MFA Press Statement : Visit of Deputy Prime Minister & Minister for Finance Tharman Shanmugaratnam to the People's Republic of China ( PRC )

      
        Deputy Prime Minister and Minister for Finance Tharman Shanmugaratnam met with Han Zheng, Politburo Member of the Communist Party of China (CPC) and Party Secretary of the CPC Shanghai Municipal Committee this evening. They affirmed the deep and substantive bilateral relations between Singapore and Shanghai, underpinned by strong economic cooperation. DPM noted that Shanghai is a major recipient of investment from Singapore among China’s provinces and municipalities, while Singapore also ranks high among foreign investors in Shanghai.

2     DPM expressed confidence in the prospects for stronger cooperation between Singapore and Shanghai in the development of both their financial sectors, and between their financial regulators. Party Secretary Han noted that Singapore has been designated as the first RMB clearing centre outside greater China and that this presented prospects for Singapore and Shanghai to play complementary roles in support of the internationalisation of the RMB.

3     Earlier today, DPM visited the China Executive Leadership Academy Pudong (CELAP). Directly administered by the CPC Organisation Department, CELAP is one of five national-level leadership institutes in China.

4     Executive Vice President of CELAP Feng Jun briefed DPM on CELAP's mission and goals, and the role it plays in the training of Chinese leaders and officials. Feng highlighted the importance CELAP places on collaboration with Singapore.

5     DPM noted that CELAP's focus areas, urbanisation, macro-economic and financial management, and innovation in public governance, complement Singapore's priorities and developmental experience. He expressed support for the use of CELAP as a platform for continued exchanges of experiences between Singapore and Chinese leaders and officials.

6     DPM also had an hour-long dialogue session with CELAP's faculty and students. He took questions on the global economic situation and challenges facing the Asian economies, as well as Singapore's social and economic development strategies.

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MINISTRY OF FOREIGN AFFAIRS
SINGAPORE
31 MAY 2013