Forum aims to deepen Shanghai-Singapore cooperation

Under the context of all-around cooperation between China and Singapore, it was the right time to deepen cooperation between Shanghai and Singapore, as pointed out by Xiao Guiyu, deputy director of the Standing Committee of the Shanghai Municipal People's Congress, at the Singapore and China Forum in Shanghai on Nov 6.

The forum, organized by The Paper, a Shanghai-based digital news app, and Lianhe Zaobao, the largest Chinese newspaper by circulation in Singapore, invited government officials, experts, scholars and business people from both countries to discuss and exchange ideas based on the topic of digital economy.

Focused on the themes of China and Singapore including finance, science and technology innovation, service and trade, and regional cooperation, the forum was another exploration of regional and international exchange and cooperation, an important measure to further strengthen the nongovernmental exchanges between China and Singapore, and a way to enhance mutual understanding and cooperation, according to Xiao.

"Singapore and Shanghai are highly complementary and have great potential for cooperation. Shanghai's enterprises have undertaken port construction and other projects in Singapore, and Singapore's financial and trade enterprises have set up many branches in Shanghai," said Xiao.

"Moreover, in the field of social governance, many cadres in Shanghai have gone to Singapore to study and investigate, and the experiences of Singapore have given Shanghai a lot of inspiration," Xiao added.

Shanghai and Singapore have always had economic and cultural exchanges and substantial cooperation in various fields.

In 1994, Suzhou Industrial Park, an important cooperation project between the two countries, was launched. After more than 20 years of development, the park has become a successful example of international cooperation, an experience which has also been practiced in Chongqing and Tianjin now.

On Oct 16, the protocol on upgrading the free trade agreement signed by China and Singapore entered into force, which promoted six areas of the original China Singapore Trade Agreement and added three new areas, including e-commerce, competition policy and environment.

Chan Chun Sing, minister for Trade and Industry of Singapore, said: "our development with Shanghai is not only the cooperation between Singapore and Shanghai in the financial field. Our goal is to cooperate with Shanghai, not only to provide services for Singapore and Shanghai but also to provide services for China and a broader region."

"The interconnection between Singapore and Shanghai should span two economies and provide new services for the whole region and even the world. Today's connectivity has broken through the boundaries of cities, and it is in line with China's regional development. It involves not only the development of China's internal regions but also the interconnection between China and the world," Chan added.