PM Lee opens S'pore-Hangzhou Science & Tech Park in China

[metalslug]

http://www.channelnewsasia.com/stories/singaporelocalnews/view/434100/1/.html

PM Lee opens S'pore-Hangzhou Science & Tech Park in China
By Channel NewsAsia's Glenda Chong | Posted: 05 June 2009 1901 hrs

Photos 1 of 1

PM Lee (L) and Zhejiang Party Secretary Zhao HongZhu

Video

PM Lee opens S'pore-Hangzhou Science & Tech Park in China




Zhejiang Province, HANGZHOU: Second-tier cities in China have been drawing more investors and a new integrated business park is being developed to cater to the growing number of businesses setting up operations there.

It was opened on Friday by Singapore's Prime Minister Lee Hsien Loong, who also took the opportunity to visit the premises of a big Chinese Internet name, Alibaba.

This is a new landmark for the Singapore business park developer Ascendas. The Singapore-Hangzhou Science and Technology Park is the first integrated park development in Zhejiang province.

Costing about US$484 million, it is located at the heart of the Hangzhou Economic Development Area.

Phase 1 of the project will be completed next month. Tenants who have signed up include firms in the Business Process Outsourcing (BPO), IT outsourcing and the creative industries.

Chong Siak Ching, president & CEO, Ascendas, said: "Future phases will also include retail, convention spaces and service apartments when all 43 hectares are completed. The park will cater up to 50,000 professionals in areas such as BPO, IT and R&D."

Singapore companies have been growing their investments in second tier mainland Chinese cities like Hangzhou.

Last year, bilateral trade between Singapore and Hangzhou reached US$611 million. Hangzhou is also attractive because some of the biggest Chinese companies can be found here.

PM Lee was given a tour of Alibaba Group, a family of Internet-based businesses which provides B2B e-commerce trade, retail, payment, business management software and classified listings.

Alibaba said Singapore is an important part of its growth plans. David Wei, CEO, Alibaba.com, said: "Alibaba.com investment hub for our global investment is based in Singapore as well as our marketing hub and sales hub.

"At the moment, our global sales represent less than five per cent of our total revenue. Within the next five to 10 years, we expect that number to be one third of our total revenue with more revenue global, and there will be more consolidated functions in Singapore."

Last year, alibaba.com made the second largest IPO sale of an Internet company after Google, raising US$1.5 billion. - CNA/vm

 

[makapaaa]

How will Sporns benefit? Just look at the Ah Gua's smug look! *shake head*

 

[kingrant]

http://www.channelnewsasia.com/stories/singaporelocalnews/view/434100/1/.html

PM Lee opens S'pore-Hangzhou Science & Tech Park in China
By Channel NewsAsia's Glenda Chong | Posted: 05 June 2009 1901 hrs

Photos 1 of 1

PM Lee (L) and Zhejiang Party Secretary Zhao HongZhu

Video

PM Lee opens S'pore-Hangzhou Science & Tech Park in China




Zhejiang Province, HANGZHOU: Second-tier cities in China have been drawing more investors and a new integrated business park is being developed to cater to the growing number of businesses setting up operations there.

It was opened on Friday by Singapore's Prime Minister Lee Hsien Loong, who also took the opportunity to visit the premises of a big Chinese Internet name, Alibaba.

This is a new landmark for the Singapore business park developer Ascendas. The Singapore-Hangzhou Science and Technology Park is the first integrated park development in Zhejiang province.

Costing about US$484 million, it is located at the heart of the Hangzhou Economic Development Area.

Phase 1 of the project will be completed next month. Tenants who have signed up include firms in the Business Process Outsourcing (BPO), IT outsourcing and the creative industries.

Chong Siak Ching, president & CEO, Ascendas, said: "Future phases will also include retail, convention spaces and service apartments when all 43 hectares are completed. The park will cater up to 50,000 professionals in areas such as BPO, IT and R&D."

Singapore companies have been growing their investments in second tier mainland Chinese cities like Hangzhou.

Last year, bilateral trade between Singapore and Hangzhou reached US$611 million. Hangzhou is also attractive because some of the biggest Chinese companies can be found here.

PM Lee was given a tour of Alibaba Group, a family of Internet-based businesses which provides B2B e-commerce trade, retail, payment, business management software and classified listings.

Alibaba said Singapore is an important part of its growth plans. David Wei, CEO, Alibaba.com, said: "Alibaba.com investment hub for our global investment is based in Singapore as well as our marketing hub and sales hub.

"At the moment, our global sales represent less than five per cent of our total revenue. Within the next five to 10 years, we expect that number to be one third of our total revenue with more revenue global, and there will be more consolidated functions in Singapore."

Last year, alibaba.com made the second largest IPO sale of an Internet company after Google, raising US$1.5 billion. - CNA/vm

How come no mention of the multi-billionaire dollar loser with him? Still didnt cover her face with doggie bag?

 

[Papsmearer]

WHat, only Zhejiang Province secretary general come to greet him? No big shots from Beijing? Shows what high regard they hold Gay Loong and Singapore in.

 

[johnny333]

What is LKY, GCT, or Prataman doing?

We got so many surplus talented hand shakers, seat warmers, why is the PM running away from Spore , instead of "fixing" things why is he taking these junkets.

Are they all afraid of catching the swine flu

 

[metalslug]

http://www.channelnewsasia.com/stories/singaporelocalnews/view/434308/1/.html


Singapore companies showing great interest in Ningbo city in Zhejiang
By Channel NewsAsia's Glenda Chong | Posted: 06 June 2009 2153 hrs

Photos 1 of 1

PM Lee (L) and Zhejiang Party Secretary Zhao HongZhu

Video

Singapore companies showing great interest in Ningbo city in Zhejiang









NINGBO,Zhejiang Province: Singapore companies are showing great interest in Ningbo, a second tier city in China. On his first visit to Ningbo, Singapore Prime Minister Lee Hsien Loong expressed confidence that the economic relationship between the two cities will grow.

Located at the middle of China's coastline and the waterway of the Yangtze River, Ningbo boasts of a free trade port zone and an international container port.

With 65 deep water berths and a 22.5-metre deep channel, Ningbo Port is second to Shanghai Port.

It's also the world's fourth largest port, handling 360 million tonnes of cargo last year.

And to facilitate the growth of its free trade zone, Singapore company RSP Architects will provide the master plan for the construction of the Beilun District Southern Zone.

A multi-billion US dollar project, the southern district covers an area of 186 square kilometres, and phase 1 is slated for completion in two to three years.

Liu Thai-Ker, director, RSP Architects Planners & Engineers, said: “It is a great place for high-quality of living. The city is promotes a liveable city and they are hoping this area with become a liveable urban environment.

“Because of the extremely good environment, we would also like to promote high end industrial, maybe cultural industrial development, education industrial development and high-tech industrial development with R&D."

"There are already investors expressing interest and we are just waiting for the master plan to come out. So I think the time lapse between master planning and development can be quite short."

PM Lee was briefed on Ningbo's future expansion plans by Ningbo Party Secretary, Bayin Chaolu.

They also spoke about the challenges they face in this economic crisis.

Mr Lee said Singapore's long term prosperity lies in the strengthened relationship with cities around the world like Ningbo.

Both men also expressed confidence in building closer business ties.

Ningbo is one of the fastest growing cities in China, recording a 10.1 per cent year-on-year growth with a GDP of US$ 58 billion last year, while residents' average disposable income reached US$3,644.

And recognising this growth potential, Singapore developer CapitaLand is building its fifth Raffles City project here.

Located in the commercial centre, Raffles City Ningbo, to be completed by 2012, will boast of an integrated development which will comprise a shopping mall, offices and serviced residence units.

Mr Lee also witnessed the signing ceremony for two projects that Singapore-based consultancy group Jurong International is undertaking in Ninghai county in Ningbo.

Both projects will be completed by this year. - CNA/vm

 

[johnny333]

Mr Lee said Singapore's long term prosperity lies in the strengthened relationship with cities around the world like Ningbo.

Since when has the familee ever given consideration to Singapore's long term prosperity From what I've seen money earned from Spore is wasted on their overseas adventures without any regrets.