Milken Institute’s Post

Senior Minister Lee Hsien Loong spoke at the FutureChina Global Forum on Oct 18 2024 (https://lnkd.in/gjNEHKgH). Although the context of the fireside chat was on China's growing heft and influence in the global economy, SM Lee's thoughts also serve as sound advice to any foreign corporations invested in Singapore. The essence of what I laboured to articulate in my previous post (https://lnkd.in/gsCQ5_VY) was clearly stated by SM Lee. Singaporeans warmly welcome foreign companies to develop and add their unique contribution to the rich tapestry of weaving a robust and vibrant business community in Singapore. However, as SM Lee advised, "understand how our society works, and fit in as a member of the Singaporean society." Foreign corporations should not take Singaporeans nor their stay here for granted. These are Singapore's simple rules. We take care of our own. Images: Straits Times

#Singapore is intensifying efforts to strengthen trade and investment with #China and #ASEAN nations, as highlighted by the Singapore Business Federation’s delegation at the China-Asean Expo in Nanning, China. Singapore's presence includes the Singapore National Pavilion and Singapore Commodity Trade Pavilion, featuring 42 exhibitors. At the opening ceremony, Senior Minister Koh Poh Koon emphasized Singapore’s commitment to regional #trade growth. SBF chairman Lim Ming Yan noted Singapore’s pivotal role in fostering #investment and trade, especially in #technology and #supplychain. Findings from the SBF National Business Survey reveal that half of surveyed Singapore firms already operate in China, with 22% planning future expansion there. Article by Renald Yeo for The Business Times. Read more at the link below. Follow Straits Advisory now for more curated insights! A Straits42 Group company. https://lnkd.in/g7WTbRhy

Southeast Asia

Last week, Under Secretary Lago spoke at the Singapore Embassy in Washington, D.C., to commemorate #Singapore’s 59th National Day. Singapore is the United States’ largest trading partner in Southeast Asia, while the United States is Singapore’s largest trading partner in services and top foreign investor — totaling over $309 billion of investment in Singapore in 2022. Last year, two-way trade surpassed $131 billion. Building on over 20 years of the U.S.-Singapore Free Trade Agreement, our two countries continue to expand two-way trade and investment through the Indo-Pacific Economic Framework for Prosperity (#IPEF), U.S.-Singapore Partnership for Growth and Innovation, and U.S.-Singapore Critical and Emerging Technology Dialogue. https://lnkd.in/gpqhsYEf

Foreign investment in Shenzhen's Qianhai exceeds 40 bln USD Foreign companies have invested over 40 billion U.S. dollars in the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone (shortened as Qianhai), according to a local official. "Global investors are seizing a new round of opportunities arising from the development of new quality productive forces," Wang Jinxia, deputy director of the Qianhai Authority, told China Economic Roundtable, an all-media talk platform hosted by Xinhua News Agency. First introduced in 2023, new quality productive forces refer to advanced productivity freed from the traditional economic growth mode and productivity development paths. It features high-tech, high efficiency and high quality. Official data shows that Qianhai, situated in the southern metropolis of Shenzhen, Guangdong Province, is now home to over 10,000 foreign-invested firms. Wang noted that as China remains the world's largest market, the development of new quality productive forces continues to generate market demand, attracting a growing number of global investors. #investment #HongKong #Qianhai #CooperationZone https://lnkd.in/erdDDMEP

團結香港基金 Our Hong Kong Foundation (OHKF) held the Insight Forum, entitled "High-quality Belt and Road Development: From Regional Cooperation to Hong Kong's Transformation and Potential", on 16 September, inviting the keynote speaker, Dr Jonathan Choi, Chairman, The The Chinese General Chamber of Commerce, Hong Kong, Chairman, Sunwah Group, and Special Counsellor, OHKF, together with Bernard Charnwut Chan, Chairman, OHKF and Chairman & President, Asia Financial Holdings Limited, and 何力治 Nicholas Ho Lik-chi, Commissioner for Belt and Road Office, HKSAR Government, to foster productive discussions on Hong Kong's evolving role and future development prospects within the ASEAN region and the broader Belt and Road framework. Dr Jonathan Choi advised Hong Kong to bear in mind its irreplaceable dual roles in attracting foreign investment and going global. He believed that by leveraging the advantages of “One Country, Two System”, Hong Kong could not only collaborate with mainland Chinese enterprises but also engage in partnerships with companies worldwide. He highlighted the need to possess an overview of the whole world. Nicholas Ho suggested Hong Kong capitalise on its strengths in the Belt and Road Initiative (BRI) to function as a key link between standards. He indicated that no matter the development of the BRI or RCEP, the connectivity between regulations and standards would be a pioneer for industrial development. Event Recap: https://bit.ly/3Z2NPaQ

China’s industry clusters are key drivers of its economic growth and global competitiveness. These geographically concentrated hubs, such as the tech center in Shenzhen and manufacturing zones in the Pearl River Delta, foster innovation and efficiency by bringing interconnected businesses together. For Australian businesses looking to enhance innovation, streamline operations, and access new markets, these clusters offer strategic advantages. As China continues to evolve, understanding and leveraging these clusters is key to tapping into localized strengths and optimizing operational efficiencies. We provide an overview of China’s key industry clusters👉https://ow.ly/sOxE50SCWk9 --- 💡All you need to know about investing in China: https://ow.ly/Shgj50SCWk6 🤝 Get professional assistance from our team of experts in China: https://ow.ly/gS6750SCWka #DezanShira #ChinaBriefing #ChinaIndustryClusters #ManufacturingZones #InnovationHub #InvestingInChina #ChinaBusiness

Chinese companies' expansion efforts have to evolve to help remove friction from the complexity of global business and to achieve sustainable growth. Hailiang Zhang, our Greater China Business Head and Regional Managing Director, talks to China Daily about the ever-evolving landscape Chinese enterprises face and how Vistra simplifies the complex to enable progress. Read the full article here: https://hubs.ly/Q02xGjNh0 #vistra #progresswithoutfriction #borderlessbusiness

Fred Hu, Founder of Primavera Capital, attended the second Asia New Vision Forum in Singapore, themed "Global Challenges, Asian Solutions," organized by 财新国际, Singapore Economic Development Board (EDB) and Singapore Tourism Board. In a special session, "Fireside Chat with Fred Hu - Investing in China," Fred expressed optimism about the investment opportunities in China, highlighting healthcare and energy transition as sector bright spots.    He noted that China is moving beyond its "world's factory" label, actively increasing its global market share in high-tech industries. Domestic consumption, particularly among the middle class, is the key driver for China's economic growth, he identified. With the recent 50-basis-point rate cut by the U.S. Fed and monetary policy adjustments from the People's Bank of China, Fred sees signs of renewed vitality in the A-share and Hong Kong markets. He believes that the current downturn in IPO activities is temporary and holds a positive outlook for the future of China's capital markets. #ChinaEconomy #InvestInChina #ANVF2024 #investment

China's ailing economy is a testament to the perils of technocratic engineering. The Culture of Death has been a catastrophic mistake. Eugenics has seriously weakened China economically and socially. Like the Western world, there are large numbers of disaffected men with grievances, who are either economically inactive or else employed but without a family. The pre-modern term for this was 'guanggun,' and one can't but wonder how many of these men may be channelling their unresolved drives into cyber-nationalism and being a keyboard warrior. Certainly, the either outright lack of labour or at least lack of comprehensively fulfilling labour spells trouble ahead. In order to heal socially and economically, China will need to focus on the family structure, including the population's labour prospects and economic prospects more generally.