This year marks the fifth year of the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity (CCI).
The CPC Central Committee and the State Council recently issued the Guiding Opinions on Forging A New Pattern in the Development of the Western Regions in the New Era, which clearly proposes to implement the CCI actively. How will Singapore work with Chongqing to make the CCI a new highlight in their cooperation? Mr. Luke Goh Peng Ee, Deputy Secretary of the Ministry of Trade and Industry of Singapore, shared his views on this issue.
Why will Singapore host the Smart China Expo (SCE) with Chongqing this year?
Q: As the guest of honor of the previous two sessions of the SCE, Singapore has added a lot of new impetus to the realization of "Empowering Economy, Enriching Life" through big data intelligentization. So, what factors have driven Singapore from the guest of honor to host? What different fresh plans will Singapore have after it becomes the host?
The opening ceremony of the 2019 Smart China Expo.
Mr. Luke Goh Peng Ee: We are honored to be the guest of honor at the past two sessions of the SCE, and we are pleased to establish a good working relationship with the Chongqing Municipal Government. The Expo will help Singapore businesses better understand the business environment in Chongqing and western China and find new partners.
Being an organizer reflects our commitment to this event. This year's expo will focus on startups and encourage more communications and interactions between startups in Singapore and Chongqing, as well as other provinces in western China. We will also set up a national pavilion to showcase the products and technology solutions of Singapore enterprises so that participants can learn about successful examples of digital technology. Participants will also have the opportunity to attend a corporate exchange held by us to learn with other companies how to explore business opportunities in Southeast Asia and western China through the "twin hubs"--Singapore and Chongqing.
How can dedicated data channels work better?
Q: Thanks to the joint efforts of Chongqing and Singapore, the China-Singapore (Chongqing) Dedicated Channel on International Internet Data was successfully opened last year. In your opinion, how will the two sides promote the development of the dedicated data channel in the next stage?
Mr. Luke Goh Peng Ee: The Infocomm Media Development Authority (IMDA) and Chongqing Big Data Bureau have set up a working group to push for the development of the dedicated data channel. The working group consists of representatives from government agencies, telecommunications companies, and related industries in Singapore and Chongqing. Workshops about this channel will also be held at this year's SCE. In addition, local enterprises in both regions will work to promote the use of the dedicated data channel via their respective platforms. They have also begun to develop and discuss new business models due to the technical standards brought by the opening of the channel. This will help boost bilateral cooperation and strengthen digital connectivity between the two regions, and even between Southeast Asia and western China.
All sides should strengthen cooperation to create new highlights
Q: Since the CCI has been in place for five years, how do you evaluate the effectiveness of the project? China and Singapore are committed to making the project a new highlight in bilateral cooperation. In your opinion, in what areas can the two sides ramp up participation and create new highlights in the next step?
Mr. Luke Goh Peng Ee: CCI has made good progress since its launch. Bilateral cross-border financing, for example, had reached about USD 11 billion by the end of 2019. In the aviation sector, the number of passengers traveling between Singapore and Chongqing also showed a rising trend, with 14 flights between the two cities each week. Last year, we also successfully launched the only data transmission channel between Singapore and Chongqing, namely the China-Singapore (Chongqing) Dedicated Channel on International Internet Data.
In the future, the two sides will establish closer ties in all areas to create new highlights. In financial services, the two sides are exploring ways to cooperate in areas such as green finance and natural disaster insurance. We are also working with the Ministry of Commerce to draw up a joint plan for the New International Land-Sea Trade Corridor (ILSTC) to explore how to tap its potential further. In the field of information communications, we are working with Chongqing Big Data Bureau to explore how to improve the performance of the dedicated data channel and explore its potential business opportunities.