On 11 November 2010, Business China and Singapore Chinese Chamber of Commerce & Industry (SCCCI) co-hosted a lunch in honour of China’s former Finance Minister Mr Xiang Huaicheng, at The Pyramid. Mr Xiang was in Singapore to be conferred as the first Distinguished Fellow of the Lien Ying Chow Legacy Fellowship.
CEO of Business China, Mrs Josephine Teo, gave an opening speech introducing the milestones of Mr Xiang’s career when he was China’s Finance Vice-Minister, Finance Minister, and then President of National Council for Social Security Fund.
Mr Xiang was then invited up to stage, to share his views about Outlook on China’s Macro Economy in 2011. During his speech, he said, “With 2011 marking the start of China’s 12th “Five Year Plan”, the economy will maintain steady rapid growth. The increase of China’s investment, consumption, imports and exports, and price levels indicate strong economic fundamentals and demands. Fiscal deficits and debts have reduced significantly to a healthy level. In addition, high household savings rate and healthy conditions of the banks result in overall abundance of capital.”
Mr Xiang said that China’s expected steady growth will contribute significantly to world economic recovery and also provide opportunities for multinational companies in Singapore.
Mr Xiang’s sharing segment was followed by a dialogue moderated by Lianhe Zaobao’s Crossroads Editor, Dr Zhou Zhao Cheng, who is also a member of Business China. A few members used the opportunity to get Mr Xiang’s views on the regional economy.
50 guests graced this event. Some of these guests include Business China board directors, donors and committee members.