Into its 12th edition, the FutureChina Global Forum (FCGF) was successfully organised at the Sands Expo and Convention Centre on 12th July 2021. For the first time, the annual flagship forum was organised in a hybrid format consisting physical and virtual components. The theme for this year was “Elevating ASEAN-China Economic Collaboration in the ‘Never Normal’”. The event received an overwhelming response with participation from over 1700 local and overseas senior delegates, out of which 140 attended in person. These high-level delegates range from foreign dignitaries, government officials from Singapore, China and Southeast Asia, industry experts, senior management of companies, Business China’s members, sponsors and working partners. FCGF 2021 comprises the main forum programme, a virtual exhibition as well as other fringe activities such as a masterclass.
Chairman of Business China, Mr Lee Yi Shyan kick-started the event with a welcome address. He shared that although the global economy moved in the reverse gear in 2020, ASEAN overtook the European Union, the United States and South Korea to become China’s top trading partner. In the first quarter of 2021, ASEAN’s investments in China increased by 60%. These developments and figures showed that the economic and trade relations between ASEAN and China continued to deepen. Not only were they unhindered by the pandemic, but they had also demonstrated the resilience of regional integration. Chairman Lee felt that moving forward, there would be deeper and broader conversations and exchanges between ASEAN and China, where both sides explored opportunities for cooperation in economic and non-economic fields.
Business China was honoured to have Mr Heng Swee Keat, Singapore Deputy Prime Minister and Coordinating Minister for Economic Policies, as the Guest-of-Honour for the Opening Ceremony of the FutureChina Global Forum 2021. During his keynote speech, he highlighted that the coronavirus epidemic has accelerated the pace of change in different areas. He also pointed out that digital collaboration and sustainable development were two key building blocks for regional prosperity. ASEAN and China could explore how to strengthen cooperation in these two areas and seize new opportunities. DPM Heng also participated in the opening plenary discussion whereby he shared his views and insights on the key trends, as well as the new opportunities and challenges ahead.
Singapore Minister for Health and Business China Board Adviser, Mr Ong Ye Kung shared that against the backdrop of the Greater Bay Area’s development, there was much room for further collaboration between Singapore and China. Minister Ong also cited new opportunities for exchange and cooperation in eight areas, which included deepening collaborations in the finance sector, jointly building a green economy as well as promoting talent exchange.
Singapore Minister for Trade and Industry and Business China Board Adviser Mr Gan Kim Yong shared his views on what global trade and supply chains would look like in a post-pandemic world. As disruptions and constant shifts in our trading environment could be expected in a state of “Never Normal”, Singapore needed to be nimble and ever-ready for these changes. Minister Gan pointed out that through our strong trade and supply chain links to ASEAN economies and China, Singapore could play an important role in helping to enhance regional trade connectivity. Together with the ASEAN region, we would continue to build on our strong economic linkages with China and uncover new opportunities to enhance physical and digital trade between China, Southeast Asia, and the rest of the world.
Singapore Minister for Education and Business China Board Adviser Mr Chan Chun Sing, who was the Guest-of-Honour for the Closing Ceremony of the FutureChina Global Forum 2021, shared the key factors that would determine the trajectory of closer economic linkages between ASEAN and China. He outlined three ways that ASEAN and China could jointly seize the opportunities in the current environment, namely by adopting a long-term view in forging complementarities and trusted partnerships; building an open and inclusive regional network of trade agreements to connect supply and value chains; as well as fostering interoperability of standards and regulations.
Over 60 overseas and locally renowned speakers were invited to speak at the Forum, both physically and virtually. These distinguished speakers ranged from eminent scholars such as Nobel Laureate Professor Lars Peter Hansen from the University of Chicago to industry experts such as Dr Robert Yap, Executive Chairman of YCH Group, Mr Ming Z. Mei, Co-Founder and CEO of GLP, Mr Lim Chung Chun, Chairman and CEO of iFast Corporation Ltd and Mr Liang Xinjun, Former Vice Chairman and CEO of Fosun International as well as senior management from prominent Chinese corporates such as Wanxiang Blockchain Inc, Shandong Weiqiao Pioneering Group Co. Ltd, Broad Group and China International Capital Corporation. The speakers shared their wealth of experience and valuable insights on the latest developments and emerging trends that would position ASEAN and Chinese companies in capturing business opportunities in the post-pandemic era.
This year also marks the 30th anniversary of the establishment of ASEAN-China dialogue relations. Business China was honoured to have foreign dignitaries from China and ASEAN share their vision for future ASEAN-China relations and how ASEAN could be the frontier market to fuel regional inclusive growth with China. Chinese dignitaries included Deputy Secretary of the Chongqing Municipal Committee and Mayor of the Chongqing Municipal People’s Government Tang Liangzhi, Deputy Secretary of the Tianjin Municipal Party Committee and Tianjin Mayor Liao Guoxun, Deputy Secretary of the Guangdong Provincial Party Committee and Secretary of the Shenzhen Municipal Party Committee Wang Weizhong, Suzhou Mayor Li Yaping and Jiangsu Vice Governor Hui Jianlin. ASEAN leaders who joined the forum virtually were the Philippines’s Secretary of Trade and Industry Ramon Lopez, Cambodia’s Minister of Commerce Pan Sorasak, as well as Thailand’s Vice Minister for Commerce, Dr.Sansern Samalapa and Vice Minister for Digital Economy and Society Newin Chochaiyathip.
Business China’s also extended its network to start-ups this year. As part of FutureChina Global Forum 2021, the inaugural Business China Start-up Pitching Challenge was organised with partners such as Action Community for Entrepreneurship (ACE), SG Innovate, SGTech and Chinaccelerator.
At the Closing Ceremony, Guest-of-Honour Minister Chan presented certificates to the top three winners of the competition, which were NDR Medical Technology Pte Ltd, Augmentus Pte Ltd and Alchemy Foodtech.
Ms Tin Pei Ling, CEO of Business China ended off the forum by thanking all attendees and supporting organisations for making FCGF 2021 a success. She expressed hope that attendees would have gained a greater understanding of ASEAN and China’s developments through this forum.