From finance to food
DPM Gan noted the financial connectivity initiatives – from a secondary listing framework to a pilot for a Chinese yuan e-wallet for Singaporeans – in which “investors would be interested”.
These initiatives will deepen financial connectivity between Singapore and China, boost Singapore’s status as a financial hub and support our growth in trade, investment and people-to-people engagements,” he said.
In education, he highlighted university partnerships in areas such as advanced manufacturing, life sciences and health, and artificial intelligence, in line with
Singapore’s Research, Innovation and Enterprise 2030 priorities.
Four other ministers were on the interview panel: Minister for Digital Development and Information Josephine Teo; Minister for Manpower Tan See Leng; Senior Minister of State for Sustainability and the Environment Zaqy Mohamad; and Senior Minister of State for Culture, Community and Youth Low Yen Ling.
They each provided details of agreements and MOUs exchanged on Monday.
For instance, Teo highlighted the achievements of the CCI-New International Land-Sea Trade Corridor, a strategic trade corridor linking western China with South-east Asia and the rest of the world.
It is now being extended to central Asia, and gaining a digital component. Noting the CCI’s flexibility, she said this enables both sides “to explore other emerging areas that turn out to be fruitful”.
She also gave an update on the Joint Innovation Development Fund, which has funded 17 joint projects since its 2019 launch.
The fund will grow to 100 million yuan (S$18.3 million) from 40 million yuan now; it will also cover new areas such as green projects and support joint projects in locations beyond Singapore and Chongqing.
Dr Tan, who is also minister-in-charge of energy and science and technology, named energy as an area of continued cooperation, including exploring marine energy and China’s participation in the Asean Power Grid.
Both countries will also work together in science, technology and innovation, specifically in the key areas of health, clean energy, water and the environment.
Both sides will extend support for projects under grant calls in areas such as pandemic preparedness and ageing, as well as expand co-innovation programmes for green development cooperation.
Meanwhile, Zaqy noted that food exports from China to Singapore grew by about 36 per cent to S$1.5 billion in 2024, from S$1.1 billion in 2022.
Singapore’s agriculture exports to China have also gone up, to S$1.9 billion in 2024 from S$1.4 billion in 2022.
Highlighting agreements that would facilitate the export of processed meat products, Zaqy said: “There’s certainly mutual interest for us to expand market access, not just from China to Singapore, as a hub, (but also) for Singapore food manufacturers to expand to China and gain market access to various cities and provinces.”
In sports, Low noted an agreement for direct links between both countries’ sports associations, to exchange best practices in training, coaching and development.
DPM Gan noted that Singapore and China’s partnership is built on 35 years of trust and understanding, going beyond personal relationships between leaders.
“I think it’s this whole journey of working together, growing together, developing together, building trust and understanding with each other, generation after generation, that has culminated in today’s collaboration,” he said.
