![](https://i.imgur.com/CLvY2jA.png")
30-12-2021, 09:20 AM
Tang See Kit
29 Dec 2021 08:41PM
(Updated: 29 Dec 2021 09:50PM)
SINGAPORE: Singapore and China signed 14 agreements at an annual top-level bilateral meeting on Wednesday (Dec 29).
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This year, the attention fell on three emerging areas of cooperation with the aim “to come out stronger from the challenges” facing both countries, Mr Heng said.
One of which is sustainability, given how addressing the threat of climate change is a “global priority”.
Discussions on green development also reflect an “emphasis on high-quality development”, he added, citing the example of the Sino-Singapore Tianjin Eco-City project.
“We have been building a city that is resource efficient (and) sustainable. We are now piloting new solutions in Tianjin Eco-City that can be useful to other cities in China and around the world.”
Mr Heng also noted that Singapore and China should jointly harness opportunities in new growth sectors, such as carbon trading and green finance.
Another emerging area for partnership between both countries is in the digital economy.
The use of digital technology can pave the way for economic recovery, while promoting long-term growth by strengthening the flows of goods, data and finance, said Mr Heng.
For example, one of the MOUs signed at this year’s meeting will see to the establishment of a “single window” interconnection consortium using the decentralised blockchain model.
This pact, inked by custom authorities from both sides, will improve the efficiency of exchanging customs and trade-related information, ultimately reducing costs for traders, he added.
......
Both countries also reviewed the “good progress” made on the “traditional areas of cooperation”, such as the three bilateral projects between Singapore and China.
They are the China-Singapore Suzhou Industrial Park, Sino-Singapore Tianjin Eco-City and the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity (CCI).
......
Among the agreements signed this year include the endorsement of a new cooperation plan for the CCI – New International Land-Sea Trade Corridor (CCI-ILSTC).
The CCI-ILSTC is a trade corridor that will link western China with Southeast Asia by connecting Chongqing to Qinzhou in Guangxi by rail, and to Singapore and beyond by sea. The new cooperation plan will provide a developmental framework for the CCI-ILSTC from 2021 to 2025, with a further outlook to 2035.
The new plan will “further deepen” Singapore and China’s economic and trade connectivity, said Mr Heng.
The establishment of an exchange-traded funds (ETF) product link between the Singapore Exchange and the Shenzhen Stock Exchange will also help to strengthen financial linkages between both countries, added the Deputy Prime Minister.
Meanwhile, there are also plans to deepen cooperation to make the Sino-Singapore Tianjin Eco-City greener and more sustainable.
Better to read full article at: https://www.channelnewsasia.com/singapor...ng-2406136
......
29 Dec 2021 08:41PM
(Updated: 29 Dec 2021 09:50PM)
SINGAPORE: Singapore and China signed 14 agreements at an annual top-level bilateral meeting on Wednesday (Dec 29).
......
This year, the attention fell on three emerging areas of cooperation with the aim “to come out stronger from the challenges” facing both countries, Mr Heng said.
One of which is sustainability, given how addressing the threat of climate change is a “global priority”.
Discussions on green development also reflect an “emphasis on high-quality development”, he added, citing the example of the Sino-Singapore Tianjin Eco-City project.
“We have been building a city that is resource efficient (and) sustainable. We are now piloting new solutions in Tianjin Eco-City that can be useful to other cities in China and around the world.”
Mr Heng also noted that Singapore and China should jointly harness opportunities in new growth sectors, such as carbon trading and green finance.
Another emerging area for partnership between both countries is in the digital economy.
The use of digital technology can pave the way for economic recovery, while promoting long-term growth by strengthening the flows of goods, data and finance, said Mr Heng.
For example, one of the MOUs signed at this year’s meeting will see to the establishment of a “single window” interconnection consortium using the decentralised blockchain model.
This pact, inked by custom authorities from both sides, will improve the efficiency of exchanging customs and trade-related information, ultimately reducing costs for traders, he added.
......
Both countries also reviewed the “good progress” made on the “traditional areas of cooperation”, such as the three bilateral projects between Singapore and China.
They are the China-Singapore Suzhou Industrial Park, Sino-Singapore Tianjin Eco-City and the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity (CCI).
......
Among the agreements signed this year include the endorsement of a new cooperation plan for the CCI – New International Land-Sea Trade Corridor (CCI-ILSTC).
The CCI-ILSTC is a trade corridor that will link western China with Southeast Asia by connecting Chongqing to Qinzhou in Guangxi by rail, and to Singapore and beyond by sea. The new cooperation plan will provide a developmental framework for the CCI-ILSTC from 2021 to 2025, with a further outlook to 2035.
The new plan will “further deepen” Singapore and China’s economic and trade connectivity, said Mr Heng.
The establishment of an exchange-traded funds (ETF) product link between the Singapore Exchange and the Shenzhen Stock Exchange will also help to strengthen financial linkages between both countries, added the Deputy Prime Minister.
Meanwhile, there are also plans to deepen cooperation to make the Sino-Singapore Tianjin Eco-City greener and more sustainable.
Better to read full article at: https://www.channelnewsasia.com/singapor...ng-2406136
......
