10-16T07:21:03+00:00\",\"dateModified\":\"2025-12-16T05:05:58+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/yes.businesschina.org.sg\/singapore-china-ink-bumper-number-of-deals-ahead-of-milestone-year\/\"},\"wordCount\":966,\"image\":{\"@id\":\"https:\/\/yes.businesschina.org.sg\/singapore-china-ink-bumper-number-of-deals-ahead-of-milestone-year\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/yes.businesschina.org.sg\/wp-content\/uploads\/2025\/04\/3DFA5329-069B-4FDE-A91C-C9D5569C03B1_4_5005_c.jpeg\",\"articleSection\":[\"Latest Update\"],\"inLanguage\":\"zh-Hans\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/yes.businesschina.org.sg\/singapore-china-ink-bumper-number-of-deals-ahead-of-milestone-year\/\",\"url\":\"https:\/\/yes.businesschina.org.sg\/singapore-china-ink-bumper-number-of-deals-ahead-of-milestone-year\/\",\"name\":\"Singapore, China Ink Bumper Number of Deals Ahead of Milestone Year - 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