24 October 2018
For Professionals

“China’s Reform and Opening – Up Since 1978: A Singapore Perspective” Inaugural Seminar Series

“China’s Reform and Opening – Up Since 1978: A Singapore Perspective” Inaugural Seminar Series

To commemorate the 40th anniversary of China's Reform and Opening, as well as the 40th anniversary of Chinese leader Deng Xiaoping's inaugural official visit to Singapore, “China’s Reform and Opening – Up Since 1978: A Singapore Perspective” seminar series was inaugurated on 24 October 2018, at the China Cultural Centre in Singapore. This seminar series is co-organized by Business China, the China Cultural Centre and Bank of China Singapore Branch.

Apart from Senior Parliamentary Secretary, Ministry of Education & Ministry of Manpower, and South West CDC Mayor Ms Low Yen Ling; Chairman of Business China, MP for East Coast GRC Mr Lee Yi Shyan; and Ambassador of China to Singapore Mr Hong Xiaoyong, more than 200 representatives from Singapore and China’s political, business and educational sectors, and clan associations also attended this event.

 As a former CEO of Business China, Senior Parliamentary Secretary Ms Low Yen Ling said that over the past 40 years since China's Reform and Opening, Singapore and China have made remarkable achievements in their respective domestic developments. The business, cultural and people-to-people links between the two countries have always remained strong. Government leaders on both sides have made use of multiple platforms, such as the establishment of seven provincial economic and trade cooperation councils and the Joint Commission on Singapore-China Bilateral Cooperation (JCBC) at the deputy prime minister level, to deepen exchanges and cooperation between the two countries. Currently, on top of the traditional sectors of cooperation, the two countries are also cooperating to develop innovative fields, such as Artificial Intelligence, internet of things (IoT), Big Data and Financial Technology. Singapore has also made use of its strengths in the financial sector and talent pool to strengthen cooperation with China, and jointly grow the market.

Having involved in Suzhou Industrial Park, Sino-Singapore Tianjin Eco-city (SSTEC) and various Singapore-China cooperation projects, Business China Chairman Mr Lee Yi Shyan spoke on the topic “The 40th Anniversary of China's Reform and Opening – Deepening Cooperation between Singapore and China”. Mr Lee shared his views on the four stages of China’s reform, emphasising on his experience from Singapore-China bilateral projects which he participated in the past 22 years. He believed that the pace of reform in China has quickened, and China’s socialist market economy system has become more established. Moreover, Singapore and China have increased bilateral cooperation and dialogue. On the mindset on bilateral cooperation, Mr Lee said that Singapore always been thinking about different ways to cooperate with the rapidly rising China.

China’s Ambassador to Singapore: China is committed to opening up to the world.

Ambassador of China to Singapore Mr Hong Xiaoyong pointed out in his speech that China's Reform and Opening has adhered to the trend of global development. China will continue to promote opening-up and work with other countries to uphold multilateralism and promote the free trade system. Ambassador Hong acknowledged that the world trade environment has encountered headwinds, therefore China's economic growth would inevitably be affected. However, China has the capacity and confidence to meet the current challenges, and will continue to promote opening-up and integrate with the world in its development.

Ambassador Hong also pointed out that Singapore has actively engaged itself in the process of China's reform. From the Suzhou Industrial Park project, to SSTEC, the China-Singapore Chongqing Demonstration Initiative on Strategic Connectivity (CCI) and the Sino-Singapore Guangzhou Knowledge City, Singapore-China cooperation has always been based on the common ideas of joint development, with sustained vitality for bilateral cooperation, which brought about welfare to the people of these two countries.

With Chinese Premier Li Keqiang’s visit to Singapore next month. Ambassador Hong held high expectations for this high-level meeting between the two countries and hoped that this would further elevate bilateral relations between the two countries.

In addition, SSTEC CEO Mr Tay Lim Heng and Bank of China Chongqing Branch President Mr Duan Zhong Hui talked about bilateral intergovernmental cooperation projects, such as the SSTEC and CCI. They shared their professional views about the development and changes since China’s Reform and Opening, and means to seek common prosperity and development between China and Singapore,

Apart from the inaugural “China’s Reform and Opening – Up Since 1978: A Singapore Perspective” Seminar, there will be two more seminars focusing on economic, cultural, cooperation, innovation and other aspects, hosted namely by experts and scholars, and cultural personage on 9th November and 1st December respectively.