17 Nov 2017

MR No.: 050/17

Singapore, Friday, 17 November 2017


  1. Singapore companies in technology, innovation and services will now find it easier to capture opportunities in Sichuan province as West China’s leading province for technology pushes innovation reform through the Sichuan Free Trade Zone (FTZ) and Singapore-Sichuan Hi-Tech Innovation Park (SSCIP). (Please refer to Annex 1 for infographic on Sichuan FTZ). These were discussed at the 18th Singapore-Sichuan Trade and Investment Committee (SSTIC) meeting co-chaired by Minister for Education (Schools) and Second Minister for Transport, Ng Chee Meng, and Sichuan Vice-Governor Zhu Hexin in Singapore today. At the meeting, seven Memoranda of Understanding (MOUs) were signed with Sichuan counterparts for partnerships in these areas.

  2. Organised by International Enterprise (IE) Singapore, the Singapore secretariat for the Council, over 120 government and business representatives from Singapore and Sichuan attended the meeting. Sichuan Vice-Governor Zhu is currently in Singapore on a business mission with 32 officials and businessmen from the region.

  3. Said Minister Ng, “Singapore continues to be the top foreign investor country in Sichuan. We hope to deepen our collaboration with Sichuan in technology, innovation and services through the Sichuan Free Trade Zone and Singapore-Sichuan Hi-Tech Innovation Park (SSCIP). One such initiative is the SSCIP-Singapore Innovation Centre, which will serve as a platform to demonstrate new technologies and innovations for in-market adoption. The new policies in the Sichuan Free Trade Zone also create opportunities for our companies in healthcare, education and financial services.” (Please refer to Annex 2 for the speech by Minister Ng)

  4. In 2016, Sichuan’s GDP grew 7.7% to reach S$660 billion1, above the national GDP growth of 6.7%. The Sichuan government is promoting innovation by focusing on building new test-bedding platforms, strengthening collaborations between industries and institutes of higher learning, and encouraging technology developments in electronics, automotive and new energy. Chengdu, the provincial capital of Sichuan, is also among the top 10 most start-up friendly cities in China.

  5. The Sichuan FTZ2 launched in April 2017 plays a key role in this reform. IE Singapore signed a MOU with the Sichuan provincial government today, forming direct access to the government to help Singapore companies access opportunities in the FTZ. IE Singapore and Sichuan officials will also form a workgroup to facilitate partnerships. This expands IE Singapore’s collaboration3 with Sichuan and will help Singapore companies capture more opportunities in the FTZ. A FTZ streamlines procedures and boosts market access for foreign firms. This is the first FTZ in China where IE Singapore has developed both provincial-level and city-level networks to ease the entry of Singapore companies into the province.

  6. Another key project in the FTZ is SSCIP, led by Sembcorp Development. To date, it has secured 29 projects, with total investments of about S$5.2 billion. To drive more partnerships in technology and innovation, IE Singapore signed a MOU with SSCIP, Chengdu Hi-tech Zone and Millet World4 to develop the SSCIP-Singapore Innovation Centre to encourage collaboration between Singapore and Chinese companies, including leveraging Sichuan as a testbed for new innovations for China and the rest of the world.

  7. SMEs currently entering the province include (Please see Annex 3 for the list of MOUs signed during SSTIC 2017): -

    • Metaverse Systems5 will gain access to China’s edutainment market through an MOU with SSCIP to establish Future@Work, a first-of-its-kind integrated technology showcase centre and children theme park. Future@Work will combine virtual reality, augmented reality, robotics and futuristic imagination, and is targeted at children aged 3 to 15 years old.

    • Gashub6 signed a MOU with Chengdu Huaqi Houpu Holding (成都华气厚普机电设备股份有限公司) to collaborate on technology and knowledge transfer. Chengdu Huaqi Houpu is China’s leading provider of integrated clean energy solutions, and will partner Gashub to acquire new technologies and export to other markets.

    • Parkway Pantai and SSCIP signed an MOU to explore developing a high-end women and children’s hospital in SSCIP.

    • Dreamkids Holdings7 signed a MOU with Sichuan Guan He Tai Education Technology (四川冠合泰教育科技有限公司) to build a preschool in Sichuan, offering premium education services for children aged 6 months to 6 years old. This is the first Singapore company to customise learning programmes in Sichuan using 3D brainwaves.

    • In other recent developments, Startup HQ, which opened their incubation centre in Chengdu last year, has brought in 40 technology start-ups to date. IE Singapore also led eight Singapore companies8 to the fifth China (Mianyang) Hi-Tech Expo in September 2017, the largest technology trade show in West China. Etonhouse opened three preschools in Sichuan province this year, bringing their total presence in Sichuan to six.

  8. In 2016, Singapore was the top foreign investor country in Sichuan. Last year, Singapore’s actual investment in Sichuan reached around S$530.4 million, bringing total cumulative actual investments to around S$8.1 billion with 562 projects, the largest among provinces in West China. In 2016, Singapore-Sichuan bilateral trade reached around S$1.1 billion9. From January to September 2017, bilateral trade increased 27% to reach S$918.4 million.

  9. In conjunction with the 18th SSTIC meeting, IE Singapore and the Chengdu government also organised a Sichuan (Chengdu) FTZ seminar to help Singapore companies understand the opportunities brought by the Sichuan FTZ, as well as the SSCIP, which is located within the FTZ. (Please refer to Annex 2 for the speech by Minister Ng)


Annex 1: Sichuan FTZ infographic

Annex 2: Speech by Minister Ng Chee Meng

Annex 3: List of Memoranda of Understanding (MOUs)

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About International Enterprise Singapore

IE Singapore is the government agency that promotes international trade and partners Singapore companies to go global.

We attract and anchor global trading companies in Singapore by promoting our unique advantages as a global trading hub. Today, Singapore is home to a complete ecosystem for the energy, agri-commodities and metals & minerals trading clusters.

Through our network of over 35 overseas centres and comprehensive assistance programmes, we partner Singapore companies to strengthen their global competitiveness.

IE Singapore will merge with SPRING Singapore to form Enterprise Singapore in Q2 2018. Enterprise Singapore will enable the growth of Singapore companies through an integrated support network to build business capabilities and access overseas markets.

Visit www.iesingapore.gov.sg for more information.


About Singapore–Sichuan Trade and Investment Committee

The Singapore-Sichuan Trade and Investment Committee (SSTIC) is a bilateral economic framework aimed at strengthening Singapore's economic relations with the Sichuan Province. It was formed in May 1996 and comprises public and private sector members from Singapore and Sichuan.

Mr Lim Swee Say, Minister, Ministry of Manpower, and Mr Yin Li, Sichuan Governor, are Advisors to the committee while Minister Ng Chee Meng, Minister for Education (Schools) and Second Minister for Transport, and Mr Zhu Hexin, Sichuan Vice-Governor, are Co-Chairmen of the SSTIC.

IE Singapore is the Secretariat to the SSTIC in Singapore.



Annex 1

sichuan, free trade zone, sscip, ftz 

Annex 3

No

List of MOUs

1

IE Singapore – Sichuan Provincial Department of Commerce

MOU for Economic and Trading Collaboration between Singapore and Sichuan for Sichuan Free Trade Zone

 

2

IE Singapore – Chengdu Hi-tech Zone – Sino-Singapore (Chengdu) Innovation Park Development Co. Ltd. – Millet World Pte Ltd

SSCIP-Singapore Innovation Centre

 

3

Greater China Operations Division Parkway Pantai – Sino-Singapore (Chengdu) Innovation Park Development Co. Ltd.

MOU for High-end Medical Facility

 

4

Sino-Singapore (Chengdu) Innovation Park Development Co. Ltd. – Metaverse Systems Pte. Ltd.

Future@Work, Integrated Technology Showcase Centre and Children Theme Park

 

5

GasHubUnited Holding Pte. Ltd. – Chengdu Huaqi Houpu Holding Co. Ltd.

Collaboration for Technology Transfer and Internationalisation

 

6

Dreamkids Holdings Pte. Ltd. – Si Chuan Guan He Tai Education Technology Pte. Ltd.

MOU to form a joint venture for a preschool

 

7

CPG Corporation Pte. Ltd – China Railway Eryuan Engineering Group Co. Ltd

Cooperation Framework Agreement

 

 


[1] Sichuan Statistic Bureau, Sichuan Department of Commerce

[2] Launched on 1 April 2017. China’s announcement on its third batch of FTZs include Chongqing, Henan, Hubei, Liaoning, Shaanxi, Sichuan and Zhejiang. The 120-sqkm Sichuan FTZ is a gateway between coastal and inland China, covering three areas across Chengdu and Luzhou cities (Tianfu New Area, Qingbaijiang District, Luzhou Port).

[3] This adds to the MOU IE Singapore signed with the Chengdu government in June this year.

[4] Millet World specialises in creative place and space management and developing platforms for the promotion of geographical expansion and growth of Singapore SMEs through the Millet World Trading Post.

[5] Metaverse Systems is a New Millennium business with two core business operations: consulting services and transformational business solutions, and intellectual property creation

[6] Gashub is a gas piping and engineering services specialist in Singapore.

[7] Dreamkids Holdings is an unconventional, happy bilingual preschool with a strong emphasis on building the human spirit and values, as well as equipping the essential 21st century skills in our children.

[8] Akrisbis, Ademco, Memiontec, Y3, Ethoz, ADVO, Fooyo and Swotfish.

[9] Sichuan Statistic Bureau, Sichuan Department of Commerce