Singapore companies must adapt to China's evolving needs and circumstances to seize economic opportunities there, says Prime Minister Lee Hsien Loong.
Singapore Prime Minister Lee Hsien Loong speaks at the 4th Business China Awards.
SINGAPORE: Singapore companies must adapt to China's evolving needs and circumstances to seize economic opportunities there, even as the government continues to enhance its partnership with the Asian power.
Prime Minister Lee Hsien Loong made this point at the gala dinner of the 4th Business China Awards, honouring businessmen, entrepreneurs, professionals and organisations for their contributions to Singapore-China relations.
He said companies should be well-informed about China's market conditions, and ensure their products and services anticipate the demands of the Chinese market.
They should also develop staff to understand China's language, customs, traditions, business and practices.
Mr Lee said Singapore companies must also hold their own against growing competition in China and from other countries. This is where Business China is an important partner for Singapore companies hoping to enter China.
At the same time, Mr Lee said the government will maintain Singapore's pro-business environment and welcome high quality investments from China, to create better jobs for Singaporeans.
Mr Lee added that he is optimistic about China's potential and is confident its leaders can bring about the next stage of reforms.
He said: "One major factor in China's success will be the strategic situation in Asia Pacific. A stable regional environment will enable China to focus on its domestic priorities and reforms.
“Hence, all Asian countries look forward to China's peaceful development and hope that China's friendly relations with its neighbours will contribute to a stable and peaceful environment for all."
Mr Lee noted that China's next phase of development will be different. Its emphasis is on sustainable development and social governance, issues that concern Singapore as well.
This means Singapore's experience may be relevant to China, just as China's solutions will be of interest to Singapore.
At the awards ceremony, Mr Lee also gave out three awards which celebrate the recipients' contributions to Singapore-China relations.
Former party secretary of the Jiangsu Provincial Committee Liang Baohua, who is best known for his role as China's key representative in spearheading the development of the China-Singapore Suzhou Industrial Park, was given the Business China Excellence Award.
Singapore's Chinese newspaper Lianhe Zaobao, which also has an online readership in China, took the Business China Enterprise Award
The Business China Young Achiever Award went to Singaporean entrepreneur Charles Wong, who is one of the founders of the Charles & Keith Group.
Mr Lee was also appointed Patron of Business China.
Business China was launched six years ago in November 2007 by former Minister Mentor Lee Kuan Yew and former Chinese Premier Wen Jiabao.
SINGAPORE: Singapore companies must adapt to China's evolving needs and circumstances to seize economic opportunities there, even as the government continues to enhance its partnership with the Asian power.
Prime Minister Lee Hsien Loong made this point at the gala dinner of the 4th Business China Awards, honouring businessmen, entrepreneurs, professionals and organisations for their contributions to Singapore-China relations.
He said companies should be well-informed about China's market conditions, and ensure their products and services anticipate the demands of the Chinese market.
They should also develop staff to understand China's language, customs, traditions, business and practices.
Mr Lee said Singapore companies must also hold their own against growing competition in China and from other countries. This is where Business China is an important partner for Singapore companies hoping to enter China.
At the same time, Mr Lee said the government will maintain Singapore's pro-business environment and welcome high quality investments from China, to create better jobs for Singaporeans.
Mr Lee added that he is optimistic about China's potential and is confident its leaders can bring about the next stage of reforms.
He said: "One major factor in China's success will be the strategic situation in Asia Pacific. A stable regional environment will enable China to focus on its domestic priorities and reforms.
“Hence, all Asian countries look forward to China's peaceful development and hope that China's friendly relations with its neighbours will contribute to a stable and peaceful environment for all."
Mr Lee noted that China's next phase of development will be different. Its emphasis is on sustainable development and social governance, issues that concern Singapore as well.
This means Singapore's experience may be relevant to China, just as China's solutions will be of interest to Singapore.
At the awards ceremony, Mr Lee also gave out three awards which celebrate the recipients' contributions to Singapore-China relations.
Former party secretary of the Jiangsu Provincial Committee Liang Baohua, who is best known for his role as China's key representative in spearheading the development of the China-Singapore Suzhou Industrial Park, was given the Business China Excellence Award.
Singapore's Chinese newspaper Lianhe Zaobao, which also has an online readership in China, took the Business China Enterprise Award
The Business China Young Achiever Award went to Singaporean entrepreneur Charles Wong, who is one of the founders of the Charles & Keith Group.
Mr Lee was also appointed Patron of Business China.
Business China was launched six years ago in November 2007 by former Minister Mentor Lee Kuan Yew and former Chinese Premier Wen Jiabao.
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