Yan Jinyong attended the new China Economic and Trade and Investment Forum organized by the Singapore Industry and Commerce Federation in Shanghai and Singapore.When he spoke at the Singapore branch venue, he encouraged Singaporean companies to maintain an open attitude, prepare for transformation, and explore a new way of movement.
China's digital economy and green economy are developing rapidly. Singapore Minister of Trade and Industry Yan Jinyong encourages Chinese enterprises to focus on these two fields and join forces with Chinese partners to explore more opportunities.
Yan Jinyong attended the New China Economic and Trade and Investment Forum organized by Singapore's Federation of Industry and Commerce on Monday (November 7) to connect to Shanghai and Singapore.In his speech at the Singapore branch, he pointed out that the global economy is recovering from the impact of the crown disease, but challenges such as extreme weather, geopolitical tensions and high inflation rates have also followed.
However, Singapore is located in Asia, which has continued to grow, and has the good connectivity and efficient environment for facilitation of corporate operations. These are the advantages of future development.Yan Jinyong quoted the poem of the Song Dynasty poet Wang Anshi, "The green mountains are lingering and there is no way, and the Qianfan is reflected by Qianfan", encouraging Singapore companies to maintain an open attitude, make preparations for transformation, and explore a new way forward.
New China is committed to reducing carbon footprints to achieve more sustainable economic development
Yan Jinyong explains how Singaporean companies have benefited from China's development from two aspects: digitalization and sustainable development.He pointed out that China's digital economy was valued at US $ 7.1 trillion (about S $ 10 trillion) in 2021, accounting for nearly 40 % of the GDP (GDP).Singapore -cities are compact in scale, and the population is too high to receive higher education, which is easier to achieve digitalization.If local enterprises, employees, and consumers are prepared for digitalization, it will be more conducive to participating in digital transformation in China.
On the other hand, both Singapore and China are committed to reducing carbon footprints and achieving more sustainable economic development.Yan Jinyong said that the road of sustainable development is extremely challenging and will encounter many setbacks along the way, but there are many opportunities.Singapore announced at the International Energy Week recently announced to promote the national hydrogen strategy and also look forward to exploring how to participate in the sustainable development journey of other countries.
Chinese enterprises and government agencies show a strong interest in Singapore's investment
In the subsequent on -site question session, Chinese enterprises and government agencies have shown a strong interest in Singapore's investment.Guo Ning, deputy director of the Hunan Provincial Department of Commerce, reported to Yan Jinyong that the local government plans to send delegations to Singapore for inspection next month, and also hopes to attract Singapore companies to invest in Hunan.However, most Singapore companies lack their understanding of this inland province, causing investment promotion to face obstacles.
Yan Jinyong admits that how to encourage Singaporean companies out of the "comfort zone" of the Chinese markets such as Beijing and Shanghai, and exploring opportunities in less well -known areas is one of the challenges faced by the government."In fact, emerging markets often contain broader business opportunities compared to crowded developed cities."
He calls on the Singapore Enterprise Development Bureau and the Federation of Industry and Commerce to lead the industry to develop more new markets, and suggested that the forum organizer considers holding forums in the areas outside Shanghai next year to enhance the local understanding of Singaporean enterprises.
This forum held during the Fifth China International Import Expo has attracted more than 650 representatives of the political and business community of the two new China and China, of which nearly 400 people attended the meeting online.Singapore's Consul General Circle Cai Yonghe also arrived at the scene.
Singapore companies have signed six memorandums of understanding on the forum to cooperate with Chinese operators in the fields of logistics, education, digital and beauty.
The Federation of Industry and Commerce led 50 Singaporean companies this year to participate in the Expo, about half of its companies participated in the exhibition for the first time.Lin Mingyan, chairman of the Federation of Industry and Commerce, pointed out that the Federation also set up a digital booth to provide an opportunity for online product display and interacting with Chinese buyers for enterprises who are unable to attend.
