SPEECH BY MR TEO SER LUCK, MINISTER OF STATE FOR TRADE
AND INDUSTRY AT THE SINGAPORE DAY SEMINAR
ON 29 MAY 2013, 9.30AM AT
INTERCONTINENTAL BEIJING BEICHEN
China Council for Promotion of Investment and Trade Vice Chairman Zhang Wei,
Ladies and Gentlemen,
1. Good morning. It is my pleasure to be here today at the Singapore Day Seminar. This is the second time we are holding the Seminar, and I am glad to see the high level of interest from Chinese companies today.
Chinese Companies Going Global
2. China has developed rapidly over the last 30 years. Since opening up its economy in 1978, China has seen its GDP grow by an impressive average rate of 9.5% per year, whilst its international trade grew by 18% in terms of volume. Today, China is the world’s second largest economy and the world’s biggest market for many consumer goods.
3. The strong growth of Chinese companies has fuelled China’s economic growth. Successfully adapting the experiences of other countries, Chinese companies have leap-frogged competitors to become major players and make their mark in several industries. More than 70 Chinese companies were named among the Fortune Global 500 companies in 2012, in industries such as construction, electronics, telecommunications and banking. Companies such as ICBC, China Electronics Corporation, and Huawei Investment and Holding.
4. More Chinese companies are now setting their sights on the next phase of entering international markets and “going global”. From 2005, China’s outbound direct investment (ODI) grew by 35% per annum to a cumulative US$577 billion as at end 2012. Over the next four years ODI is expected to continue to increase with ODI rising by US$172 billion in 2017[6]. In effect, China will change from being a net recipient of global investment to become a net global investor by 2017.
5. Companies looking to “go global” will inevitably face challenges in unfamiliar markets. Challenges may come in the form of laws and regulations that are difficult to navigate, language barriers that make communication with relevant contacts difficult, raising capital for operational expansion or finding trustworthy third parties to consistently provide quality services in areas such as accounting and financial services. In order to “go global”, it is important for companies to find ways to mitigate the risks of expanding to international markets.
Singapore as a choice location to expand into ASEAN markets
6. As a firm supporter of China’s “Going Global” strategy, Singapore continues to be an effective location for Chinese companies looking to internationalise. Singapore was ranked among the top three most attractive destinations for Chinese direct investment as measured by the EIU’s Going Global Investment Index for 2012[7].
7. Singapore’s strategic location, cultural affinity and membership in ASEAN uniquely position us as the optimal partner for Chinese companies looking to enter ASEAN markets. The ASEAN countries, when combined, make up the 8th largest market in the world. The resilient strength of ASEAN can be seen in the positive growth of ASEAN economies in recent years, even as other major economies in the world face uncertain recovery. It is an opportune time for Chinese companies to enter the ASEAN markets and tap into their increased demand for goods and services.
8. Indeed, Chinese companies have already begun investing in ASEAN. Chinese non-financial ODI in ASEAN countries increasing by 52% year-on-year in 2012. However, South East Asia only accounted for 5.7% of total Chinese ODI in 2012. Hence, there is significant scope for Chinese companies to expand their operations into the growing markets in ASEAN. Singapore can serve as a reliable partner in this endeavor.
9. Let me highlight the ways in which Singapore actively facilitates Chinese investments, at both the government and company level.
10. First, Singapore is committed to creating a pro-business environment for all companies, and continually seeks to strengthen bilateral economic relations with other countries. Our extensive network of 18 FTAs, 71 comprehensive DTAs and 40 IGAs gives Singapore-based companies more advantages in tariff concessions and faster entry into international markets, whilst offering investment protection in other countries. In particular, Singapore’s ASEAN membership, along with FTAs such as the CSFTA, ACFTA and AFTA, allow it to facilitate trade flows between China and ASEAN.
11. In addition, the Industrial and Commercial Bank of China Limited (ICBC) Singapore was recently named as a RMB clearing bank in Singapore. The RMB bank will facilitate RMB-denominated transactions, reducing transaction costs of doing business between China and Singapore. Later, companies can take advantage of this development to offer RMB-denominated bonds and securities to investors through Singapore.
12. Singapore’s IP regime has also been consistently ranked as one of the best in the world. In the World Economic Forum’s Global Competitiveness Report 2011/2013, Singapore is ranked second[8] in the world and top in Asia for having the best protection of intellectual property. Singapore has also developed strong IP arbitration capabilities. World Intellectual Property Organisation (WIPO) has established an Arbitration and Mediation Centre (AMC) in Singapore to support IP disputes in Asia via alternative dispute resolution. This is the only centre of its kind outside of Geneva.
13. Beyond the government, Singapore’s professional services players are well-qualified to provide reliable and cost-effective services to help Chinese companies internationalise. Our companies offer a wide range of services including finance, legal, accounting and audit, and intellectual property (IP) services. Our bilingual workforce with significant experience in the ASEAN market enables our services companies to effectively assist Chinese companies to reach out to international markets.
14. In the financial field, our banks have offered creative services tailored to aid their clients to tap into intra-regional trade. For instance, UOB has led the way in facilitating intra-regional trade through setting up dedicated FDI advisory units in China, India, Indonesia, Malaysia & Thailand. UOB’s regional network and financial services have also given strong support to overseas expansion plans of companies such as SANY Group[9], especially in the ASEAN markets. In addition, UOB signed a MOU with the China Council for the Promotion of Investment and Trade (CCPIT) in Nov 2012 to assist Chinese companies looking to internationalise. This is CCPIT’s first such collaboration with a South East Asian bank.
15. Legal firms in Singapore have also played prominent roles in facilitating companies’ financing needs. Rajah & Tann (R&T), the largest full services law firm in Singapore and Southeast Asia, was recently involved in raising US$150 million of bank loans to one of China's largest steel companies for its overseas operations.
16. Through AccessAsia@Singapore, the Singapore Business Federation (SBF) provides a one-stop business concierge service to facilitate foreign companies’ expansion into ASEAN through Singapore. AccessAsia@Singapore brings together 18 leading Singapore-based professional service companies to provide a suite of services for global companies looking to set up business operations in Singapore. In addition, foreign companies can leverage SBF’s extensive networks and resources to expand into regional markets.
17. Cooperation with Singapore’s technology firms also yields opportunities to create services and solutions for international markets. For instance, Baidu collaborated with A*STAR’s Institute for Infocomm Research (I2R), signing a MoU in 2012 to set up a joint research centre – the Baidu-I2R Research Centre (BIRC). The centre focuses on areas such as Natural Language Processing[10] technology and Speech Information Processing. Through this collaboration, Baidu reinforces its commitment to enhance the products and services that it provides to the Southeast Asian markets such as Thailand and Vietnam.
Conclusion
18. In conclusion, I strongly encourage companies gathered here to take the opportunity to understand how Singapore can value-add to your company’s efforts to expand into markets overseas.
19. I hope that today’s seminar will be fruitful. Thank you.
新加坡贸工部政务部长张思乐先生
新加坡日研讨会讲话全文
日期：2013年5月29日
时间：上午9时30分
地点：北京北辰洲际酒店
尊敬的中国国际贸易促进委员会副会长张伟
先生们、女士们
1. 大家早上好。很高兴出席今天的新加坡日研讨会。这是我们第二次举办这个研讨会。看到在座众多中国企业对这个研讨会的热烈支持，我感到十分高兴。
中国企业走向世界
2. 过去30年来，中国的发展突飞猛进。自1978年经济改革开放以后，中国的国内生产总值每年以惊人的速度平均增长9.5%，国际贸易量也增长18%。今天，中国已成为世界第二大经济体，也是世界许多消费品的最大市场。
3. 中国企业的强劲增长带动了中国的经济发展。在成功借鉴其他国家的经验之后，这些企业已超越了它们的竞争对手，并在各自的领域居领先地位。去年，共有超过70家中国企业在建筑、电子、通信和金融等行业跻身《财富世界500强》（Fortune Global 500）的企业名单。它们包括中国工商银行、中国电子信息产业集团、华为投资控股等。
4. 越来越多中国企业纷纷放眼世界，准备“走出去”迈向国际市场。自2005以来，中国对外直接投资每年增长35%，截至去年达到总额5770亿美元。未来4年，中国的对外直接投资预计将增至1720亿美元[1]。实际上，到了2017年，中国在全球经济的角色将发生变化，成为净对外投资输出国。
5. 企业在“走出去”的过程中，在陌生的市场和环境里必然会面对一些挑战。这些包括难以应对的法律条规、语言障碍、融资等方面的困难，或是寻找值得信赖的第三方伙伴提供优质服务，例如会计和金融等服务。要成功“走出去”，顺利迈向国际市场，企业就必须寻求有效方法，减低多方面的风险。
新加坡作为通往东盟市场的首选地
7. 新加坡的战略性位置、在语言文化上与中国相近，也是东盟（即亚细安）的成员国之一，这些是我们独有的优势和条件，使我们成为中国企业进军东盟的最佳伙伴。东盟的经济发展深具潜力，其经济体的总和是世界第八大市场。近年来，当世界其他主要经济体仍面对不稳定复苏的当儿，东盟国家却能取得不错的增长，其强固的韧力可见一斑。东盟市场对商品及服务的需求正愈益增加，现在正是中国企业进军东盟的良好时机。
8. 事实上，中国企业已开始在东南亚地区投资。2012年，中国企业在东盟国家的非金融对外直接投资年比增长了52%。然而，东南亚地区只占中国总对外直接投资的5.7%。因此，中国企业把业务扩展至日益增长的东盟市场还存有显著的空间。在这方面，新加坡可成为中国企业可靠的合作伙伴。
9. 现在，让我说明新加坡如何在政府和企业这两方面，促进中国企业投资并提供所需的便利。
10. 首先，新加坡致力为企业创造一个亲商的环境，并持续同其他国家加强双边经济关系。我们共签署了18份自由贸易协定、71份双重征税协定（DTAs）和40项投资保障协议（IGAs）。这个广大网络为那些以新加坡为基地的企业提供更多税务优待和快速进入国际市场的好处，同时享有在其他国家的投资保护。另外，新加坡是东盟成员国之一，加上多个自由贸易协定，包括《中国—新加坡自贸协定》（CSFTA）、《中国—东盟全面经济合作框架协议》（ACFTA）和东盟自由贸易区（AFTA）等，这些都将促进中国和东盟之间的贸易往来。
11. 此外，中国工商银行新加坡最近受委为新加坡人民币清算银行。人民币银行将促进以人民币为主的交易，降低中国和新加坡之间的商业成本。中国企业可趁这个发展优势为投资者提供人民币债券和证券。
12. 新加坡的知识产权机制也持续被列为世界最佳机制之一。在《2011／2013年的世界经济论坛环球竞争力报告》中，新加坡因具有最佳知识产权保护机制而排行世界第二[3]，居亚洲之首。此外，新加坡也有强固的知识产权仲裁能力。世界知识产权组织（WIPO）在新加坡设立了仲裁与调解中心办事处，通过替代解决方案支持亚洲的知识产权纠纷。这也是瑞士日内瓦境外的唯一的办事处。
13. 除了政府以外，新加坡的专业服务业者也大有资格为中国企业提供可靠和具有成本效益的服务，协助这些企业国际化。我们的企业能提供广泛的服务，包括金融、法律、会计、审计和知识产权服务。我们的劳动队伍具备双语能力，并对东盟市场非常熟悉，经验丰富，使得我们的服务公司能有效协助中国企业进军国际市场。
14. 在金融领域，新加坡银行也为客户量身定制富有创意的服务，协助他们进行区域内部贸易。例如大华银行率先透过在中国、印度、印度尼西亚、马来西亚和泰国等地设立专门的对外直接投资（FDI） 咨询单位以促进区域内部贸易。大华银行的区域网络和金融服务也强力支持如三一集团[4]等公司的海外扩展计划，尤其是东盟市场。此外，大华银行在去年11月同中国国际贸易促进委员会（CCPIT）签订合作备忘录，协助中国企业开拓海外市场。这是中国贸促会首个与东南亚银行合作的项目。
15. 新加坡的律师行也在协助企业融资方面扮演积极的角色。新加坡和东南亚规模最大立杰律师事务所（Rajah & Tann）最近便参与为中国其中一家最大规模的钢铁公司扩展海外业务，而筹集1.5亿美元的银行贷款。
16. 新加坡工商联合总会也透过AccessAsia@Singapore提供一站式服务，协助外国企业通过新加坡进军东盟市场。AccessAsia@Singapore把18家以新加坡为基地的领先专业服务公司集合起来，为有意在新加坡设立业务的环球企业提供一套完善的服务。此外，外国企业也可利用新加坡工商联合总会的广泛网络和资源把业务扩展到区域市场。
17. 中国企业与新加坡科技公司的合作，也可带来为国际市场创造服务和解决方案的机会。例如，中文搜索引擎公司百度与新加坡科研局（A*STAR）属下的资讯通信研究院（Institute for Infocomm Research或I2R）合作，在2012年签署合作备忘录，设立联合研究室，名为“百度-新加坡资讯通信研究院联合实验室”。实验室的研发重点在于自然语言处理[5]科技和语音信息处理项目。通过这项合作，百度将能进一步强化为泰国和越南等东南亚国家所提供的产品和服务。
总结
18. 最后，我鼓励所有参与今天研讨会的企业抓紧机会，进一步了解新加坡如何能为你们企业在走向海外，拓展事业版图的工作上带来增值，创造互惠共赢。
19. 我祝愿今天的研讨会圆满成功。谢谢。
[2]其他国家是美国和香港。
[3] 芬兰排行第一
[5] 指让电脑明白人类或自然语言的输入。
[6] Source: Economist Intelligence Unit Study
[7] The other countries were US and Hong Kong.
[8] After Finland
[9] SANY group is a global company in the construction machinery industry. It hires about 50,000 people in more than 150 countries.
[10] This refers to the enabling of computers to understand human or natural language input.