- Joined
- Sep 24, 2008
- Messages
- 2,144
- Points
- 0
Good to know we are deepening ties with PRC ever more.
I now divide my time between S'pore and China. China is so beautiful and so big - even ten lifetimes will not be enough to enjoy the whole country
http://www.businesstimes.com.sg/sub/news/story/0,4574,410036,00.html?
Top Print Edition Stories
Published October 25, 2010
Sino-Singapore Knowledge City makes big strides
But talent shortage is now seen as a speed bump to project's progress
By LYNETTE KHOO
IN GUANGZHOU, GUANGDONG
THE Sino-Singapore Guangzhou Knowledge City has made big strides in the past months, with construction tenders slated to be dished out soon.
'Our target is to attract the top three companies in every industry in China, if not the world.'
- Cui Xinyu,
vice-chairman of Guangzhou Development District
But Chinese officials conceded that talent shortage is now seen as a speed bump to the project's progress.
Cui Xinyu, vice-chairman of Guangzhou Development District, told Singapore reporters last week that details of its equity structure are currently on the drawing board and pending official approval.
Temasek Holdings wholly-owned subsidiary SingBridge International and Guangzhou Knowledge City Investment and Development - a company owned by the Guangzhou Development District - will be setting up a 50-50 joint venture to develop the project.
'Our target is to attract the top three companies in every industry in China, if not the world,' Mr Cui said. The Knowledge City is also interested to attract international companies to set up shop there.
Since the groundbreaking ceremony on June 30, the project has made tremendous progress in just a short span of a few months, Mr Cui added.
It has received significant government endorsement and support. The Knowledge City has also come under the ambit of the China-Singapore Joint Council for Bilateral Cooperation (JCBC), the highest level of bilateral mechanism that meets annually.
Already, there are some 33 collaborations sealed in memoranda of understanding (MOUs) at the groundbreaking ceremony in June.
Major economic benefits are expected to stream in from the Knowledge City project.
Its first phase, expected to be completed by 2015, is estimated to house some 500 companies and generate 30 billion yuan (S$5.84 billion) in GDP. The number of companies there is expected to rise to 2,000 by the second phase in 2020, generating estimated GDP of 100 billion yuan.
When its third phase is completed by 2030, the Knowledge City is expected to house 300,000 residents each with an annual income of 300,000 yuan, and its GDP contribution is estimated to hit 300 billion yuan.
According to Wilson Fu, deputy director of Economic Development and Science & Technology Bureau of Guangzhou Development District, these numbers were derived by two Chinese think tanks during the joint feasibility study by the two governments.
But Mr Cui noted that it is a challenge for the Knowledge City project to meet the tight development timeline and the full content of the plans. Whether Guangzhou can attract top talent will determine the pace of its development and the Knowledge City project, he said.
Talent shortage has become a critical challenge as Guangdong pursues economic transformation and industrial upgrading. The Knowledge City, which sits on a 123 square kilometre plot in Guangzhou, is a major part of that drive towards high-tech and knowledge-based development.
Increased competition from other cities, however, means that Guangzhou has to speed up or risk falling behind, Mr Cui said.
Guangdong, which accounts for 12 per cent of China's economic output, is Singapore's second largest investment destination and top trading partner in China. Last year, Singapore companies pumped US$440 million into 52 projects in Guangdong, bringing total cumulative investments to 2,004 projects worth US$5.9 billion.
Li Yuanlin, director of Guangdong's Foreign Affairs Office, said that Guangdong can no longer rely on low-cost and labour-intensive manufacturing, amid rising labour costs and competition from cheaper locations.
Guangdong hopes to learn from Singapore's experience in economic transformation and tap the expertise of Singapore companies in sectors such as modern logistic services, education and healthcare, Chinese officials said.
Keppel Logistics, Mapletree Investment and Jurong International already have logistic projects in Foshan city in Guangdong. Singapore food brands Yeo Hiap Seng and Breadtalk have also set up shops in Guangdong province.
CapitaLand, which is building its first Raffles City project in South China in Shenzhen city, will begin piling work for the project next year.
IE Singapore regional director for South China region Law Chung Ming said that Singapore hopes to engage Guangdong and municipal leaders in the Pearl River Delta region and help Guangdong companies internationalise.
The Singapore-Guangdong Collaboration Council (SGCC), set up last year, provides such a platform, he added. The SGCC's key focus sectors are port and logistics, infocomms technology, and education and training.
In July, the SGCC added healthcare services, a heavily regulated sector in China, as a focus sector. Singapore-based SGP International Management Academy (SIMA) is now working with Changcheng District Central Hospital of Foshan City to provide training.
I now divide my time between S'pore and China. China is so beautiful and so big - even ten lifetimes will not be enough to enjoy the whole country
http://www.businesstimes.com.sg/sub/news/story/0,4574,410036,00.html?
Top Print Edition Stories
Published October 25, 2010
Sino-Singapore Knowledge City makes big strides
But talent shortage is now seen as a speed bump to project's progress
By LYNETTE KHOO
IN GUANGZHOU, GUANGDONG
THE Sino-Singapore Guangzhou Knowledge City has made big strides in the past months, with construction tenders slated to be dished out soon.
'Our target is to attract the top three companies in every industry in China, if not the world.'
- Cui Xinyu,
vice-chairman of Guangzhou Development District
But Chinese officials conceded that talent shortage is now seen as a speed bump to the project's progress.
Cui Xinyu, vice-chairman of Guangzhou Development District, told Singapore reporters last week that details of its equity structure are currently on the drawing board and pending official approval.
Temasek Holdings wholly-owned subsidiary SingBridge International and Guangzhou Knowledge City Investment and Development - a company owned by the Guangzhou Development District - will be setting up a 50-50 joint venture to develop the project.
'Our target is to attract the top three companies in every industry in China, if not the world,' Mr Cui said. The Knowledge City is also interested to attract international companies to set up shop there.
Since the groundbreaking ceremony on June 30, the project has made tremendous progress in just a short span of a few months, Mr Cui added.
It has received significant government endorsement and support. The Knowledge City has also come under the ambit of the China-Singapore Joint Council for Bilateral Cooperation (JCBC), the highest level of bilateral mechanism that meets annually.
Already, there are some 33 collaborations sealed in memoranda of understanding (MOUs) at the groundbreaking ceremony in June.
Major economic benefits are expected to stream in from the Knowledge City project.
Its first phase, expected to be completed by 2015, is estimated to house some 500 companies and generate 30 billion yuan (S$5.84 billion) in GDP. The number of companies there is expected to rise to 2,000 by the second phase in 2020, generating estimated GDP of 100 billion yuan.
When its third phase is completed by 2030, the Knowledge City is expected to house 300,000 residents each with an annual income of 300,000 yuan, and its GDP contribution is estimated to hit 300 billion yuan.
According to Wilson Fu, deputy director of Economic Development and Science & Technology Bureau of Guangzhou Development District, these numbers were derived by two Chinese think tanks during the joint feasibility study by the two governments.
But Mr Cui noted that it is a challenge for the Knowledge City project to meet the tight development timeline and the full content of the plans. Whether Guangzhou can attract top talent will determine the pace of its development and the Knowledge City project, he said.
Talent shortage has become a critical challenge as Guangdong pursues economic transformation and industrial upgrading. The Knowledge City, which sits on a 123 square kilometre plot in Guangzhou, is a major part of that drive towards high-tech and knowledge-based development.
Increased competition from other cities, however, means that Guangzhou has to speed up or risk falling behind, Mr Cui said.
Guangdong, which accounts for 12 per cent of China's economic output, is Singapore's second largest investment destination and top trading partner in China. Last year, Singapore companies pumped US$440 million into 52 projects in Guangdong, bringing total cumulative investments to 2,004 projects worth US$5.9 billion.
Li Yuanlin, director of Guangdong's Foreign Affairs Office, said that Guangdong can no longer rely on low-cost and labour-intensive manufacturing, amid rising labour costs and competition from cheaper locations.
Guangdong hopes to learn from Singapore's experience in economic transformation and tap the expertise of Singapore companies in sectors such as modern logistic services, education and healthcare, Chinese officials said.
Keppel Logistics, Mapletree Investment and Jurong International already have logistic projects in Foshan city in Guangdong. Singapore food brands Yeo Hiap Seng and Breadtalk have also set up shops in Guangdong province.
CapitaLand, which is building its first Raffles City project in South China in Shenzhen city, will begin piling work for the project next year.
IE Singapore regional director for South China region Law Chung Ming said that Singapore hopes to engage Guangdong and municipal leaders in the Pearl River Delta region and help Guangdong companies internationalise.
The Singapore-Guangdong Collaboration Council (SGCC), set up last year, provides such a platform, he added. The SGCC's key focus sectors are port and logistics, infocomms technology, and education and training.
In July, the SGCC added healthcare services, a heavily regulated sector in China, as a focus sector. Singapore-based SGP International Management Academy (SIMA) is now working with Changcheng District Central Hospital of Foshan City to provide training.
