Chen Zhensheng, Minister of Trade and Industry of Singapore, gave a speech to more than 300 attendees at the first New Central Belt and Road Investment Cooperation Forum yesterday.(Photo by Tang Jiahong)
New Middle School Belt and Road ● Investment Cooperation Forum
Chen Zhensheng pointed out that market discipline means that each project must be thoroughly evaluated according to market principles. Considering the risk of losses and long -term sustainability of the project, ensuring higher accountability, encouraging healthier risk management, and more healthy management.And create more rigorous and sustainable projects.
Chen Zhensheng, Minister of Trade and Industry of Singapore, believes that the success of China ’s Belt and Road Initiative depends on the prospects of the cooperation between all partners and stakeholders to share the initiative.He called on all parties to allow the market to develop their own discipline and let the Belt all the way to give full play to their potential.
Chen Zhensheng pointed out at the first New Central Belt and Road Investment Cooperation Forum held at the first new China Belt and Road Investment Cooperation Forum held at the Ritz -Calon Merrology yesterday that some international media have recently questioned the intention and fiscal feasibility of the Belt and Road projects, and people also see the anti -worldwide scope.Globalization and trade conflict upgrade.
On the occasion of the Five Anniversary of the Belt and Road Initiative, Chen Zhensheng suggested from four aspects, namely institutional evolution, market discipline, integration of production and value chain, and ensuring mutually beneficial and win -win.Essence
Regarding institutional evolution, Chen Zhensheng pointed out that many rules of the World Trade Organization (WTO) actually originated from the General Tariff Trade Agreement (GATT) established in 1948; over time, the rules of the WTO must be updated and strengthened to cope with emerging emerging onesNew issues such as digital economy.In order to make multilateralism meet the time, the WTO rules must evolve to adapt to the modern context.
As for market discipline, it means that each project must be thoroughly evaluated according to market principles. Considering the risk of losing losses and long -term sustainability of the project, to ensure a higher level of accountability, encourage healthier risk management, and create moreMore financial and sustainable projects.
Those projects that are not affected by non -economic factors and low -level financial management have the most successful probability.Those projects that adhere to high standards of reviewing finances and frankness will be able to enhance market confidence and bring substantial benefits to the people of all countries.
Costing the global promotion of a more integrated economic and trade cooperation ecology
Chen Zhensheng urged the world to jointly promote a more integrated and interdependent economic and trade cooperation ecosystem, and said that this integration also needs to be adjusted at the level of various places to allow countries to obtain net benefits at the global level.
Countries must also distribute the benefits brought by globalization in their respective society to help make adjustments that are completely or relative to the community behind others.If not, countries will face the risk of internal rebound, which will bring global consequences.
In terms of mutual benefit and win -win, Chen Zhensheng pointed out that investment projects must benefit local communities, regions, and MDASH; MDash; a circle of stakeholders who are continuously expanding.By ensuring that everyone can benefit from it, so that the stakeholders have vested interests and (bearing) responsibilities from the project success.
Chen Zhensheng emphasized: Singapore supports a tolerance, market discipline and transparent lsquo; the Belt and Road Initiative.
As for the role that Singapore, which is a global trade and financial hub, can play in the Belt and Road Initiative, Chen Zhensheng pointed out that Singapore can become a pioneer of new ideas, as Chinese companies entering third-party markets, especially Southeast Asia.EssenceSingapore can also provide financing and legal consulting services, and use many participants in its infrastructure value chain to enhance the sustainability of the Belt and Road projects.
The Belt and Road Investment Cooperation Forum is co -sponsored by the Ministry of Trade and Industry of Singapore, the Singapore Enterprise Development Bureau, and the China National Development and Reform Commission.Officials attended the meeting.
This forum is a result of the Singapore Ministry of Trade and Industry and the China Development and Reform Commission in April this year in Beijing. It will be held in Beijing next year.
