Great Potential for Sino-Singapore Cooperation: Interview

Lee Hsien Loong, Deputy Prime Minister of Singapore has recently accepted the special interview of the People's Daily reporter during his visit in China. Aged 52, Lee Hsien Loong, the elder son of Lee Kuan Yew, former Prime minister of Singapore, assumed the post of Deputy Prime minister and concurrently Minister of trade and industry in November 1990. He continued to take up the post of Deputy Prime minister, concurrently Minister of finance and President of finance control in January 1997.

Question by the reporter (abbrev. as "Q"): During your visit to China this time you presided jointly with our Vice Premier Wu Yi over the first meeting of Joint Commission for Sino-Singapore Bilateral Cooperation. So I would like to ask how about the progress of the work for the joint commission now.

Answered Lee Hsien Loong (abbrev. as "A"): Results have been achieved at the meeting held by the Joint Commission for Sino-Singapore Bilateral Cooperation in Beijing. During the meeting we recalled the progress in cooperation made between the two countries in the past two years and also pushed the work forward. Two years ago when Hu Jintao, Vice president of the PRC then paid a visit to Singapore he proposed to set up a joint commission for bilateral cooperation together with ¡°four suggestions" in order to strengthen and deepen the bilateral cooperation. When giving an answer to the proposal Goh Choik Tong, our Prime minister suggested that the Joint Commission for Bilateral Cooperation become a general framework to supervise and control on the ever-increasing, extensive and deepening bilateral cooperation that has been going on for many years in the past.

As to the "four suggestions" I'm pleased to inform you that we've put forward a lot of practical plans and programs under this framework in the past two years. For example, last year saw Singapore set up the China Torchlight Center, so as to incubate the hi-tech enterprises of China. We've also put up a Singapore-Sichuan Investment and Trade Commission, which is going to serve as a main channel for Singapore to support China in its great development of the west. Now we are getting ready to establish a China Center in Singapore in order to assist Chinese enterprises in their overseas development. With regard to human resources we've already set up a Singapore-China Funds, offering scholarship to those Chinese officials who are willing to have a further study in Singapore or those to do it the other way round from Singapore to China.

We've also worked out some decisions in particular, that is to carry out bilateral consultations on Singapore-China free trade agreement and we¡¯ve also decided by consultation to rearrange the bilateral dual-taxation agreement, which has already been in force for some 18 years. Singapore has decided to recognize China's status of market economy under the WTO framework.

Q. To jointly preside with Vice Premier Wu Yi over the 7th session of the Sino-Singapore Joint Council Meeting for coordinating the work of the Suzhou Industrial Park, I think, is one of your major activities during your visit this time. And this year is the 10th anniversary for the establishment of the Suzhou Industrial Park. What's you opinion and appraisal on the development of the industrial park in Suzhou?

A. Suzhou Industrial Park is a cooperation project of the greatest importance between Singapore and China for which we should feel proud of. Having co-presided with Vice Premier Wu Yi over the council meeting for coordinating the work we've already discussed on the progress and future development of the industrial park and both of us feel satisfied.

First of all, the projects that the Park succeeded in drawing in came to more than 1,400 in number with an accumulated investment amounting to USD16 billion. Included in them are many high-quality investments as by those from 500 strong transnational corporations of the "Fortune". These enterprises have generated some 75,000 opportunities for employment. The park has again to tout in some new investments. Secondly, the high efficiency in work and transparent policies, fine business environment and good quality infrastructure as well as high-quality planning and execution of the law and policies in the industrial park have won for it a good credit. The living quarters and business buildings go extremely well with the industrial park. Thirdly, the company in charge of the development of the industrial park has begun to get in profits. Up to the end of 2003, the company has already got in enough profits for making up all accumulated deficits. And the company has for the first time allotted stock dividend amounting to USD 10 million. Finally, the officials at all levels on both sides have come to a deeper understanding of one another through the contacts of the industrial park and established friendship in a deeper way. This is a great achievement of the industrial park.

Q. What are the inspirations according to you that the other regions and enterprises of China can get from the development model of the industrial park?

A. First and foremost, the project success depends on the supports of the Chinese government at all levels, especially the supports of the governments at the provincial and municipal levels. Secondly, no fixed secret prescription introduced from foreign countries can cater to that for whole China. The practice and technology have to be regulated and made adaptable to the local environment and conditions. However the basic spirit of the "Software" has to be retained. Thirdly, as compared to "Hardware", the "Software" plays a bigger role in achieving success. A short-time neglect of the "software" may get in some achievements but from a long-term point of view, to score a benign circulation and a sustainable development the most important factor is to improve the quality of the "Software".

Q. Could you say something about the perspectives in the development of the Sino-Singapore relations?

A. I'm quite firm in my willpower for a further and deeper development of the bilateral relations between Singapore and China. All in all, it is to expand and deepen the cooperation between the two countries. The objective of my visit this time is to make sure the first session of the Joint Commission for bilateral cooperation a success, to recall what has been achieved In Suzhou Industrial Park and do some preparations for the 10-year anniversary celebration.

There sees a big potential in the development of the bilateral cooperation of the two countries. These years have witnessed an obvious growth achieved in the bilateral cooperation. The Singapore-China trade hit a record high in 2003, up to USD 2.2 billion but still enjoying a yearly rise of 20-30 percent. The Chinese mainland is Singapore's fifth trade partner in the world. If including the Hong Kong SAR and Macao SAR and Taiwan as well the greater China area is actually the biggest trade partner for Singapore in the world. China sees much more investment made by Singapore businessmen than any other countries and regions in the world. In tourism sector tourists to each other are increasing obviously and we have to make every week a "golden week" for our tourism industry.

Q. What is your strategic conception for the national development of Singapore?

A. The rise of China has scored an alteration of our environment. Singapore needs to have an economic policy, which can help make us possible to adapt to different conditions. It is in this way that we can maintain our special ability in making a continuous development so as to make sure that we can do some contributions to the world economy.

We have several big schemes, i.e. we must strengthen the contacts with the world economy, for instance to sign free trade agreements with other countries. And we must encourage enterprising spirit of our enterprises. Only by doing so, can our people be able to take hold of the opportunities in this region. We must continue to expand and update the manufacturing and service industries, putting in something that caters well to the economic activities in China and in India. We must also pay attention to education and training, increase human resources so as to make sure that workers have certain skills of their own. In this new and big environment it's not the natural resources but the quality of human resources that decide our success and failure.

Q. China is deepening the cooperation with the ASEAN. Recently the expansion of the EU has caught the attention of many people. What is the inspiration that you've got from the expansion of the European Union for the ASEAN?

A. The environment and historical experience in East Asia have a great difference with that in Europe and so in a relatively longer time we cannot follow the road as the merger of the EU. However, in a possible scope and scale, Singapore will try to promote the close cooperation among the countries in East Asia and push ahead the opening of the market.

The free trade agreement reached between the ASEAN and China is a very important step forward. To put it accurately, the important development will be helpful for regulating the economy of the ASEAN and of China and making them adaptable to each other. This will benefit both sides and we have to fulfill the agreement. The free trade agreement between Singapore and China will be sure to push further ahead the implementation of the ASEAN- China free trade agreement.

The article was carried on the People's Daily newspaper, May 17, and translated by People's Daily Online