Singapore, Shanghai sign 15 agreements to boost cooperation in areas like digital economy, healthcare

SINGAPORE: Singapore and Shanghai on Monday (Apr 24) signed 15 agreements to boost cooperation in areas such as the digital economy, healthcare and tourism. 

The agreements were inked at the 4th Singapore-Shanghai Comprehensive Cooperation Council (SSCCC) meeting. It was the first physical provincial business council meeting between Singapore and China since the COVID-19 pandemic.

There are eight provincial business councils, which are co-chaired by Singapore ministers and Chinese governors in provinces such as Sichuan, Zhejiang, Guangdong and Jiangsu.

The Shanghai business council was established in 2019 and Monday's event was the first SSCCC meeting hosted in Singapore. 

It was co-chaired by Minister for Culture, Community and Youth and Second Minister for Law Edwin Tong and Shanghai Mayor Gong Zheng.

Mr Tong takes over the role from Deputy Prime Minister Lawrence Wong, who was co-chair of the council.

Mr Wong said in his welcome remarks that he had hoped to co-chair the council meeting with Mr Gong. "But with my additional responsibilities, I am unfortunately unable to continue as co-chair of the council," said Mr Wong, who was promoted to Deputy Prime Minister in June 2022.

He thanked Mr Gong for his "personal commitment and attention" to strengthening the relationship between Shanghai and Singapore.

"RESILIENT AND PROGRESSIVE TIES"

Mr Tong said Shanghai is a key partner for Singapore in trade, investments and connectivity.

“Singapore and Shanghai share resilient and progressive ties, underpinned by strong partnerships in financial services, technology and innovation, and expanded collaborations in emerging areas of digital and green economies,” the minister said.

"The SSCCC serves as an important catalyst and enabler, as we continue to pursue 'high-
quality' and 'future-oriented' partnerships between Singapore and Shanghai, following the recent upgrading of Singapore-China relations."

During their meeting, the co-chairs agreed to strengthen trade and investment ties between Singapore and Shanghai, as well as with the great Yangtze River Delta region, which includes Jiangsu, Zhejiang and Anhui. 

They also agreed to enhance bilateral cooperation in digital and green economies, as well as deepen partnerships in financial services and innovation, said Enterprise Singapore in a media release.  

The agency noted that economic ties between Singapore and Shanghai have continued to grow, with two-way trade in 2022 increasing by 8 per cent to reach nearly S$20 billion.

Among the 15 agreements signed was one involving OCBC and UnionPay International, which will establish collaboration on digital payments. 

An agreement was signed between the Singapore Tourism Board and the Shanghai Municipal Administration of Culture and Tourism to promote tourism exchanges and cooperation between the two cities.

Singapore's Ministry of Health (MOH) also signed an agreement with the Shanghai Municipal Health Commission to strengthen cooperation in healthcare.

To strengthen cultural exchanges and the development of the museum sectors in Singapore and China, an agreement was signed between the Singapore Asian Civilisations Museum and the Shanghai Museum.

Also present at the meeting was Minister of State for Trade and Industry & Culture, Community and Youth Low Yen Ling, Vice Mayor of Shanghai Hua Yuan, as well as about 120 Singapore and Chinese officials and business representatives.