Singapore, China to boost cooperation across fields

(From left) Chinese Vice-Minister of Finance Liao Min, Chinese Vice-Premier Liu He, People's Bank of China (PBOC) governor Yi Gang, PBOC international department director-general Zhu Juan, Monetary Authority of Singapore managing director Ravi Menon,
(From left) Chinese Vice-Minister of Finance Liao Min, Chinese Vice-Premier Liu He, People's Bank of China (PBOC) governor Yi Gang, PBOC international department director-general Zhu Juan, Monetary Authority of Singapore managing director Ravi Menon, Singapore Finance Minister Heng Swee Keat, and Singapore Deputy Prime Minister Tharman Shanmugaratnam at the meeting in Beijing yesterday.PHOTO: SINGAPORE EMBASSY IN BEIJING

They reaffirm ties, agree to deepen bilateral partnership in areas including science and tech, finance, education

Singapore and China have reaffirmed their excellent bilateral ties and agreed to enhance cooperation across multiple fields.

Deputy Prime Minister Tharman Shanmugaratnam and Chinese Vice-Premier Liu He yesterday agreed to deepen bilateral partnership in the areas of finance, regional infrastructure development, and education as well as science and technology in their meeting at the Central Financial and Economic Affairs Commission office in Beijing.

Mr Liu, China's top leader for economic affairs, said the "very, very good" state of bilateral ties was anchored by the frequent exchanges and visits between top leaders on both sides, as well as strong cooperation in the commercial sectors.

He cited Chinese President Xi Jinping's state visit to Singapore in 2015 and the string of reciprocal visits since, as well as Chinese Vice-Premier Han Zheng's trip to Singapore last month for the annual Joint Council for Bilateral Cooperation, which he co-chairs with Singapore Deputy Prime Minister Teo Chee Hean.

Mr Tharman, who is also Coordinating Minister for Economic and Social Policies, agreed, noting that Singapore investors have had a long history and good record in China.

Singapore sovereign wealth fund GIC, for instance, celebrates the 20th anniversary of its first office in China this year.

"(GIC is) one of the early, major investors in China, and it's been a good experience: continually growing, moving into more sectors, and building very good relationships," Mr Tharman said.

GOOD EXPERIENCE

(GIC is) one of the early, major investors in China, and it's been a good experience: continually growing, moving into more sectors, and building very good relationships.

SINGAPORE DEPUTY PRIME MINISTER THARMAN SHANMUGARATNAM, noting that Singapore investors have had a long history and good record in China.

"So it's a good occasion to commemorate one facet of the relationship between our two countries."

Last month, GIC and Singapore-based Global Logistic Properties launched a US$2 billion (S$2.8 billion) fund to invest in China logistics assets.

GIC held its annual GIC Insights Forum in Beijing yesterday with Mr Tharman as guest of honour at the anniversary dinner.

Mr Tharman and Mr Liu also exchanged views on the global economic situation and geostrategic issues of mutual concern at the meeting, and discussed Singapore's and China's respective economic and social priorities, and strategies.

 
 

Mr Tharman leaves Beijing today for a two-day visit to Copenhagen, where he will attend and speak at the inaugural Partnering for Green Growth and the Global Goals 2030 summit.

While in Denmark, he will also meet leaders in government and the social sector to discuss Danish pension reforms and lifelong learning.

Mr Tharman will then travel to Helsinki, where he will meet Finnish Deputy Prime Minister and Finance Minister Petteri Orpo and business leaders, as well as visit Finnish education and lifelong learning institutions.

A version of this article appeared in the print edition of The Straits Times on October 19, 2018, with the headline 'S'pore, China to boost cooperation across fields'. Print Edition | Subscribe