Third G2G project in Chongqing could ‘pave the way for western China’s development’

SINGAPORE — Singapore hopes that the third and latest Government-to-Government (G2G) project between the Republic and China in Chongqing will provide a “demonstrative effect” on the opening-up of western China, Prime Minister Lee Hsien Loong said.

The project focuses on developing financial services, aviation, transport and logistics, and information and communication technology in the city.

This goes beyond the hardware, and involves facilitation and simplification of systems, operations and services to enable companies to maximise their business potential.

Pointing out that a major problem for businesses in the western part of China is the vast distances, Mr Lee noted that the two countries are discussing proposals for the Southern Transport Corridor, a new trade route between western China and South-east Asia.

When completed, it will connect the overland Silk Road Economic Belt and the 21st-century Maritime Silk Road.

While the rail infrastructure is already in place, there is a need to simplify procedures and reduce time and costs for companies to move their goods more conveniently using this route, said Mr Lee, who was speaking in a recent interview with Xinhuanet.

The other two G2G projects were the Suzhou Industrial Park which started in the early 1990s, and the Tianjin Eco-city project initiated 10 years ago. Mr Lee noted that these projects were chosen because they were meaningful and valuable to both countries, and complemented China’s policy focus and development.

Last Friday (Sept 15), Deputy Prime Minister Teo Chee Hean said the Republic can be China’s “pathfinder” whenever the latter wants to do something different or simply experiment.

Speaking at the annual Singapore Summit, he was suggesting how the city-state can stay relevant to the Asian giant.

“Where there are things which China wants to try, wants to experiment with, it makes sense for us, we have some experience, we can work with China,” said Mr Teo, citing the G2G projects as examples.