Singapore and China signal 19 agreements to spice up cooperation at annual apex assembly

SINGAPORE: Singapore and China signed 19 agreements to deepen cooperation at an annual top-level bilateral assembly on Tuesday (Nov 1).

The raft of memoranda of understanding (MOUs) and agreements signed – up from 14 final 12 months and probably the most lately – lined areas comparable to inexperienced improvement and inexperienced finance, e-commerce, public well being, innovation cooperation and tourism exchanges.

The “bumper crop” of 19 deliverables displays the “rising depth and breadth” of bilateral cooperation between each international locations, mentioned Deputy Prime Minister Heng Swee Keat at a press convention held after the 18th Joint Council for Bilateral Cooperation (JCBC) assembly.

The JCBC assembly – co-chaired by Mr Heng and visiting Chinese language Vice Premier Han Zheng – is the highest-level annual discussion board between China and Singapore. Held on the 4 Seasons Resort in Singapore, it was the primary bodily assembly between representatives from either side for the reason that begin of the COVID-19 pandemic. 

“The conferences have been very substantial and set out new instructions which are consistent with Singapore’s wants and our work in reworking the economic system, in addition to China’s new improvement path,” mentioned Mr Heng.

He famous that there are three broad themes within the new agreements signed, specifically inexperienced, digital and connectivity.

“These are areas of priorities – not only for our two international locations, however for the area and the world,” he mentioned.

The green-related agreements included initiatives to broaden cooperation in inexperienced finance and deepen connectivity between each international locations’ capital markets.

For one, a inexperienced finance taskforce will probably be arrange by the Financial Authority of Singapore and the Individuals’s Financial institution of China.

This can discover choices for collaboration in areas comparable to inexperienced and transition financing options, information and know-how adoption, in addition to inexperienced funding alternatives in China’s inexperienced finance pilot cities and third international locations.

A low-carbon index household will even be collectively launched by the inventory exchanges of each international locations by the year-end. This goals to function a benchmark for fund managers to launch new inexperienced funds targeted on China, ASEAN and different international locations in Asia.

As well as, a separate MOU was signed by Enterprise Singapore and the Suzhou Industrial Park’s administrative committee to deepen inexperienced improvement cooperation.

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