DPM Heng and Chinese Vice-Premier Liu He discuss new initiatives to expand cooperation

Deputy Prime Minister Heng Swee Keat and Chinese Vice-Premier Liu He also exchanged views on global economic developments.
Deputy Prime Minister Heng Swee Keat and Chinese Vice-Premier Liu He also exchanged views on global economic developments.PHOTO: HENG SWEE KEAT/FACEBOOK

BEIJING - Deputy Prime Minister Heng Swee Keat met Vice-Premier Liu He on Thursday (Oct 17).

Mr Heng and Mr Liu, who is a member of the Political Bureau of the Chinese Communist Party, reviewed the outcomes of the 15th Joint Council for Bilateral Cooperation (JCBC), the highest-level platform for discussions between Singapore and China. Mr Heng co-chaired with Chinese Vice-Premier Han Zheng the JCBC, held in Chongqing on Tuesday.

Mr Heng, who is also Finance Minister, discussed with Mr Liu new initiatives to further bilateral cooperation, including in financial connectivity which would support regional development. They also exchanged views on global economic developments.

Both leaders reaffirmed the two countries' commitment to work towards the early conclusion of the Regional Comprehensive Economic Partnership (RCEP). The proposed RCEP includes Asean's 10 member states, plus Australia, China, India, Japan, New Zealand and South Korea. They make up one-third of the global economy.

Mr Heng and Mr Liu also exchanged views on key trends and developments of mutual interest, including economic restructuring, skills training, and the impact of ageing populations and the 4th industrial revolution.