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Guangzhou Strengthens, Expands Relationship with Singapore

2017-04-27 17:30
-Letters of Intent (LOI) signed at the 2017 Guangzhou Fortune Global Forum Singapore Roadshow

SINGAPORE, April 27, 2017 /PRNewswire/ -- As Guangzhou prepares to host the 2017 Fortune Global Forum later this year, key representatives from the municipal government hosted a roadshow in Singapore to discuss openness, innovation and collaboration between the two commercial hubs.

At the roadshow, two Letters of Intent (LOI) were signed between Sino-Singapore International Joint Research Institute and Chinese Academy of Sciences Holdings Co., Ltd; and between Guangzhou Gas Group, Guangzhou Port Group and Royal Golden Eagle, outlining agreements on the Sino-Singapore collaboration on technology and intellectual property rights.

"Guangzhou and Singapore share many similarities, including city scale, cultural background and languages - in fact Singapore even hosted the first Fortune Global Forum years ago in 1995,"  Cai Chaolin, Guangzhou Vice Mayor, said.

"What's more, our forward-thinking outlook and cooperation through the years have enabled us to pursue meaningful projects together that enrich our economies. What lies ahead is exciting, and we look forward to more collaborations."

Today Guangzhou is among the most important business centers in China and a gateway to the outside world. The economically dynamic region is built on a centuries-old foundation of innovation and wisdom, and continues to thrive on openness and modernization.

In the last five years, Guangzhou's gross domestic product (GDP) saw an average increase of 10.1 percent, with the local service industry's growth approaching that of developed economies, representing 66.77 percent of the total GDP in 2016. Guangzhou has continued to increase its investment in advancing technologies and talent, and to improve the convenience, effectiveness and efficiency of trade facilitation and services. As a result, the relationship with, and opportunities for, Singapore in the region have been further expanded.

In recent years, Guangzhou has introduced a series of policies to encourage even more innovation in the region, and is providing on-going support for enterprises, start-ups and talent. Guangzhou also continues to further optimize the local business environment and reduce the burden on foreign enterprises through governmental self-reforms, including the streamlining of administrative examinations and approval permissions.

To develop a more business-friendly environment, Guangzhou has reduced administrative fees, set up government funds, implemented policies to lower insurance rates, and it continues to provide incentives for foreign corporations

During his visit to Singapore, Guangzhou Vice Mayor, Cai Chaolin, met key leaders and representatives in the region to discuss the next chapter for Guangzhou and Singapore, including open perspectives, innovative approaches, and jointly building an international innovative hub for technology.

He was joined by representatives from the Guangzhou government, the Chinese Embassy in Singapore, International Enterprise (IE) Singapore, A*STAR, the Intellectual Property Office of Singapore, the Nanyang Technological University, the Urban Renewal Authority, executives from the Fortune Global Forum, the Chairman of Ascendas-Singbridge, Mr. Wong Kan Seng, and corporate representatives across different industries.

"With more than 2,230 years of history, we are surely an ancient city," said Vice Mayor Cai. "But today, all eyes are on the future and what tremendous things are still to come for the region."

For more information contact:
Mr. Chen

Source: Guangzhou News Center

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