Business China launched to help S'pore tap opportunities in China
By Wong Siew Ying, Channel NewsAsia | Posted: 19 November 2007 2026 hrs

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SINGAPORE: A new platform, Business China, has been launched to give Singapore businessmen a competitive edge on business ventures in China.

Minister Mentor Lee Kuan Yew, who mooted the idea, said Singapore hopes to nurture more people to connect with China, which is set to become one of the world's largest economy in 50 years.

Business China will provide Singapore businessmen with the tools to tap on opportunities in the emerging Chinese market.

Chinese Premier Wen Jiabao and Mr Lee officiated at the launch of the new platform, which aims to groom up to 30,000 bilingual and bi-cultural businessmen.

Speaking at the event, Mr Lee said Singapore's experience has been useful when China decided to open up trade and investment to the West.

But it is Singapore that will have to learn from the Chinese in 30 to 40 years' time, as it shapes up to be a major economic world player.

Mr Lee said: "China is in the midst of dramatic change. Every visit I make to China – and I made 27 visits in the past 30 odd years – I see different people... Their thinking, aspirations, the determination at which they are acquiring new knowledge, leave me no doubt that this is a society on the move, and we should position ourselves to connect with China."

He added that Singapore will also adjust programmes in schools to produce 1,000 students each year, who are effectively bilingual and bi-cultural.

The minister mentor said Singaporeans need three capabilities to do business in China.

These three points are fluency in the Chinese language, knowledge of China's traditional culture and an understanding of the socio-political, economic and lifestyle changes of a society in transition – from an agricultural economy to an industrial one.

Premier Wen, who spoke at the National University of Singapore, said that China will continue on its reform and open up its economy. It will also play its part in tackling climate change.

He added that Business China is a meaningful platform. "Young Singaporeans must be like the older generations and continue to uphold and promote traditions; open up and keep abreast of the world's latest innovations," said the Chinese premier.

Mr Wen also answered wide-ranging questions from students and participants on the housing and stock market situation in China.


- CNA/so