The 13th edition of FutureChina Global Forum (FCGF 2022) was successfully held at the Sands Expo and Convention Centre on 7 October 2022.
The event was held in a hybrid format consisting of physical and virtual components. The theme for the forum was “Stability Amidst Turbulence”. As this was the first event after the relaxation of the Covid-19 event capacity restriction, FCGF 2022 attracted more than 600 delegates.
These delegates included local and foreign dignitaries, government officials, industry experts, senior management of companies, Business China’s members, sponsors and working partners. FCGF 2022 comprised the main forum programme, fringe activities such as a masterclass and also the new thematic showcase on supply chain and the metaverse.
Mr Lee Yi Shyan, Chairman of Business China opened the event with a welcome address. He shared that, just as Singapore stepped out of the shadow of COVID-19, the global economic outlook had become clouded with uncertainties and heralded challenging times ahead. One of the most prominent problems was the rising costs and recession triggered by a series of events. Looking into 2022, there were many uncertainties for businesses and entrepreneurs. Even so, many were still concerned about the development and opportunities of China’s economy under the Dual Circulation strategy and the process of China’s economic integration with ASEAN. He also urged participants to look out for medium- to long-term development opportunities, especially in the areas of green economy, green financing and the rapidly growing Web 3.0 industry.
Mr Lawrence Wong, Singapore’s Deputy Prime Minister (DPM) and Minister for Finance was the Guest-of-Honour for the Opening Ceremony of FCGF 2022. In his opening speech, he noted that the United States (US) and China had shifted from decades of relatively benign economic competition to a more dangerous form of geostrategic rivalry that was destabilising the world order today. Worsening US-China ties in recent years had already impacted global trade and investment, and if relations remained fraught, this could trigger a further bifurcation of technology, splitting of supply chains and other unintended consequences. He also emphasised the importance of strengthening the ties between Singapore and China to promote stability in the region. The relationship between Singapore and China has been “built on very close people-to-people ties, [and] a strong foundation of mutual trust established over decades”. He noted the crucial role that Business China played in encouraging partnerships and dialogues between the two countries, and equipping young Singaporean professionals with China-ready skills.
In his keynote speech at the plenary session themed “Enhancing Societal Security and Sustainability in a Turbulent World”, Senior Minister of State for Sustainability and the Environment, and Manpower, Dr Koh Poh Koon, highlighted that despite the different challenges faced at home, all nations would need to confront a common enemy – climate change. It was therefore imperative to reprioritise sustainability and seize opportunities amidst the turbulence. Dr Koh outlined three ways that nations could achieve this – building partnerships and bridging divides, focusing on long-term outcomes, and being bold and ambitious.
2022 also marked the 15th anniversary of the establishment of Business China. Mr Teo Chee Hean, Senior Minister (SM) and Coordinating Minister for National Security attend the gala dinner, and joined a fireside chat moderated by Mr Robin Hu, Vice Chairman Asia and Operating Partner of Temasek. SM Teo shared that small states like Singapore relied on an established global order, especially in an increasingly uncertain geopolitical environment. By acting firmly on principles such as territorial integrity, free trade and regional integration – and doing it consistently over time – Singapore demonstrated how it was a reliable partner.
In addition, Fang Wei, Vice Governor of the Jiangsu Provincial People’s Government shared his vision for future Singapore-China relations through a video address. Chinese dignitaries including Suzhou Mayor Wu Qingwen, Member of the Standing Committee of CPC Shenzhen Municipal Committee Zeng Pai, and Member of the Standing Committee of the Tianjin Municipal Party Committee Lian Maojun also recorded congratulatory videos to celebrate Business China’s 15th anniversary.
Another highlight of the gala dinner was the silent auction of a collector’s edition of the first newspaper report of Business China’s establishment in 2007 made of crystal. The winner of the auction was Dato’ Sri Prof. Dr. Tahir.
Ms Tin Pei Ling, Chief Executive Officer of Business China mentioned in her closing speech that much has changed since 15 years ago when the organisation was founded. In the current global situation, many Chinese companies use Singapore as a gateway to enter Southeast Asia markets. Therefore, Business China must continue to nurture new generations of bilingual, bicultural and China-savvy youths and enterprises through programmes. These programmes are platforms for budding business leaders to connect and have in-depth discussions on issues. She thanked all attendees and supporting organisations for making FCGF 2022 – Business China’s first large-scale in-person event since the relaxation of the COVID-19 pandemic regulations – a huge success.