Your current location:Home>Newsroom>News&Updates

Straits Times: Singapore, China ink pacts on Suzhou Industrial Park, Tianjin Eco-city and other bilateral projects

Update time:2017-02-27

Mr Lee Ark Boon (seated left), CEO of IE Singapore, and Mr Liu Guiping, Vice-Mayor of Chongqing Municipal Government, sign a memorandum of understanding to facilitate the implementation of two commercial projects aimed at improving Chongqing's transport links to South-east Asia and Central Asia on Feb 27, 2017. Witnessing the signing are Deputy Prime Minister Teo Chee Hean and Chinese Vice-Premier Zhang Gaoli.ST PHOTO: CHONG KOH PING
BEIJING - Singapore and China signed cooperation pacts for three government-led projects and one between intellectual property rights agencies of the two countries on Monday (Feb 27), a day after inking 15 agreements on mainly commercial deals.
 
Deputy Prime Minister Teo Chee Hean and Chinese Vice-Premier Zhang Gaoli witnessed Monday's signing ceremony after they reviewed the progress made in the three bilateral flagship projects and discussed the direction of future bilateral cooperation.
 
The agreements signed on Monday included cooperation in intellectual property rights protection, furthering collaboration in the biomedical industry, and the development of a transport and logistics hub.
 
Here are more details of each agreement:
 
- Suzhou Industrial Park (SIP): A letter of intent was signed by its Administrative Committee, National University of Singapore and the Institute of Molecular and Cell Biology to deepen cooperation in the biomedical industry. The industrial park, the first of three joint government projects, was started in 1994.
 
- Tianjin Eco-city: Both governments agreed to form a Joint Expert Panel, comprising experts from the government and private sectors, academic institutions and research organisations, to exchange ideas, and advise on how the city can continue to develop in a sustainable manner. 
The 30 sq km green township development broke ground in 2008. It now has a population of 70,000 and 4,500 registered companies. 
 
- Chongqing Connectivity Initiative: For this latest joint project, announced in November 2015, IE Singapore and the Chongqing Municipality Government signed a memorandum of understanding to facilitate the implementation of two commercial projects aimed at improving Chongqing's transport links to South-east Asia and Central Asia.
 
- A fourth agreement was signed between intellectual property rights agencies from both countries and the Guangdong provincial government to help facilitate the growth of innovation-driven companies. It will leverage the strategic location of the Intellectual Property reform pilot zone in Guangzhou Knowledge City. Started in 2011, the private sector-led and government-supported project aims to develop high-tech industries in Guangdong.
 
On Sunday (Feb 26), Singapore agencies signed five agreements with Tianjin Eco-city to develop infrastructure and services. Companies from the two countries also formalised 10 commercial deals. 
 
Worth around US$1.4 billion (S$1.97 billion), the deals cover transport and logistics, information and communication technology, finance and healthcare.