5th Meeting of the Singapore-Nanjing Key Project Cooperation Committee Held in Nanjing

On the afternoon of June 30, the 5th Meeting of the Singapore-Nanjing Key Project Cooperation Committee was held in Nanjing. Nanjing Mayor Miao Ruilin and Xu Baokun, Senior Minister of State for the Singapore Ministry of Trade and Industry (MIT) and Ministry of National Development (MND), attended the meeting and delivered speeches as co-chairs of the Cooperation Committee. They also jointly signed the cooperation committee’s annual work plan for 2017-2018. Luo Dewei, consul general of the Singapore consulate in Shanghai, and Huang Lan, deputy mayor of Nanjing, also attended the event.

 


Since the 4th meeting of the Singapore-Nanjing Key Project Cooperation Committee, the two sides have steadily promoted cooperation in various fields in accordance with the committee’s annual work plan. A number of landmark cooperation projects, represented by the Singapore Nanjing Eco Hi-Tech Island program, have been progressing smoothly. According to the 2017-2018 work plan, the two sides will further deepen cooperation in economic development, technological innovation, environmental protection, personnel exchanges, education and training, health care and pension, cultural tourism, and other fields. The two sides will also continue to build the Singapore Nanjing Eco Hi-Tech Island, draw on each other’s strengths, and achieve a mutually beneficial and win-win situation.

 


After recalling the fruitful results that the cooperation committee has achieved since it was established five years ago, Miao Ruilin described Nanjing’s good momentum of economic and social development in recent years. He proposed four points for further deepening the Singapore-Nanjing cooperation. First, accelerate the construction of the Singapore Nanjing Eco Hi-Tech Island, promote the construction of projects in hand, increase the effort to attract international investments, and introduce a number of high-end industrial projects. Second, continue to improve the level of open cooperation between Singapore and Nanjing, and further deepen cooperation in areas such as high-end industrial development, industrial technology R&D, and service trades to expand joint development and results. Third, jointly develop overseas emerging markets, seize strategic opportunities, and encourage companies from both countries to jointly participate in international trade, infrastructure construction, and production capacity cooperation to achieve mutual benefit and win-win development. Fourth, steadily promote cooperation in various fields, accelerate the construction of a mechanism for regular cultural and educational exchanges between Singapore and Nanjing, and deepen pragmatic cooperation in science and technology, culture, education, health care, human resources, and other areas. Miao Ruilin expressed his hope that the two sides will further expand cooperation areas, take innovative cooperation measures, foster new cooperation advantages, create a new cooperation situation, and constantly push the Singapore-Nanjing cooperation for new and greater results.

 


Xu Baokun spoke highly of the results achieved during the long-term exchanges and cooperation between Singapore and Nanjing. He said that the cooperation committee had built an important platform for enterprises from both places to strengthen exchanges and deepen cooperation. In accordance with the annual work plan, Singapore will accelerate the construction of the Singapore Nanjing Eco Hi-Tech Island, deepen the pragmatic cooperation between the two sides in various fields, promote the development of enterprises from both countries, push the Singapore-Nanjing cooperation for more results, and create more bright spots.

 


Signing ceremonies for a number of cooperation projects, including the Singapore Nanjing Eco Hi-Tech Island International Medical Complex project, were also held at the meeting.

 


Investment and trade cooperation between Singapore and Nanjing has become closer since the Singapore-Nanjing Key Project Cooperation Committee was established nearly five years ago. Cumulatively, Singapore has invested in a total of 378 projects in Nanjing as of 2016, with a contracted investment of 2.56 billion U.S. dollars and an actual investment of 2.83 billion U.S. dollars. Singapore has become the main source of investment for Nanjing. The total import and export volume between Singapore and Nanjing stands at 640 million U.S. dollars. Nanjing enterprises have invested in a total of 25 projects in Singapore with a contracted investment of 82.66 million U.S. dollars. In the first quarter of 2017, Nanjing reported an added 14.05 million U.S. dollars in the actual use of Singapore’s investment. The import and export trade between Nanjing and Singapore totaled 170 million U.S. dollars, a year-on-year increase of 42%. Nanjing’s exports to Singapore reached 100 million U.S. dollars, a year-on-year increase of 70.3%, while Nanjing’s imports from Singapore reached70 million U.S. dollars, a year-on-year increase of 12.8%.