Latest news with #AnnualMeetingoftheNewChampions
Barnama
13 hours ago
- Business
- Barnama
Singapore PM Undertakes Introductory Visit To China, Attends Summer Davos
Singapore's Prime Minister Lawrence Wong speaks during a swearing-in ceremony of Singapore's new Cabinet ministers at the Istana, in Singapore, May 23, 2025. REUTERS/Edgar Su By Nur Ashikin Abdul Aziz SINGAPORE, June 22 (Bernama) -- Singapore Prime Minister Lawrence Wong will make a five-day official visit to China from Sunday at the invitation of Premier Li Qiang, according to the Prime Minister's Office (PMO). PMO said Wong's introductory visit will see both sides commemorate the 35th anniversary of the establishment of Singapore-China diplomatic relations and reaffirm mutual commitment to strengthen bilateral ties. bootstrap slideshow 'It is also an opportunity for leaders on both sides to exchange views on bilateral issues as well as regional and international developments,' PMO said in a statement on Sunday. In Beijing, Wong, who is also the Finance Minister, will meet President Xi Jinping, Premier Li, and Chairman of the National People's Congress Zhao Leji. Wong will also travel to Tianjin to attend the World Economic Forum's (WEF) Annual Meeting of the New Champions (Summer Davos) and participate in a dialogue session with WEF President Børge Brende. The prime minister's delegation includes Foreign Minister Dr Vivian Balakrishnan, Sustainability and Environment Minister and Minister-in-charge of Trade Relations Grace Fu, Acting Minister for Transport and Senior Minister of State for Finance Jeffrey Siow, Senior Minister of State for Foreign Affairs and for Home Affairs Sim Ann, and Member of Parliament Dr Syed Harun Alhabsyi. -- BERNAMA
RTHK
18 hours ago
- Business
- RTHK
HK's financial centre position strengthening: FS
HK's financial centre position strengthening: FS Paul Chan said the SAR's economy has demonstrated strong resilience, achieving nine consecutive quarters of GDP growth. File photo: RTHK Financial Secretary Paul Chan says Hong Kong's position as an international financial centre is strengthening, citing increased trading volumes and its leading global IPO market. Writing in his weekly blog on Sunday, Chan said the SAR's economy has demonstrated strong resilience, achieving nine consecutive quarters of GDP growth and surpassing HK$3 trillion. He said the stock market regained an upward trajectory over the past year, marked by significant increases in trading volume, with the average daily turnover now exceeding HK$240 billion. Chan noted that since Hong Kong Exchanges and Clearing added chapter 18A to its main board listings rules – enabling listings for biotech companies without revenue or profits – the number of such companies has risen significantly. "Since the implementation of the '18A' reform in 2018, the number of newly listed companies in the new economy and biotechnology sectors has risen to about 370, accounting for approximately 14 percent of all listed companies, with a market capitalisation share exceeding 27 percent and trading volume share surpassing 30 percent," he said. "The '18C' reform introduced in 2023, along with the recent proposal for a 'Technology Enterprises Channel' and the facilitation of the return of China concept stocks listed in the United States, reflects our ongoing assessment of circumstances and commitment to reform, continually enhancing the attractiveness and competitiveness of the stock market." Turning to innovation, the finance chief reported significant investment in research and development (R&D) and growth in start-ups, expressing expectations for Hong Kong to become a top cross-border wealth management hub. "Innovation and technology is another important engine for Hong Kong's economic development. Local R&D expenditure approached HK$33 billion in 2023, rising 10 percent year-on-year. The number of local start-ups reached a record high of about 4,700 by the end of last year," he said. "Science Park and Cyberport, as flagship innovation and technology hubs, have nurtured and supported 22 listed companies and 20 unicorns, with their start-ups holding over 700 intellectual property rights." Chan also said he will lead a delegation of about 30 start-up representatives to the World Economic Forum's Annual Meeting of the New Champions in Tianjin. He said the goal is to introduce Hong Kong's examples in innovative technology R&D and application to international investors and innovation leaders.
Business Times
21 hours ago
- Business
- Business Times
PM Wong on five-day official visit to China, to mark 35 years of bilateral relations
[BEIJING] Prime Minister Lawrence Wong will make an official visit to China from Sunday (Jun 22) to Thursday, at the invitation of Chinese Premier Li Qiang, the Prime Minister's Office (PMO) announced in a statement. While PM Wong has previously visited China on many occasions, this will be his first trip to the world's second-largest economy since he became prime minister a little over a year ago. On this five-day trip, he will travel to the capital Beijing, as well as Tianjin. During his stay in Beijing, PM Wong will meet President Xi Jinping, Li – who will also host him at a welcome ceremony and dinner banquet – and National People's Congress chairman Zhao Leji. Zhao is the country's former anti-corruption chief and currently the third most senior official in China's ruling Communist Party PM Wong previously met Li in October last year and Xi a month later, both on the sidelines of multilateral meetings. This week's meeting with Zhao will be his first. PM Wong will also attend a reception in Beijing where he will engage Singaporeans living in China. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up In Tianjin, PM Wong will attend the World Economic Forum's (WEF) Annual Meeting of the New Champions, or Summer Davos, themed 'Entrepreneurship for a New Era' this year. While there, he will participate in a dialogue session with WEF president Borge Brende and join other foreign leaders attending the event at a dinner hosted by Li. The PMO statement said that PM Wong's introductory visit to China comes as the two countries commemorate 35 years of diplomatic relations and 'reaffirm the mutual commitment' to strengthen bilateral ties. 'It is also an opportunity for leaders on both sides to exchange views on bilateral issues as well as regional and international developments,' the statement added. In an interview broadcast on China's CCTV-13's Leaders Talk programme on Friday, PM Wong said he aims to establish closer ties with Chinese leaders, reaffirm their commitment to enhanced cooperation, and discuss global affairs during his visit. 'I made it a point to visit China almost every year since entering politics, because it is useful to visit regularly, to interact, exchange notes with my counterparts, and to get a sense of how China is moving and transforming,' he said in the interview. Building on longstanding ties Singapore and China established diplomatic ties in 1990, and upgraded relations to an 'All-Round High-Quality Future-Oriented Partnership' in 2023. Leaders on both sides have participated in a steady flow of high-level engagements. On the economic front, China has been Singapore's largest merchandise trading partner for over a decade, with merchandise trade reaching S$170.2 billion in 2024. Meanwhile, China was the city-state's third-largest services trading partner in 2023, with a services trade value of S$64.9 billion. In terms of investment flow, Singapore is also China's largest foreign investor. On the tourism front, Singapore received 3.08 million Chinese visitors last year. The two countries cooperate across various areas, through a variety of platforms. For example, at the deputy prime minister level, they engage via the annual Joint Council for Bilateral Cooperation. Singapore and China carry out three government-to-government projects: the Suzhou Industrial Park; the Sino-Singapore Tianjin Eco-City; and the Chongqing Connectivity Initiative. Other engagements are also conducted through the Investment Promotion Committee; provincial Business Councils; the Guangzhou Knowledge City; the Shenzhen Smart City Initiative; and forums on social governance and leadership. Among those in PM Wong's delegation are Foreign Minister Vivian Balakrishnan; Sustainability and the Environment Minister and Minister-in-charge of Trade Relations Grace Fu; Acting Transport Minister Jeffrey Siow; Senior Minister of State for Foreign Affairs and Home Affairs Sim Ann; and Member of Parliament Syed Harun Alhabsyi. PM Wong will be on leave on Jun 27. In his absence, Deputy Prime Minister Gan Kim Yong will be the acting prime minister until Jun 25, with Coordinating Minister for National Security and Home Affairs Minister K Shanmugam taking on the role from Jun 26 to 27.
