The Joint Council for Bilateral Cooperation (JCBC) meeting, which was co-chaired by DPM Heng Swee Keat and Chinese Vice Premier Han Zheng, is the highest-level annual forum between China and Singapore.
This meeting was held at the Four Seasons Hotel in Singapore and was the first physical meeting between representatives from both China and Singapore since the start of the COVID-19 pandemic. Chinese Vice Premier Han Zheng is the most senior Chinese leader to visit Singapore since the pandemic. This is also his first overseas trip since COVID-19 began.
At the meeting, the raft of memoranda of understanding (MOUs) and agreements that were signed covered sectors such as green development and green finance, e-commerce, public health, innovation cooperation, and tourism exchanges.
Features of the Apex meeting
- It was reported that the meeting have been very significant and it set out new directions that are in line with Singapore’s requirements, as well as China‘s new development direction.
- It was also cited that there are three wide themes in the new agreements signed, namely green, digital, and connectivity, which are considered areas of priority, not just for Singapore and China, but also for the rest of the world.
- The green-related agreements constituted drives to expand cooperation in green finance and deepen connectivity between both countries’ capital markets.
- A green finance task force will be launched by both countries, and this green finance task force will review options for collaboration in areas such as green and transition financing solutions.
- A low-carbon index family will also be jointly initiated by the stock exchanges of both countries by the year-end. This aims to serve as a model for fund managers to launch new green funds focused on China, ASEAN (Association of Southeast Asian Nations), and other Asian countries.
- Additionally, a different MOU was signed by Enterprise Singapore and the Suzhou Industrial Park’s administrative committee to heighten green development cooperation.
Beyond these deals, Mr. Heng. said there are exciting new milestones ahead.
For instance, the Sino-Singapore Tianjin Eco-City will celebrate its 15th anniversary next year. Singapore and China reaffirmed the significance of this Tianjin Eco-City as a setting for a bilateral alliance on environmental sustainability.
Also, Mr. Heng and Vice Premier Han traded views on the significance of maintaining strong people-to-people connections between Singapore and China.
Singapore has affirmed it will continue to work with China to gradually and safely restore weekly flights between both countries to pre-COVID levels.
In general, DPM Heng Swee Keat and Chinese Vice Premier Han Zheng make use of this meeting to reaffirm the healthy and longstanding relationship between Singapore and China
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