20th Joint Council for Bilateral Cooperation and Related Joint Steering Council Meetings in Singapore

Deputy Prime Minister (DPM) and Minister for Trade and Industry Gan Kim Yong co-chaired the 20th Joint Council for Bilateral Cooperation (JCBC), the 25th China-Singapore Suzhou Industrial Park (SIP) Joint Steering Council (JSC), the 16th Sino-Singapore Tianjin Eco-city (TEC) JSC, and the 8th China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity (CCI) JSC meetings with Vice Premier of the State Council of the People's Republic of China (PRC) Ding Xuexiang in Singapore on 11 November 2024.

Bilateral Meeting between Deputy Prime Minister Gan and Vice Premier Ding

DPM Gan and Vice Premier Ding had a bilateral meeting prior to the JCBC and related JSC meetings. Noting that this was the 20th anniversary of the JCBC, the two leaders reaffirmed the strong and longstanding partnership between Singapore and China. This is reflected in the JCBC, which has evolved over the years in step with the development of both countries. From the initial focus on development-oriented initiatives like trade, human resource development, and environmental and water resources, both sides have broadened cooperation areas over the years to include the digital and green economies, legal and judicial cooperation, and cultural cooperation. The JCBC co-Chairs reaffirmed both countries' commitment to continue using the JCBC as the apex platform to chart the strategic direction for bilateral cooperation.

The two leaders discussed potential areas for collaboration in emerging sectors. Amidst an uncertain global environment, DPM Gan and Vice Premier Ding noted the importance of deepening digital connectivity between both countries and the region to enhance trade and financial connectivity, and to boost economic development. They agreed that both countries should continue to deepen cooperation in the green economy, including in new sources of renewable energy, green and transition finance, decarbonisation, and food security. Both countries should also leverage on their mutual strengths in innovation and technology as new drivers of growth, as well as facilitate people-to-people and cultural exchanges to strengthen ties.

20th JCBC saw 25 Memoranda of Understanding (MOUs) and agreements announced

The 20th JCBC meeting reviewed the progress of bilateral cooperation in a wide range of areas, including the Belt and Road Initiative (BRI), trade, sustainability, food security, the digital economy and cross-border data flows, smart cities, green economy, science and innovation, renewable energy, finance, education, public health, human resource development, as well as the China-Singapore Guangzhou Knowledge City, which is a State-Level Bilateral Cooperation Project.

DPM Gan and Vice Premier Ding agreed that both sides should continue to collaborate and tap on opportunities in emerging areas to deliver high-quality outcomes that will benefit both countries and contribute to regional prosperity. In this regard, DPM Gan and Vice Premier Ding announced both sides' commitment to ensuring that the China-Singapore Free Trade Agreement (CSFTA) Further Upgrade Protocol would enter into force on 31 December 2024. The two co-Chairs also lauded the SIP's status as a pathfinder and model for bilateral cooperation three decades since its inception. They agreed to continue supporting the SIP's transformation into an open, innovative and world-class high-tech industrial park in the next phase of its development. As part of ongoing efforts to strengthen digital and green cooperation, both sides agreed to work towards establishing a national-level Green and Digital Shipping Corridor. Both sides also agreed on new green finance and capital markets initiatives that would catalyse greater financing flows, and deepen our respective financial markets. Initiatives to deepen educational collaborations and strengthen cultural exchanges were also discussed, including through the launch of a new Action Plan for university collaborations. Both sides looked forward to continued exchanges on leadership development and social governance. Both sides strengthened cooperation on food security, through the signing of protocols for the export of farmed fish and fish products from Singapore to China.

25 MOUs and agreements were announced at the JCBC:

a) Cooperation Plan between the Government of the People's Republic of China and the Government of the Republic of Singapore on Jointly Promoting the Belt and Road Initiative

b) MOU between MTI, the PRC Ministry of Commerce, and the Chongqing Municipal People's Government on Piloting Projects under the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity

c) Announcement of Joint Intention to Establish Singapore-China Green and Digital Shipping Corridor (GDSC)

d) MOU between MPA and Shandong Provincial Transport Department on Singapore-Shandong Green and Digital Shipping Corridor (GDSC)

e) MOU between MPA and Suzhou Industrial Park Administrative Committee (SIPAC) on Cooperation in Digital and Green Maritime Innovation

f) Announcement that both sides are committed to ensuring that the China-Singapore Free Trade Agreement (CSFTA) Further Upgrade Protocol will enter into force on 31 December 2024

g) Announcement of MOU between MND and Tianjin Municipal Government on Strengthening Cooperation under the Singapore-Tianjin Economic and Trade Council

h) Announcement of Protocol on Inspection, Quarantine, and Veterinary Sanitary Requirements for Farmed Aquatic Products from the Republic of Singapore to the People's Republic of China

i) MOU between Singapore Customs and the General Administration of Customs of The People's Republic of China on the Implementation of Electronic Origin Data Exchange System (EODES) under the Regional Comprehensive Economic Partnership (RCEP) Agreement

j) MOU between IMDA and Suzhou Industrial Park Administrative Committee (SIPAC) on Digital Economy Cooperation

k) Announcement of Cooperation Agreement between A*STAR and the Chinese Academy of Sciences

l) Renewal of the Implementation Agreement (IA) between NRF and PRC Ministry of Science and Technology (MOST) on Cooperation in Science, Technology and Innovation

m) MOU between NTU Energy Research Institute and PRC National Ocean Technology Center (NOTC) on Marine Renewable Energy Technology Cooperation

n) Announcement of Green Finance Cooperation between MAS and People's Bank of China (PBOC) on Taxonomy Mapping and Facilitating Green Finance Flows via a Green Corridor

o) Announcement to explore Piloting the "Over-the-Counter" Bond Market Framework between China and Singapore

p) Announcement of First Listing of Panda Bond in Singapore

q) Announcement of Strengthening Collaboration on Indices and Expanding New Exchange Traded Funds (ETF) Products on ETF Product Links

r) Announcement of Strengthening Regulatory Cooperation and Communication, and Welcoming the Organisation of the 9th CSRC-MAS Supervisory Roundtable and the Implementation of the Staff Exchange Programme

s) MOU on Gold Cooperation between United Overseas Bank (UOB) and Shanghai Gold Exchange

t) Announcement of Framework Agreement between MFA and the PRC Ministry of Foreign Affairs on the Exchange Programme for Middle- to Senior-Level Officials (2025 - 2029)

u) Announcement of the Establishment of Action Plan between MOE and PRC Ministry of Education (MOE) on University Collaboration

v) Announcement of the Establishment of Action Plan between MOE and PRC Ministry of Education (MOE) on Educational Technology Cooperation

w) Announcement of the 10th Singapore-China Executive Programme for Cultural Cooperation (2025 - 2029)

x) MOU between Singapore's interim Communicable Diseases Agency (iCDA) and Chinese Center for Disease Control and Prevention

y) MOU between MND and PRC National Development and Reform Commission (NDRC) to Strengthen Collaboration in Urban Governance, Urban Planning, and Management

25th SIP JSC Meeting

The 25th SIP JSC commended the SIP's achievements and underscored its continued role as a pathfinder for bilateral cooperation as it celebrates its 30th anniversary. The meeting emphasised the SIP's importance as an important platform to facilitate new collaboration opportunities, encourage innovative partnerships between Singapore and Chinese businesses, and deepen people-to-people ties. Both sides supported the development of a stronger cooperation agenda through a 10-year Cooperation Blueprint, with a focus on areas such as green development, the biomedical sciences, and the digital economy.

16th SSTEC JSC Meeting

The 16th SSTEC JSC Meeting welcomed the progress made in deepening cooperation on the development of the Eco-City as an upgraded National Green Development Demonstration Zone. Since the Demonstration Zone was announced at last year's JCBC meeting, both countries have put in place policies and governance mechanisms to support the Eco-City's growth as an incubator for green enterprises and a model of low-carbon urban living. Both sides have continued efforts to strengthen the Eco-City as a test-bed for net-zero innovation and raised awareness of investment possibilities in the Eco-City for companies. Singapore and China will continue to leverage on the Demonstration Zone to jointly unlock new growth opportunities in a green economy.

8th CCI JSC Meeting

The 8th CCI JSC recognised the CCI's role as a priority demonstration project that has catalysed a diverse range of collaboration between Singapore and China. Singapore also reaffirmed our commitment to keep the CCI at the forefront of innovation by strengthening the digital and green elements in the CCI's four priority areas. The meeting noted the continued development of the CCI-New International Land-Sea Trade Corridor as a viable trade route. Ahead of the CCI's 10th anniversary in 2025, both sides expressed their commitment to bring the CCI to new heights by piloting innovative initiatives and unlocking new opportunities for both countries.

SIP 30th Anniversary Commemorative Tree-Planting Ceremony

To commemorate the 30th anniversary of the establishment of the SIP, DPM Gan and Vice Premier Ding officiated a tree-planting ceremony at the Singapore Botanic Gardens on 10 November 2024. They were joined by Minister-in-charge of the SIP Chan Chun Sing and Jiangsu Governor Xu Kunlin. A corresponding tree-planting ceremony will take place in the SIP during the 30th anniversary commemorative event in end-November 2024.

On the Singapore side, the JCBC and related JSC meetings were attended by Minister (Foreign Affairs) Dr Vivian Balakrishnan, Minister (Education) Chan Chun Sing, Minister (Health) Ong Ye Kung, Minister (National Development) Desmond Lee, Minister (Digital Development and Information) and 2Minister (Home Affairs) Josephine Teo, Minister (Culture, Community and Youth) and 2Minister (Law) Edwin Tong, Minister (Manpower) and 2Minister (Trade and Industry) Dr Tan See Leng, Minister (Transport) and 2Minister (Finance) Chee Hong Tat, Senior Minister of State (Foreign Affairs)(National Development) Sim Ann, Senior Minister of State (Digital Development and Information)(Health) Dr Janil Puthucheary, Senior Minister of State (Sustainability and Environment)(Manpower) Dr Koh Poh Koon, Senior Minister of State (Digital Development and Information)(National Development) Tan Kiat How, and Senior Minister of State (Trade and Industry)(Culture, Community and Youth) Low Yen Ling.

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PRIME MINISTER'S OFFICE
SINGAPORE
11 NOVEMBER 2024

Topics: Economy , Foreign affairs