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18 Nov 2019 Updated 06 Mar 2020

Singapore companies leverage the development of the Greater Bay Area to capture new growth opportunities in Guangdong

MR No.: 079/19

Singapore, Monday, 18 November 2019

 

  1. Singapore companies will have more opportunities to partner Guangdong as the province participates in the development of the Guangdong-Hong Kong-Macau Greater Bay Area1. This was discussed at the 10th Singapore-Guangdong Collaboration Council (SGCC) meeting in Guangzhou today, co-chaired by Mr Ong Ye Kung, Minister for Education and Mr Ma Xingrui, Guangdong Governor. The Co-Chairmen signed an enhanced SGCC Memorandum of Understanding, which affirmed closer cooperation between Singapore and Guangdong in areas including innovation development, smart city, intellectual property and talent development; and also witnessed 19 project signings by Singapore and Guangdong.   
  2. Said Minister Ong, “Guangdong has always been at the frontier of economic reform in China, and in this current phase of China’s development, the Greater Bay Area will offer many new and unprecedented opportunities. Many Singapore companies are beginning to be very active in the Greater Bay Area, and I am sure many more will follow suit in time to come.” 
  3. Participating in the Greater Bay Area’s development through the China-Singapore Guangzhou Knowledge City and Singapore-China (Shenzhen) Smart City Initiative 

  4. Singapore-Guangdong collaboration will be anchored by two key projects, namely the China-Singapore Guangzhou Knowledge City (CSGKC) and the Singapore-China (Shenzhen) Smart City Initiative (SCI).
  5. The CSGKC2, which started in 2010, was elevated to a State-Level Bilateral Cooperation project in 2018. The project aims to be the hub for knowledge-based industries in the Greater Bay Area, and will provide a strong foundation to further innovation-related collaboration between Singapore and Guangdong.   
  6. One example is the partnership between the National University of Singapore, People’s Government of Guangzhou Municipality and the Sino-Singapore Guangzhou Knowledge City Administrative Committee to set up a Research Translation & Innovation Institute in CSGKC. The institute will work closely with industry partners based in Guangzhou to conduct research translation and develop intellectual property and technology solutions for commercialisation in the city and the broader China market. It will also incubate startups, and offer education programmes to nurture research talents in Guangzhou. 
  7. Singapore companies can also offer their expertise in infrastructure planning and development, urban and smart city solutions. For example, SP Group signed an MOU with Sino-Singapore Guangzhou Knowledge City Investment and Development Co. Ltd (GKC Co) to provide district cooling and heating networks and smart and clean energy solutions in CSGKC. Singapore start-up SWAT plans to work with Guangzhou No.3 Bus Co. to pilot its platform for on-demand shared bus services in industrial parks such as OneHub GKC. This shared mobility platform will offer convenient, low-cost and sustainable commute options for users, enhancing the intelligent transportation system of CSGKC.
  8. The SCI was recently formalised at the 15th Joint Council for Bilateral Cooperation (JCBC) meeting in October 2019. The project will focus on areas including digital connectivity, talent exchange and development, as well as innovation and entrepreneurship. It will connect business ecosystems, and strengthen the linkages between the people and businesses of Singapore and Shenzhen. This enables both sides to benefit from opportunities in Southeast Asia and the Greater Bay Area.
  9. Pursuing other opportunities in the Greater Bay Area

  10. Beyond these two projects, our Singapore companies are capturing new opportunities in the Greater Bay Area.
    1. Surbana Jurong signed an agreement with the Jiangmen Government to undertake the industrial development planning of the Yinhu Bay Starting Area of Zhuhai-Jiangmen high-end industrial agglomeration development zone. Building on its experience in planning, design and management of industrial new towns and parks worldwide, Surbana Jurong plans to develop an industrial development framework that is best suited for the area.
    2. Yang Kee Logistics will collaborate with China Taiping Insurance in supply chain logistics insurance risk management and insurance solutions. It will also work with Shenzhen International Supply Chain Management to tap each other’s logistics networks, catering to the supply chain needs for Singapore and Chinese companies within China as well as in Southeast Asia and beyond.

  11. Singapore’s economic relations with Guangdong province have grown significantly since the establishment of the SGCC in 2009. As of 2018, Guangdong continued to be Singapore’s top trading partner among Chinese provinces for the 30th consecutive year. In the past ten years from 2009 to 2018, Singapore’s cumulative actual investments in the province more than doubled to reach US$12.02 billion, with about 1,000 new projects.
  12. Minister Ong is currently on a business mission to Guangzhou from 17 to 19 November 2019, with a delegation comprising over 120 Singapore government and business representatives. During the trip, he called on Guangdong Party Secretary Li Xi and visited the CSGKC. He will also meet Guangzhou Party Secretary Zhang Shuofu.

     

    Annex 1: List of project signings at the 10th SGCC meeting  

    Annex 2: Background on Guangdong and Singapore-Guangdong economic relations


     

    -End-

     

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    Ms Karen KOH

    Business Partner

    Corporate Communications

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    M   : +65 9889 8816

    E    : Karen_koh@enterprisesg.gov.sg  

     

     

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    About Singapore-Guangdong Collaboration Council  

     

    The Singapore-Guangdong Collaboration Council (SGCC) was established on 24 March 2009, with the objective of promoting broader exchanges and cooperation between the business communities of Singapore and Guangdong. The launch of the SGCC was witnessed by then-Singapore Senior Minister Goh Chok Tong and then-Guangdong Party Secretary Wang Yang. Minister for Education, Ong Ye Kung, and Guangdong Governor Ma Xingrui are the Co-chairmen of the Council.

     

    Comprising leaders, government officials and private sector representatives from Singapore and Guangdong, the SGCC aims to promote cooperation between Singapore and Guangdong beyond economic areas, including training, tourism and education exchanges.



     

    [1] The Greater Bay Area is a state-level initiative to link nine cities in Guangdong with Hong Kong and Macau.

    [2] Singapore and China signed a Framework Agreement on Cooperation in the Elevated China-Singapore Guangzhou Knowledge City (CSGKC) on 12 November 2018 to deepen bilateral cooperation. With this, the CSGKC was elevated to a State-Level Bilateral Cooperation project.